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

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

A number of other equities analysts have also issued reports on the company. Piper Sandler reissued an “overweight” rating and set a $6.00 price target on shares of Kronos Bio in a report on Tuesday, October 8th. HC Wainwright reiterated a “buy” rating and issued a $2.25 target price on shares of Kronos Bio in a research note on Monday, August 19th.

Kronos Bio Price Performance

Shares of NASDAQ:KRON opened at $0.85 on Thursday. Kronos Bio has a 1-year low of $0.69 and a 1-year high of $1.60. The stock has a market cap of $51.29 million, a P/E ratio of -0.59 and a beta of 1.86. The firm has a fifty day moving average price of $0.95 and a 200 day moving average price of $1.03.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Kronos Bio by 14.6% in 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. Acadian Asset Management LLC lifted its holdings in shares of Kronos Bio by 17.2% in the 1st quarter. Acadian Asset Management LLC now owns 774,559 shares of the company’s stock valued at $1,005,000 after buying an additional 113,618 shares during the period. Virtu Financial LLC purchased a new stake in shares of Kronos Bio in the first quarter valued at approximately $71,000. Finally, Forefront Analytics LLC grew its holdings 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 acquiring an additional 57,867 shares during the period. 64.09% of the stock is currently owned by institutional investors and hedge funds.

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.