Velan Capital Investment Management LP Acquires Shares of 35,000 Kronos Bio, Inc. (NASDAQ:KRON)

Velan Capital Investment Management LP acquired a new stake in shares of Kronos Bio, Inc. (NASDAQ:KRON) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 35,000 shares of the company’s stock, valued at approximately $33,000. Velan Capital Investment Management LP owned approximately 0.06% of Kronos Bio at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of KRON. Tang Capital Management LLC purchased a new stake in Kronos Bio during the fourth quarter valued at about $953,000. Peapod Lane Capital LLC acquired a new position in shares of Kronos Bio in the 4th quarter valued at about $534,000. Deltec Asset Management LLC acquired a new position in shares of Kronos Bio in the 4th quarter valued at about $190,000. Renaissance Technologies LLC increased its holdings in shares of Kronos Bio by 19.7% in the 4th quarter. Renaissance Technologies LLC now owns 1,171,808 shares of the company’s stock valued at $1,113,000 after purchasing an additional 192,754 shares during the period. Finally, Gilead Sciences Inc. acquired a new position in shares of Kronos Bio in the 4th quarter valued at about $179,000. 64.09% of the stock is owned by hedge funds and other institutional investors.

Kronos Bio Price Performance

Shares of KRON opened at $0.67 on Tuesday. The company has a market capitalization of $41.03 million, a price-to-earnings ratio of -0.47 and a beta of 1.75. Kronos Bio, Inc. has a fifty-two week low of $0.65 and a fifty-two week high of $1.60. The business’s 50-day moving average is $0.82 and its 200-day moving average is $0.91.

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

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.