Tang Capital Management LLC Acquires New Shares in Kronos Bio, Inc. (NASDAQ:KRON)

Tang Capital Management LLC acquired a new stake in Kronos Bio, Inc. (NASDAQ:KRON) in the fourth quarter, according to its most recent filing with the SEC. The fund acquired 1,003,382 shares of the company’s stock, valued at approximately $953,000. Tang Capital Management LLC owned approximately 1.66% of Kronos Bio at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Kennedy Capital Management LLC grew its position in shares of Kronos Bio by 8.7% during the 4th quarter. Kennedy Capital Management LLC now owns 149,251 shares of the company’s stock valued at $142,000 after purchasing an additional 12,007 shares in the last quarter. Gilead Sciences Inc. purchased a new position in shares of Kronos Bio during the 4th quarter valued at $179,000. Deltec Asset Management LLC purchased a new position in shares of Kronos Bio during the 4th quarter valued at $190,000. Peapod Lane Capital LLC purchased a new position in shares of Kronos Bio during the 4th quarter valued at $534,000. Finally, Renaissance Technologies LLC grew its position in shares of Kronos Bio by 19.7% during 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 in the last quarter. 64.09% of the stock is currently owned by hedge funds and other institutional investors.

Kronos Bio Price Performance

KRON opened at $0.68 on Friday. The company has a fifty day moving average price of $0.82 and a 200-day moving average price of $0.91. The firm has a market capitalization of $41.53 million, a P/E ratio of -0.48 and a beta of 1.75. Kronos Bio, Inc. has a one year low of $0.65 and a one year high of $1.60.

Kronos Bio (NASDAQ:KRON) last released its quarterly earnings results on Tuesday, March 18th. The company reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.13). The firm had revenue of $2.27 million for the quarter, compared to analysts’ expectations of $1.00 million. Kronos Bio had a negative net margin of 867.66% and a negative return on equity of 64.55%. On average, analysts expect that Kronos Bio, Inc. will post -1.36 earnings per share 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.