Kronos Bio (NASDAQ:KRON) Rating Lowered to Neutral at Piper Sandler

Piper Sandler downgraded shares of Kronos Bio (NASDAQ:KRON) from an overweight rating to a neutral rating in a research report released on Thursday, MarketBeat.com reports. They currently have $1.00 price target on the stock, down from their prior price target of $6.00.

KRON has been the topic of a number of other reports. HC Wainwright reissued a “buy” rating and issued a $2.25 target price on shares of Kronos Bio in a research note on Monday, August 19th. TD Cowen lowered shares of Kronos Bio from a “buy” rating to a “hold” rating in a research report on Thursday.

Kronos Bio Stock Performance

KRON stock opened at $0.85 on Thursday. Kronos Bio has a 12-month low of $0.69 and a 12-month high of $1.60. The business’s 50-day moving average is $0.95 and its 200 day moving average is $1.03.

Institutional Trading of Kronos Bio

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KRON. Forefront Analytics LLC grew 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 in the last quarter. Acadian Asset Management LLC boosted its stake in Kronos Bio by 58.8% in the second quarter. Acadian Asset Management LLC now owns 1,229,910 shares of the company’s stock valued at $1,524,000 after acquiring an additional 455,351 shares in the last quarter. Virtu Financial LLC acquired a new position in Kronos Bio in the first quarter valued at $71,000. 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. Hedge funds and other 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.