Acadian Asset Management LLC Boosts Holdings in Kronos Bio, Inc. (NASDAQ:KRON)

Acadian Asset Management LLC grew its holdings in shares of Kronos Bio, Inc. (NASDAQ:KRON) by 58.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,229,910 shares of the company’s stock after purchasing an additional 455,351 shares during the quarter. Acadian Asset Management LLC’s holdings in Kronos Bio were worth $1,524,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in KRON. Vanguard Group Inc. boosted its position in Kronos Bio by 14.6% during the first quarter. Vanguard Group Inc. now owns 1,948,595 shares of the company’s stock worth $2,533,000 after purchasing an additional 247,918 shares during the period. Virtu Financial LLC bought a new position in Kronos Bio during the first quarter worth about $71,000. Finally, Marquette Asset Management LLC boosted its position in shares of 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 acquiring an additional 13,269 shares during the period. Institutional investors own 64.09% of the company’s stock.

Wall Street Analyst Weigh In

Separately, HC Wainwright restated a “buy” rating and issued a $2.25 price objective on shares of Kronos Bio in a research report on Monday, August 19th.

Insider Buying and Selling at Kronos Bio

In related news, CEO Norbert W. Bischofberger bought 410,848 shares of the company’s stock in a transaction on Thursday, June 27th. The stock was acquired at an average cost of $1.17 per share, for a total transaction of $480,692.16. Following the completion of the transaction, the chief executive officer now directly owns 10,597,468 shares in the company, valued at approximately $12,399,037.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 23.40% of the stock is currently owned by company insiders.

Kronos Bio Trading Up 0.6 %

KRON stock opened at $0.95 on Monday. The firm has a 50 day moving average of $1.13 and a 200-day moving average of $1.09. Kronos Bio, Inc. has a 12 month low of $0.69 and a 12 month high of $1.60. The firm has a market capitalization of $57.09 million, a P/E ratio of -0.48 and a beta of 1.87.

Kronos Bio (NASDAQ:KRON) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.27) EPS for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.05. Kronos Bio had a negative net margin of 1,222.83% and a negative return on equity of 68.82%. The company had revenue of $2.69 million during the quarter, compared to analyst estimates of $1.75 million. Sell-side analysts predict that Kronos Bio, Inc. will post -1.33 EPS for the current year.

Kronos Bio 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.