Kronos Bio (NASDAQ:KRON) Stock Rating Lowered by TD Cowen

Kronos Bio (NASDAQ:KRON) was downgraded by equities researchers at TD Cowen from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday,Briefing.com Automated Import reports.

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

Kronos Bio Stock Performance

NASDAQ KRON opened at $0.88 on Thursday. The company has a market capitalization of $53.06 million, a PE ratio of -0.51 and a beta of 1.86. The business’s fifty day moving average is $0.95 and its 200 day moving average is $1.03. Kronos Bio has a fifty-two week low of $0.69 and a fifty-two week high of $1.60.

Hedge Funds Weigh In On Kronos Bio

Hedge funds have recently made changes to their positions in the business. Virtu Financial LLC bought a new position in shares of Kronos Bio in the first quarter worth about $71,000. Forefront Analytics LLC boosted its stake 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 worth $167,000 after acquiring an additional 57,867 shares during the period. Acadian Asset Management LLC boosted its stake in Kronos Bio by 17.2% during 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. 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 valued at $2,533,000 after buying an additional 247,918 shares during the last quarter. Institutional investors own 64.09% of the company’s stock.

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.