Analysts Set Crescent Biopharma, Inc. (NASDAQ:CBIO) PT at $28.86

Crescent Biopharma, Inc. (NASDAQ:CBIO) has been assigned an average rating of “Buy” from the nine analysts that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, five have issued a buy recommendation and three have issued a strong buy recommendation on the company. The average 1-year price target among brokers that have covered the stock in the last year is $28.8571.

A number of research firms have weighed in on CBIO. Wall Street Zen lowered shares of Crescent Biopharma from a “hold” rating to a “sell” rating in a research report on Saturday, January 31st. Stifel Nicolaus set a $32.00 price objective on Crescent Biopharma in a research note on Thursday, December 4th. Guggenheim assumed coverage on Crescent Biopharma in a research note on Wednesday, January 21st. They set a “buy” rating and a $35.00 target price for the company. Weiss Ratings reaffirmed a “sell (e-)” rating on shares of Crescent Biopharma in a report on Monday, December 29th. Finally, Piper Sandler began coverage on Crescent Biopharma in a research report on Wednesday, January 28th. They issued an “overweight” rating and a $35.00 price target on the stock.

Insider Transactions at Crescent Biopharma

In related news, Director Fairmount Funds Management Llc bought 1,360,000 shares of the company’s stock in a transaction that occurred on Thursday, December 4th. The shares were acquired at an average price of $13.41 per share, with a total value of $18,237,600.00. Following the completion of the transaction, the director owned 2,747,866 shares of the company’s stock, valued at $36,848,883.06. The trade was a 97.99% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 4.00% of the company’s stock.

Institutional Trading of Crescent Biopharma

Several hedge funds and other institutional investors have recently bought and sold shares of CBIO. BVF Inc. IL acquired a new position in shares of Crescent Biopharma during the second quarter valued at about $22,400,000. Affinity Asset Advisors LLC acquired a new stake in Crescent Biopharma during the second quarter worth about $4,520,000. Frazier Life Sciences Management L.P. bought a new position in Crescent Biopharma during the second quarter valued at 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. acquired a new position in Crescent Biopharma in the 2nd quarter valued at approximately $437,000. 75.19% of the stock is currently owned by institutional investors and hedge funds.

Crescent Biopharma Stock Performance

Shares of CBIO stock opened at $9.71 on Monday. The stock’s 50 day simple moving average is $12.33 and its 200 day simple moving average is $12.67. Crescent Biopharma has a twelve month low of $9.10 and a twelve month high of $37.00. The company has a market capitalization of $134.87 million, a price-to-earnings ratio of -0.46 and a beta of 1.35.

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