TD Cowen Downgrades Kronos Bio (NASDAQ:KRON) to Hold

Kronos Bio (NASDAQ:KRON) was downgraded by equities research analysts at TD Cowen from a “buy” rating to a “hold” rating in a research report issued on Thursday, Marketbeat reports.

Other research analysts have also recently issued reports about the company. Piper Sandler reissued an “overweight” rating and set a $6.00 price objective on shares of Kronos Bio in a report on Tuesday, October 8th. HC Wainwright reissued a “buy” rating and set a $2.25 price objective on shares of Kronos Bio in a report on Monday, August 19th.

Kronos Bio Price Performance

Shares of KRON stock opened at $0.85 on Thursday. The stock has a market cap of $51.25 million, a P/E ratio of -0.60 and a beta of 1.86. Kronos Bio has a one year low of $0.69 and a one year high of $1.60. The stock 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 have recently made changes to their positions in KRON. Virtu Financial LLC bought a new position in shares of Kronos Bio in the first quarter valued at about $71,000. Forefront Analytics LLC raised its holdings in shares of Kronos Bio by 75.0% in the second quarter. Forefront Analytics LLC now owns 134,998 shares of the company’s stock valued at $167,000 after buying an additional 57,867 shares during the last quarter. Acadian Asset Management LLC raised its holdings in shares of Kronos Bio by 17.2% in the first 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 last quarter. Finally, Vanguard Group Inc. raised its holdings 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 buying an additional 247,918 shares during the last quarter. 64.09% of the stock is owned by institutional investors.

About Kronos Bio

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.