Kronos Bio (NASDAQ:KRON) Lowered to Hold Rating by TD Cowen

TD Cowen downgraded shares of Kronos Bio (NASDAQ:KRON) from a buy rating to a hold rating in a research report report published on Thursday morning, MarketBeat.com reports.

Other research analysts have also recently issued reports about the stock. HC Wainwright reissued a “buy” rating and issued a $2.25 price objective on shares of Kronos Bio in a research note on Monday, August 19th. Piper Sandler reissued an “overweight” rating and set a $6.00 target price on shares of Kronos Bio in a research note on Tuesday, October 8th.

Kronos Bio Price Performance

KRON stock traded down $0.00 during midday trading on Thursday, reaching $0.85. The company had a trading volume of 557,645 shares, compared to its average volume of 268,176. The company has a market capitalization of $51.10 million, a price-to-earnings ratio of -0.60 and a beta of 1.86. Kronos Bio has a 1-year low of $0.69 and a 1-year high of $1.60. The stock has a 50 day moving average price of $0.95 and a 200-day moving average price of $1.03.

Hedge Funds Weigh In On Kronos Bio

Hedge funds have recently made changes to their positions in the stock. Acadian Asset Management LLC grew its holdings in Kronos Bio by 58.8% during the 2nd quarter. Acadian Asset Management LLC now owns 1,229,910 shares of the company’s stock worth $1,524,000 after acquiring an additional 455,351 shares during the period. Vanguard Group Inc. boosted its position in shares of Kronos Bio by 14.6% during the 1st quarter. Vanguard Group Inc. now owns 1,948,595 shares of the company’s stock valued at $2,533,000 after purchasing an additional 247,918 shares in the last quarter. Forefront Analytics LLC grew its stake in Kronos Bio by 75.0% during the second quarter. Forefront Analytics LLC now owns 134,998 shares of the company’s stock worth $167,000 after purchasing an additional 57,867 shares during the period. Finally, Virtu Financial LLC bought a new stake in Kronos Bio in the first quarter worth approximately $71,000. 64.09% of the stock is currently owned by institutional investors.

Kronos Bio Company Profile

Kronos Bio, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery and development of therapeutics for various cancer and other serious diseases in the United States. Its lead product candidates are KB-0742, an oral cyclin dependent kinase 9 inhibitor for the treatment of MYC-amplified solid tumors, which is in phase 2 clinical trial; and KB-9558, a core oncogenic transcription factor that drives multiple myeloma.