Crescent Biopharma (NASDAQ:CBIO) Given New $40.00 Price Target at HC Wainwright

Crescent Biopharma (NASDAQ:CBIO) had its price target raised by HC Wainwright from $36.00 to $40.00 in a research note released on Friday,Benzinga reports. They currently have a buy rating on the biopharmaceutical company’s stock.

Other equities research analysts have also recently issued reports about the company. TD Cowen upgraded Crescent Biopharma to a “strong-buy” rating in a research note on Monday, August 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Crescent Biopharma in a research report on Wednesday, November 4th. Wedbush reiterated an “outperform” rating and issued a $27.00 target price on shares of Crescent Biopharma in a research note on Monday, September 14th. Finally, UBS Group reissued a “buy” rating and issued a $36.00 price target on shares of Crescent Biopharma in a research report on Monday, October 19th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Crescent Biopharma has a consensus rating of “Moderate Buy” and an average price target of $33.17.

Crescent Biopharma Stock Performance

NASDAQ CBIO opened at $14.15 on Friday. Crescent Biopharma has a 52-week low of $8.72 and a 52-week high of $27.41. The company has a 50-day simple moving average of $14.80 and a 200 day simple moving average of $15.88.

Crescent Biopharma (NASDAQ:CBIO) last released its earnings results on Thursday, November 12th. The biopharmaceutical company reported ($0.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.20). The firm had revenue of $3.12 million for the quarter, compared to analysts’ expectations of $0.62 million. As a group, analysts anticipate that Crescent Biopharma will post -2.93 earnings per share for the current year.

Insider Transactions at Crescent Biopharma

In related news, CEO Joshua T. Brumm sold 7,837 shares of the company’s stock in a transaction that occurred on Friday, September 18th. The shares were sold at an average price of $16.71, for a total value of $130,956.27. Following the transaction, the chief executive officer directly owned 271,765 shares in the company, valued at approximately $4,541,193.15. This represents a 2.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Jonathan McNeill sold 3,839 shares of the company’s stock in a transaction that occurred on Friday, September 18th. The stock was sold at an average price of $16.71, for a total transaction of $64,149.69. Following the completion of the transaction, the chief operating officer owned 134,588 shares in the company, valued at approximately $2,248,965.48. This trade represents a 2.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 16,726 shares of company stock worth $285,501 over the last 90 days. Corporate insiders own 24.84% of the company’s stock.

Hedge Funds Weigh In On Crescent Biopharma

A number of institutional investors have recently made changes to their positions in the stock. State Street Corp lifted its holdings in shares of Crescent Biopharma by 33.6% during the 3rd quarter. State Street Corp now owns 843,070 shares of the biopharmaceutical company’s stock worth $12,300,000 after acquiring an additional 211,896 shares during the last quarter. ACT Capital Partners L.P. bought a new stake in Crescent Biopharma in the 3rd quarter worth approximately $168,000. Simplex Trading LLC purchased a new stake in Crescent Biopharma in the third quarter worth approximately $50,000. Opaleye Management Inc. grew its position in Crescent Biopharma by 0.5% during the second quarter. Opaleye Management Inc. now owns 1,319,351 shares of the biopharmaceutical company’s stock valued at $23,748,000 after acquiring an additional 6,736 shares during the last quarter. Finally, Squarepoint Ops LLC purchased a new position in shares of Crescent Biopharma during the second quarter worth approximately $435,000. Institutional investors own 75.19% of the company’s stock.

Latest Crescent Biopharma News

Here’s some of the latest news about CBIO:

• Positive Sentiment: Crescent completed dose escalation in its Phase 1/2 ASCEND trial of CR-001, with more than 125 patients treated, and expects initial monotherapy data—including results in first-line non-small cell lung cancer—in Q1 2027. It also began dosing the first patient in the global APOLLO trial of CR-002. Multiple trial readouts are anticipated in 2027. Third-quarter results and business highlights
• Neutral Sentiment: Piper Sandler lowered its target from $35 to $32 but kept an “overweight” rating, reflecting a reduced valuation outlook while remaining positive on the shares. Piper Sandler recommendations
• Negative Sentiment: Third-quarter EPS was a loss of $0.90, worse than analysts’ expected loss of $0.70. Revenue of $3.12 million exceeded estimates, but net loss widened to $37.7 million from $24.6 million a year earlier as research and development spending increased. Third-quarter results and business highlights

Crescent Biopharma Company Profile

Crescent Biopharma is a clinical-stage biotechnology company focused on developing medicines for cancer. Its research centers on antibody-based treatments, including therapies designed to target tumor cells and support the body’s immune response. The company’s work is directed toward advancing oncology drug candidates through clinical development. Its pipeline and programs may change as research progresses, and its products are investigational rather than established treatments. Crescent Biopharma is focused on developing its therapies for cancer patients; detailed information about its geographic operations and leadership is not included here.