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Wednesday, October 28, 2020

Kronos Bio Inc. (NASDAQ:KRON) is Gaining Momentum on Earnings Catalyst

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Kronos Bio Inc. (KRON) shares are trading at higher $31.57.

To add more color to this target, the company’s high over the last year is $32.00 and the low is $25.50 while the S&P 500 is up 16.41%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, KRON reported a profit of $97.71 million. Kronos Bio Inc. also saw revenues increase to $161.27 million. In addition, KRON has free cash flow of $33.91 million as of 03-2007. The company’s EBITDA came in at $26.05 million which compares well with its peers.

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Company Outlook

KRON has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 0.59 million and more growth is possible in the weeks ahead. Kronos Bio Inc. KRON also noted assets of $714.78 million at the end of the last quarter. Investors should also keep an eye on sector updates as KRON has historically followed its peers on positive news.

All told, Kronos Bio Inc. KRON has strung together solid data and demonstrated underlying fundamentals. At its current valuation, KRON represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

KRON is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of KRON stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in KRON, either long or short, and we have not been compensated for this article.

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