HC Wainwright Reaffirms Buy Rating for Kronos Bio (NASDAQ:KRON)

HC Wainwright reaffirmed their buy rating on shares of Kronos Bio (NASDAQ:KRON) in a research report sent to investors on Monday, Benzinga reports. The firm currently has a $2.25 price objective on the stock. HC Wainwright also issued estimates for Kronos Bio’s Q3 2024 earnings at ($0.29) EPS, Q4 2024 earnings at ($0.30) EPS, FY2024 earnings at ($1.36) EPS, Q1 2025 earnings at ($0.30) EPS, Q2 2025 earnings at ($0.31) EPS, Q3 2025 earnings at ($0.32) EPS, Q4 2025 earnings at ($0.33) EPS and FY2025 earnings at ($1.26) EPS.

Kronos Bio Trading Down 2.6 %

Shares of KRON opened at $0.98 on Monday. The company has a market cap of $59.09 million, a price-to-earnings ratio of -0.49 and a beta of 1.89. The company’s fifty day simple moving average is $1.16 and its 200 day simple moving average is $1.10. Kronos Bio has a 1-year low of $0.69 and a 1-year high of $1.60.

Kronos Bio (NASDAQ:KRON) last issued its earnings results on Thursday, August 8th. The company reported ($0.27) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.05. Kronos Bio had a negative net margin of 1,534.11% and a negative return on equity of 68.67%. The company had revenue of $2.69 million for the quarter, compared to analysts’ expectations of $1.75 million. As a group, research analysts forecast that Kronos Bio will post -1.62 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Norbert W. Bischofberger acquired 881,913 shares of the firm’s stock in a transaction on Wednesday, June 12th. The shares were purchased at an average cost of $1.24 per share, for a total transaction of $1,093,572.12. Following the completion of the acquisition, the chief executive officer now directly owns 7,375,616 shares in the company, valued at $9,145,763.84. The purchase was disclosed in a filing with the SEC, which is available at this link. 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 purchased at an average cost of $1.24 per share, for a total transaction of $1,093,572.12. Following the completion of the transaction, the chief executive officer now directly owns 7,375,616 shares of the company’s stock, valued at approximately $9,145,763.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Norbert W. Bischofberger acquired 1,378,901 shares of Kronos Bio stock in a transaction dated Monday, June 10th. The shares were purchased at an average price of $0.88 per share, with a total value of $1,213,432.88. Following the acquisition, the chief executive officer now owns 5,749,395 shares of the company’s stock, valued at $5,059,467.60. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 2,671,662 shares of company stock valued at $2,787,697. 23.40% of the stock is owned by insiders.

Institutional Trading of Kronos Bio

A number of institutional investors have recently bought and sold shares of KRON. Virtu Financial LLC bought a new stake in shares of Kronos Bio in the first quarter valued at approximately $71,000. Marquette Asset Management LLC raised its stake in Kronos Bio by 19.8% in the first quarter. Marquette Asset Management LLC now owns 80,369 shares of the company’s stock valued at $104,000 after purchasing an additional 13,269 shares in the last quarter. Forefront Analytics LLC lifted its position 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 purchasing an additional 57,867 shares during the period. Cerity Partners LLC acquired a new stake in shares of Kronos Bio during the 4th quarter worth approximately $513,000. Finally, Acadian Asset Management LLC increased its stake in 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 acquiring an additional 113,618 shares during the last quarter. Institutional investors own 64.09% of the company’s stock.

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.