Crescent Biopharma (NASDAQ:CBIO) Shares Pass Above Two Hundred Day Moving Average – What’s Next?

Crescent Biopharma, Inc. (NASDAQ:CBIO)’s share price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $0.00 and traded as high as $14.26. Crescent Biopharma shares last traded at $13.60, with a volume of 53,356 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on CBIO shares. HC Wainwright started coverage on Crescent Biopharma in a research report on Monday, August 11th. They issued a “buy” rating and a $25.00 target price on the stock. Lifesci Capital raised Crescent Biopharma to a “strong-buy” rating and set a $22.00 target price on the stock in a research report on Wednesday, June 18th. Wall Street Zen lowered Crescent Biopharma from a “hold” rating to a “sell” rating in a research report on Saturday, August 2nd. Wedbush initiated coverage on shares of Crescent Biopharma in a research note on Monday, July 14th. They set an “outperform” rating and a $27.00 price objective for the company. Finally, TD Cowen upgraded shares of Crescent Biopharma to a “strong-buy” rating in a research note on Friday, June 20th. Two equities research analysts have rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $25.50.

Crescent Biopharma Price Performance

The stock has a market cap of $265.88 million, a price-to-earnings ratio of -0.39 and a beta of 1.51. The business has a fifty day simple moving average of $13.87.

Institutional Trading of Crescent Biopharma

A number of hedge funds have recently made changes to their positions in the business. BVF Inc. IL acquired a new stake in shares of Crescent Biopharma in the second quarter valued at approximately $22,400,000. Perceptive Advisors LLC acquired a new stake in shares of Crescent Biopharma in the second quarter valued at approximately $7,322,000. Commodore Capital LP acquired a new position in Crescent Biopharma in the 2nd quarter valued at about $7,322,000. Frazier Life Sciences Management L.P. acquired a new position in Crescent Biopharma in the 2nd quarter valued at about $7,322,000. Finally, Soleus Capital Management L.P. acquired a new position in Crescent Biopharma in the 2nd quarter valued at about $6,456,000. 75.19% of the stock is owned by institutional investors and hedge funds.

About Crescent Biopharma

Crescent Biopharma, Inc operates as a biopharmaceutical company that develops and designs small molecule therapeutics to treat cancers. The company was founded on September 19, 2024 and is headquartered in Waltham, MA.