Crescent Biopharma (NASDAQ:CBIO) Lowered to “Sell” Rating by Wall Street Zen

Crescent Biopharma (NASDAQ:CBIO) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

CBIO has been the topic of a number of other reports. Jefferies Financial Group assumed coverage on Crescent Biopharma in a research report on Monday, August 25th. They set a “buy” rating and a $26.00 target price on the stock. HC Wainwright reaffirmed a “buy” rating and set a $25.00 price target on shares of Crescent Biopharma in a research note on Wednesday, August 27th. Weiss Ratings reissued a “sell (e-)” rating on shares of Crescent Biopharma in a research note on Monday. Finally, Stifel Nicolaus set a $32.00 target price on shares of Crescent Biopharma in a report on Thursday. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $26.40.

Crescent Biopharma Stock Performance

Crescent Biopharma stock opened at $13.07 on Friday. The company has a 50 day simple moving average of $12.72. Crescent Biopharma has a 1-year low of $9.81 and a 1-year high of $37.00. The stock has a market capitalization of $181.54 million, a P/E ratio of -0.62 and a beta of 1.32.

Crescent Biopharma (NASDAQ:CBIO) last released its earnings results on Thursday, November 6th. The biopharmaceutical company reported ($1.27) EPS for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.26). Research analysts expect that Crescent Biopharma will post -0.16 EPS for the current fiscal year.

Institutional Trading of Crescent Biopharma

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of America Corp DE acquired a new position in Crescent Biopharma in the 2nd quarter valued at $149,000. Citadel Advisors LLC purchased a new stake in shares of Crescent Biopharma in the third quarter valued at $304,000. Two Sigma Investments LP acquired a new position in Crescent Biopharma in the third quarter valued at $337,000. Jefferies Financial Group Inc. acquired a new position in Crescent Biopharma in the second quarter valued at $437,000. Finally, Adage Capital Partners GP L.L.C. purchased a new position in Crescent Biopharma during the second quarter worth about $1,629,000. 75.19% of the stock is owned by hedge funds and other institutional investors.

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.