Acadian Asset Management LLC Buys 455,351 Shares of Kronos Bio, Inc. (NASDAQ:KRON)

Acadian Asset Management LLC increased its stake in shares of Kronos Bio, Inc. (NASDAQ:KRON) by 58.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,229,910 shares of the company’s stock after acquiring an additional 455,351 shares during the quarter. Acadian Asset Management LLC owned approximately 2.05% of Kronos Bio worth $1,524,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Kronos Bio by 14.6% during the first quarter. Vanguard Group Inc. now owns 1,948,595 shares of the company’s stock worth $2,533,000 after acquiring an additional 247,918 shares in the last quarter. Marquette Asset Management LLC raised its holdings in Kronos Bio by 19.8% during the first quarter. Marquette Asset Management LLC now owns 80,369 shares of the company’s stock worth $104,000 after buying an additional 13,269 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in Kronos Bio during the first quarter worth $71,000. 64.09% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, HC Wainwright restated a “buy” rating and set a $2.25 price objective on shares of Kronos Bio in a report on Monday, August 19th.

Kronos Bio Trading Up 0.6 %

KRON opened at $0.95 on Monday. The company’s fifty day moving average price is $1.13 and its two-hundred day moving average price is $1.09. Kronos Bio, Inc. has a 1-year low of $0.69 and a 1-year high of $1.60. The company has a market cap of $57.09 million, a price-to-earnings ratio of -0.48 and a beta of 1.87.

Kronos Bio (NASDAQ:KRON) last announced its earnings results on Thursday, August 8th. The company reported ($0.27) EPS for the quarter, beating the consensus estimate of ($0.32) by $0.05. The company had revenue of $2.69 million during the quarter, compared to the consensus estimate of $1.75 million. Kronos Bio had a negative net margin of 1,222.83% and a negative return on equity of 68.82%. As a group, equities analysts forecast that Kronos Bio, Inc. will post -1.33 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Norbert W. Bischofberger bought 410,848 shares of the stock in a transaction dated Thursday, June 27th. The stock was bought at an average price of $1.17 per share, for a total transaction of $480,692.16. Following the completion of the acquisition, the chief executive officer now directly owns 10,597,468 shares in the company, valued at approximately $12,399,037.56. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 23.40% of the stock is currently owned by corporate 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.