Kronos Bio, Inc. (NASDAQ:KRON) Sees Significant Decrease in Short Interest

Kronos Bio, Inc. (NASDAQ:KRON) was the recipient of a large decline in short interest during the month of March. As of March 31st, there was short interest totalling 611,600 shares, a decline of 18.2% from the March 15th total of 748,000 shares. Currently, 1.6% of the shares of the company are short sold. Based on an average trading volume of 188,000 shares, the short-interest ratio is currently 3.3 days.

Institutional Trading of Kronos Bio

A number of hedge funds have recently modified their holdings of KRON. Velan Capital Investment Management LP bought a new position in Kronos Bio in the fourth quarter worth $33,000. GTS Securities LLC acquired a new stake in shares of Kronos Bio during the 4th quarter valued at about $48,000. Squarepoint Ops LLC acquired a new position in Kronos Bio in the fourth quarter worth about $93,000. Kennedy Capital Management LLC lifted its stake in 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 purchasing an additional 12,007 shares during the period. Finally, Gilead Sciences Inc. acquired a new stake in Kronos Bio during the fourth quarter valued at approximately $179,000. Institutional investors own 64.09% of the company’s stock.

Kronos Bio Stock Performance

Shares of NASDAQ:KRON traded up $0.01 during midday trading on Friday, hitting $0.89. The company’s stock had a trading volume of 11,027 shares, compared to its average volume of 266,350. The stock’s 50 day simple moving average is $0.90 and its 200 day simple moving average is $0.94. Kronos Bio has a fifty-two week low of $0.69 and a fifty-two week high of $1.60. The stock has a market capitalization of $54.14 million, a price-to-earnings ratio of -0.62 and a beta of 1.78.

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

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.