Kronos Bio, Inc. (NASDAQ:KRON) CEO Purchases $480,692.16 in Stock

Kronos Bio, Inc. (NASDAQ:KRON) CEO Norbert W. Bischofberger acquired 410,848 shares of Kronos Bio stock in a transaction dated Thursday, June 27th. The stock was acquired at an average cost of $1.17 per share, with a total value of $480,692.16. Following the completion of the transaction, the chief executive officer now directly owns 10,597,468 shares of the company’s stock, valued at approximately $12,399,037.56. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Kronos Bio Stock Up 4.5 %

KRON stock opened at $1.17 on Wednesday. Kronos Bio, Inc. has a twelve month low of $0.69 and a twelve month high of $2.29. The company has a market cap of $70.31 million, a PE ratio of -0.59 and a beta of 1.77. The business’s 50-day simple moving average is $0.98 and its 200 day simple moving average is $1.09.

Kronos Bio (NASDAQ:KRON) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.50) earnings per share for the quarter, missing the consensus estimate of ($0.43) by ($0.07). The firm had revenue of $2.52 million for the quarter, compared to analyst estimates of $1.50 million. Kronos Bio had a negative return on equity of 68.67% and a negative net margin of 1,534.11%. On average, equities research analysts anticipate that Kronos Bio, Inc. will post -1.62 EPS for the current year.

Institutional Investors Weigh In On Kronos Bio

Institutional investors and hedge funds have recently bought and sold shares of the business. Virtu Financial LLC bought a new position in shares of Kronos Bio during the 1st quarter worth about $71,000. Marquette Asset Management LLC raised its position in Kronos Bio by 19.8% in the first quarter. Marquette Asset Management LLC now owns 80,369 shares of the company’s stock worth $104,000 after purchasing an additional 13,269 shares in the last quarter. Cerity Partners LLC bought a new position in Kronos Bio during the fourth quarter worth about $513,000. Acuta Capital Partners LLC boosted its holdings in Kronos Bio by 128.2% during the third quarter. Acuta Capital Partners LLC now owns 718,739 shares of the company’s stock valued at $934,000 after purchasing an additional 403,739 shares in the last quarter. Finally, Acadian Asset Management LLC grew its stake in shares of Kronos Bio by 17.2% in the 1st quarter. Acadian Asset Management LLC now owns 774,559 shares of the company’s stock valued at $1,005,000 after purchasing an additional 113,618 shares during the period. Institutional investors own 64.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright cut their target price on shares of Kronos Bio from $2.50 to $2.25 and set a “buy” rating for the company in a research note on Friday, May 3rd.

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.