Crescent Biopharma, Inc. (NASDAQ:CBIO) Receives $28.00 Average PT from Analysts

Crescent Biopharma, Inc. (NASDAQ:CBIO) has received a consensus rating of “Buy” from the nine research firms that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, five have given a buy rating and three have issued a strong buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $28.00.

Several brokerages recently issued reports on CBIO. Stifel Nicolaus set a $29.00 price target on Crescent Biopharma in a report on Thursday, February 26th. Weiss Ratings reissued a “sell (e-)” rating on shares of Crescent Biopharma in a report on Monday, December 29th. Piper Sandler began coverage on Crescent Biopharma in a report on Wednesday, January 28th. They issued an “overweight” rating and a $35.00 price target on the stock. Wall Street Zen raised Crescent Biopharma from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Finally, HC Wainwright cut their price target on Crescent Biopharma from $25.00 to $22.00 and set a “buy” rating on the stock in a report on Monday, March 2nd.

Institutional Trading of Crescent Biopharma

Several hedge funds have recently made changes to their positions in CBIO. Fcpm Iii Services B.V. bought a new stake in shares of Crescent Biopharma in the 4th quarter worth approximately $19,899,000. Vestal Point Capital LP bought a new stake in shares of Crescent Biopharma in the 4th quarter worth approximately $17,790,000. BVF Inc. IL lifted its holdings in shares of Crescent Biopharma by 98.1% in the 4th quarter. BVF Inc. IL now owns 2,748,763 shares of the biopharmaceutical company’s stock worth $32,600,000 after purchasing an additional 1,360,900 shares during the last quarter. Opaleye Management Inc. bought a new stake in shares of Crescent Biopharma in the 4th quarter worth approximately $13,975,000. Finally, Vanguard Group Inc. bought a new stake in shares of Crescent Biopharma in the 3rd quarter worth approximately $7,822,000. Institutional investors own 75.19% of the company’s stock.

Crescent Biopharma Stock Up 1.9%

NASDAQ:CBIO opened at $21.69 on Friday. The business’s 50 day moving average is $13.79 and its two-hundred day moving average is $12.86. Crescent Biopharma has a 52 week low of $8.72 and a 52 week high of $28.77. The company has a market cap of $301.27 million, a PE ratio of -1.53 and a beta of 1.04.

Crescent Biopharma (NASDAQ:CBIO) last released its earnings results on Thursday, February 26th. The biopharmaceutical company reported ($4.01) EPS for the quarter, missing analysts’ consensus estimates of ($2.22) by ($1.79). The business had revenue of $10.84 million during the quarter. As a group, sell-side analysts expect that Crescent Biopharma will post -3.72 EPS for the current fiscal year.

Crescent Biopharma Company Profile

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.