Crescent Biopharma (NASDAQ:CBIO) Shares Pass Above 200-Day Moving Average – Time to Sell?

Shares of Crescent Biopharma, Inc. (NASDAQ:CBIO) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $12.17 and traded as high as $18.50. Crescent Biopharma shares last traded at $18.37, with a volume of 199,493 shares.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Wall Street Zen upgraded shares of Crescent Biopharma from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Stifel Nicolaus set a $29.00 price objective on shares of Crescent Biopharma in a research note on Thursday, February 26th. Weiss Ratings reissued a “sell (e-)” rating on shares of Crescent Biopharma in a report on Monday, December 29th. Guggenheim began coverage on shares of Crescent Biopharma in a research report on Wednesday, January 21st. They set a “buy” rating and a $35.00 target price on the stock. Finally, Piper Sandler started coverage on shares of Crescent Biopharma in a report on Wednesday, January 28th. They issued an “overweight” rating and a $35.00 target price for the company. Three investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $28.00.

Crescent Biopharma Stock Up 10.5%

The business’s fifty day moving average price is $11.37 and its 200 day moving average price is $12.17. The firm has a market capitalization of $255.16 million, a PE ratio of -1.29 and a beta of 1.31.

Crescent Biopharma (NASDAQ:CBIO) last posted its quarterly earnings data on Thursday, February 26th. The biopharmaceutical company reported ($4.01) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.22) by ($1.79). The firm had revenue of $10.84 million during the quarter. As a group, sell-side analysts forecast that Crescent Biopharma, Inc. will post -0.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. BVF Inc. IL purchased a new stake in shares of Crescent Biopharma in the second quarter worth about $22,400,000. Affinity Asset Advisors LLC purchased a new stake in shares of Crescent Biopharma during the 2nd quarter valued at about $4,520,000. Frazier Life Sciences Management L.P. purchased a new stake in shares of Crescent Biopharma during the 2nd quarter valued at about $7,322,000. Braidwell LP acquired a new position in Crescent Biopharma during the 2nd quarter worth approximately $4,221,000. Finally, Jefferies Financial Group Inc. lifted its position in Crescent Biopharma by 279.1% during the 3rd quarter. Jefferies Financial Group Inc. now owns 102,714 shares of the biopharmaceutical company’s stock worth $1,221,000 after acquiring an additional 75,618 shares in the last quarter. Hedge funds and other institutional investors own 75.19% of the company’s stock.

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.