Kronos Bio, Inc. (NASDAQ:KRON) Sees Large Growth in Short Interest

Kronos Bio, Inc. (NASDAQ:KRON) saw a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 577,700 shares, an increase of 16.5% from the December 15th total of 496,000 shares. Based on an average trading volume of 255,900 shares, the short-interest ratio is currently 2.3 days. Currently, 1.5% of the shares of the stock are sold short.

Kronos Bio Stock Down 1.9 %

Shares of KRON traded down $0.02 during trading on Friday, reaching $0.99. 43,891 shares of the company traded hands, compared to its average volume of 296,299. The stock has a 50-day simple moving average of $0.95 and a 200-day simple moving average of $1.02. Kronos Bio has a twelve month low of $0.69 and a twelve month high of $1.60. The stock has a market cap of $59.77 million, a PE ratio of -0.69 and a beta of 1.79.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. TD Cowen lowered Kronos Bio from a “buy” rating to a “hold” rating in a research report on Thursday, November 14th. Piper Sandler cut Kronos Bio from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $6.00 to $1.00 in a report on Thursday, November 14th.

Institutional Trading of Kronos Bio

An institutional investor recently raised its position in Kronos Bio stock. Forefront Analytics LLC boosted its holdings in shares of Kronos Bio, Inc. (NASDAQ:KRON) by 75.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 134,998 shares of the company’s stock after buying an additional 57,867 shares during the quarter. Forefront Analytics LLC owned 0.22% of Kronos Bio worth $167,000 as of its most recent SEC filing. Institutional investors and hedge funds 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.