Short Interest in Kronos Bio, Inc. (NASDAQ:KRON) Drops By 13.4%

Kronos Bio, Inc. (NASDAQ:KRON) was the target of a large decline in short interest in March. As of March 15th, there was short interest totalling 748,000 shares, a decline of 13.4% from the February 28th total of 863,500 shares. Currently, 1.9% of the company’s stock are sold short. Based on an average daily volume of 231,500 shares, the short-interest ratio is currently 3.2 days.

Kronos Bio Stock Up 2.8 %

Shares of KRON traded up $0.02 on Wednesday, hitting $0.83. The company’s stock had a trading volume of 15,676 shares, compared to its average volume of 187,348. The firm has a market capitalization of $50.67 million, a price-to-earnings ratio of -0.58 and a beta of 1.79. The firm’s fifty day moving average price is $0.96 and its 200-day moving average price is $0.95. Kronos Bio has a fifty-two week low of $0.69 and a fifty-two week high of $1.60.

Kronos Bio (NASDAQ:KRON) last released its quarterly earnings results on Tuesday, March 18th. The company reported ($0.43) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.13). Kronos Bio had a negative net margin of 867.66% and a negative return on equity of 64.55%. The company had revenue of $2.27 million during the quarter, compared to analyst estimates of $1.00 million. As a group, equities analysts predict that Kronos Bio will post -1.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Kronos Bio

A number of large investors have recently added to or reduced their stakes in the company. Kennedy Capital Management LLC boosted its position in shares of Kronos Bio by 8.7% during the fourth quarter. Kennedy Capital Management LLC now owns 149,251 shares of the company’s stock worth $142,000 after buying an additional 12,007 shares during the period. Velan Capital Investment Management LP acquired a new position in Kronos Bio during the 4th quarter worth approximately $33,000. GTS Securities LLC bought a new position in shares of Kronos Bio during the 4th quarter worth approximately $48,000. Squarepoint Ops LLC bought a new position in shares of Kronos Bio during the 4th quarter worth approximately $93,000. Finally, Gilead Sciences Inc. acquired a new stake in shares of Kronos Bio in the fourth quarter valued at approximately $179,000. 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.