Kronos Bio (NASDAQ:KRON) Coverage Initiated by Analysts at HC Wainwright

HC Wainwright assumed coverage on shares of Kronos Bio (NASDAQ:KRON) in a report released on Thursday, Price reports. The firm issued a buy rating and a $35.00 price target on the stock.

Separately, Zacks Investment Research lowered Kronos Bio from a hold rating to a sell rating in a research report on Thursday, March 25th. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $41.50.

NASDAQ:KRON opened at $24.47 on Thursday. Kronos Bio has a 12 month low of $19.60 and a 12 month high of $39.60. The business’s 50 day moving average price is $25.21. The stock has a market cap of $1.37 billion and a price-to-earnings ratio of -6.53.

Kronos Bio (NASDAQ:KRON) last posted its quarterly earnings results on Monday, May 10th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.05). As a group, equities research analysts anticipate that Kronos Bio will post -2.68 EPS for the current year.

In related news, Director Jakob Loven sold 15,828 shares of the company’s stock in a transaction that occurred on Monday, April 12th. The stock was sold at an average price of $26.28, for a total value of $415,959.84. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold 158,758 shares of company stock worth $3,875,475 over the last quarter. 31.20% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KRON. Royal Bank of Canada lifted its holdings in Kronos Bio by 78.9% in the first quarter. Royal Bank of Canada now owns 2,283 shares of the company’s stock valued at $67,000 after acquiring an additional 1,007 shares during the last quarter. Citigroup Inc. acquired a new position in Kronos Bio during the fourth quarter worth $82,000. Wells Fargo & Company MN acquired a new position in Kronos Bio during the fourth quarter worth $226,000. The Manufacturers Life Insurance Company acquired a new position in Kronos Bio during the fourth quarter worth $251,000. Finally, American International Group Inc. acquired a new position in Kronos Bio during the fourth quarter worth $254,000. Hedge funds and other institutional investors own 61.66% of the company’s stock.

About Kronos Bio

Kronos Bio, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery and development of novel cancer therapeutics. The company's product engine focuses on dysregulated transcription factors and the transcriptional regulatory networks that drive oncogenic activity. Its lead product candidate is entospletinib (ENTO), is an orally administered, selective spleen tyrosine kinase inhibitor for acute myeloid leukemia patients.

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Analyst Recommendations for Kronos Bio (NASDAQ:KRON)

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