Crescent Biopharma (NASDAQ:CBIO) Upgraded by Wall Street Zen to “Hold” Rating

Wall Street Zen upgraded shares of Crescent Biopharma (NASDAQ:CBIO) from a sell rating to a hold rating in a research report report published on Friday.

Several other research analysts also recently weighed in on the stock. Stifel Nicolaus set a $32.00 price objective on shares of Crescent Biopharma in a report on Thursday, December 4th. Weiss Ratings reissued a “sell (e-)” rating on shares of Crescent Biopharma in a research report on Monday, December 29th. Finally, Guggenheim initiated coverage on shares of Crescent Biopharma in a research report on Wednesday. They issued a “buy” rating and a $35.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $27.83.

Crescent Biopharma Stock Performance

CBIO stock opened at $12.80 on Friday. The stock’s 50 day simple moving average is $12.85 and its 200 day simple moving average is $12.84. The company has a market cap of $177.79 million, a P/E ratio of -0.60 and a beta of 1.35. Crescent Biopharma has a fifty-two week low of $9.81 and a fifty-two week high of $37.00.

Crescent Biopharma (NASDAQ:CBIO) last announced its quarterly earnings data on Thursday, November 6th. The biopharmaceutical company reported ($1.27) EPS for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.26). Equities analysts predict that Crescent Biopharma will post -0.16 earnings per share for the current year.

Insider Activity at Crescent Biopharma

In other Crescent Biopharma news, Director Fairmount Funds Management Llc bought 1,360,000 shares of the business’s stock in a transaction dated Thursday, December 4th. The shares were purchased at an average price of $13.41 per share, for a total transaction of $18,237,600.00. Following the purchase, the director directly owned 2,747,866 shares of the company’s stock, valued at approximately $36,848,883.06. This represents a 97.99% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Crescent Biopharma

Hedge funds have recently bought and sold shares of the business. BVF Inc. IL bought a new position in Crescent Biopharma in the 2nd quarter valued at $22,400,000. Affinity Asset Advisors LLC bought a new stake in shares of Crescent Biopharma during the 2nd quarter worth $4,520,000. Frazier Life Sciences Management L.P. purchased a new position in shares of Crescent Biopharma in the 2nd quarter worth about $7,322,000. Braidwell LP bought a new position in Crescent Biopharma during the second quarter valued at about $4,221,000. Finally, Jefferies Financial Group Inc. bought a new position in Crescent Biopharma during the second quarter valued at about $437,000. 75.19% of the stock is currently owned by institutional investors.

About Crescent Biopharma

Crescent Biopharma, Inc (NASDAQ: CBIO) is a clinical‐stage immuno‐oncology company focused on the discovery, development and commercialization of novel therapies for patients with solid tumors. The company’s research strategy centers on combination approaches that enhance anti‐tumor immune responses by simultaneously targeting multiple pathways implicated in immune evasion and tumor growth.

The company’s lead candidate, CPB-201, is a bifunctional fusion protein designed to block programmed death-ligand 1 (PD-L1) while neutralizing transforming growth factor-beta (TGF-β), with the goal of restoring T-cell activity and reducing tumor fibrosis.