Kronos Bio, Inc. (NASDAQ:KRON – Free Report) – 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 – Get Free Report) 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
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.
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