Kronos Bio (NASDAQ:KRON) Stock Price Down 1% – Should You Sell?

Kronos Bio, Inc. (NASDAQ:KRON) shares dropped 1% during mid-day trading on Monday . The company traded as low as $0.91 and last traded at $0.95. Approximately 238,983 shares changed hands during trading, an increase of 15% from the average daily volume of 207,575 shares. The stock had previously closed at $0.96.

Analyst Ratings Changes

A number of research firms have recently weighed in on KRON. TD Cowen lowered shares of Kronos Bio from a “buy” rating to a “hold” rating in a research report on Thursday, November 14th. Piper Sandler lowered shares of Kronos Bio from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $6.00 to $1.00 in a research report on Thursday, November 14th.

Kronos Bio Stock Down 1.0 %

The firm’s 50 day simple moving average is $0.99 and its 200-day simple moving average is $0.97. The company has a market capitalization of $57.32 million, a PE ratio of -0.66 and a beta of 1.79.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. GTS Securities LLC acquired a new stake in Kronos Bio during the fourth quarter valued at approximately $48,000. Velan Capital Investment Management LP acquired a new stake in Kronos Bio during the fourth quarter valued at approximately $33,000. Squarepoint Ops LLC acquired a new stake in Kronos Bio during the fourth quarter valued at approximately $93,000. Tang Capital Management LLC acquired a new stake in shares of Kronos Bio during the 4th quarter worth approximately $953,000. Finally, Gilead Sciences Inc. acquired a new stake in shares of Kronos Bio during the 4th quarter worth approximately $179,000. 64.09% of the stock is owned by institutional investors and hedge funds.

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.