HC Wainwright Comments on Kronos Bio, Inc.’s Q2 2024 Earnings (NASDAQ:KRON)

Kronos Bio, Inc. (NASDAQ:KRON) – Stock analysts at HC Wainwright increased their Q2 2024 earnings per share (EPS) estimates for shares of Kronos Bio in a note issued to investors on Wednesday, July 31st. HC Wainwright analyst R. Burns now anticipates that the company will post earnings of ($0.32) per share for the quarter, up from their prior forecast of ($0.42). HC Wainwright currently has a “Buy” rating and a $2.25 target price on the stock. The consensus estimate for Kronos Bio’s current full-year earnings is ($1.62) per share. HC Wainwright also issued estimates for Kronos Bio’s Q3 2024 earnings at ($0.33) EPS, Q4 2024 earnings at ($0.34) EPS, FY2024 earnings at ($1.50) EPS, Q1 2025 earnings at ($0.35) EPS, Q2 2025 earnings at ($0.35) EPS, Q3 2025 earnings at ($0.36) EPS and Q4 2025 earnings at ($0.37) EPS.

Kronos Bio (NASDAQ:KRON) last released its earnings results on Thursday, May 9th. The company reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.07). The firm had revenue of $2.52 million for the quarter, compared to the consensus estimate of $1.50 million. Kronos Bio had a negative return on equity of 68.67% and a negative net margin of 1,534.11%.

Kronos Bio Stock Performance

KRON opened at $1.16 on Monday. The stock has a market cap of $69.71 million, a price-to-earnings ratio of -0.58 and a beta of 1.89. The firm’s fifty day moving average is $1.13 and its 200 day moving average is $1.11. Kronos Bio has a fifty-two week low of $0.69 and a fifty-two week high of $1.76.

Institutional Trading of Kronos Bio

Large investors have recently made changes to their positions in the business. Acadian Asset Management LLC raised 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 valued at $1,524,000 after buying an additional 455,351 shares during the period. Virtu Financial LLC bought a new position in Kronos Bio during the first quarter valued at $71,000. Vanguard Group Inc. raised its stake in shares of Kronos Bio by 14.6% in the first quarter. Vanguard Group Inc. now owns 1,948,595 shares of the company’s stock valued at $2,533,000 after acquiring an additional 247,918 shares during the period. Marquette Asset Management LLC lifted its holdings in shares of Kronos Bio by 19.8% in the 1st quarter. Marquette Asset Management LLC now owns 80,369 shares of the company’s stock worth $104,000 after acquiring an additional 13,269 shares during the last quarter. Finally, Cerity Partners LLC bought a new stake in shares of Kronos Bio in the 4th quarter worth about $513,000. 64.09% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Kronos Bio

In related news, CEO Norbert W. Bischofberger acquired 881,913 shares of the business’s stock in a transaction on Wednesday, June 12th. The stock was acquired at an average cost of $1.24 per share, with a total value of $1,093,572.12. Following the acquisition, the chief executive officer now directly owns 7,375,616 shares in the company, valued at approximately $9,145,763.84. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Norbert W. Bischofberger bought 410,848 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The shares were bought at an average cost of $1.17 per share, for a total transaction of $480,692.16. Following the completion of the transaction, the chief executive officer now owns 10,597,468 shares of the company’s stock, valued at $12,399,037.56. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Norbert W. Bischofberger purchased 881,913 shares of the business’s stock in a transaction on Wednesday, June 12th. The shares were purchased at an average price of $1.24 per share, with a total value of $1,093,572.12. Following the acquisition, the chief executive officer now directly owns 7,375,616 shares in the company, valued at $9,145,763.84. The disclosure for this purchase can be found here. Insiders have acquired a total of 2,671,662 shares of company stock valued at $2,787,697 over the last ninety days. 23.40% of the stock is currently owned by company insiders.

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.