Kronos Bio, Inc. (NASDAQ:KRON)’s stock price traded down 3.4% on Wednesday . The stock traded as low as $23.35 and last traded at $23.35. 3,128 shares changed hands during mid-day trading, a decline of 99% from the average session volume of 213,162 shares. The stock had previously closed at $24.18.
Several analysts have weighed in on the company. HC Wainwright assumed coverage on Kronos Bio in a report on Thursday. They issued a “buy” rating and a $35.00 price target on the stock. Zacks Investment Research cut Kronos Bio from a “hold” rating to a “sell” rating in a report on Thursday, March 25th. One analyst has rated the stock with a sell rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $41.50.
The stock has a market cap of $1.37 billion and a PE ratio of -6.53. The firm’s 50-day moving average price is $25.21.
In related news, Director Jakob Loven sold 14,004 shares of the firm’s stock in a transaction that occurred on Monday, April 19th. The stock was sold at an average price of $20.59, for a total transaction of $288,342.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders have sold 158,758 shares of company stock worth $3,875,475. 31.20% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vida Ventures Advisors LLC bought a new position in Kronos Bio during the 4th quarter worth approximately $82,600,000. Price T Rowe Associates Inc. MD bought a new stake in shares of Kronos Bio in the 4th quarter worth approximately $61,745,000. BlackRock Inc. grew its position in shares of Kronos Bio by 7.1% in the 1st quarter. BlackRock Inc. now owns 1,635,564 shares of the company’s stock worth $47,871,000 after buying an additional 108,876 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Kronos Bio by 1.1% in the 1st quarter. JPMorgan Chase & Co. now owns 1,623,038 shares of the company’s stock worth $47,506,000 after buying an additional 18,277 shares during the last quarter. Finally, Artal Group S.A. bought a new stake in shares of Kronos Bio in the 4th quarter worth approximately $39,367,000. Institutional investors and hedge funds own 61.66% of the company’s stock.
About Kronos Bio (NASDAQ:KRON)
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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