372,856 Shares in Crescent Biopharma, Inc. $CBIO Bought by NEXTBio Capital Management LP

NEXTBio Capital Management LP bought a new position in Crescent Biopharma, Inc. (NASDAQ:CBIO) in the 4th quarter, HoldingsChannel.com reports. The firm bought 372,856 shares of the biopharmaceutical company’s stock, valued at approximately $4,422,000. Crescent Biopharma accounts for 2.6% of NEXTBio Capital Management LP’s holdings, making the stock its 15th biggest position.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of America Corp DE bought a new position in Crescent Biopharma in the second quarter worth $149,000. HRT Financial LP bought a new position in Crescent Biopharma in the fourth quarter worth $155,000. Jane Street Group LLC bought a new position in Crescent Biopharma in the fourth quarter worth $272,000. Citadel Advisors LLC bought a new position in Crescent Biopharma in the third quarter worth $304,000. Finally, State Street Corp lifted its position in Crescent Biopharma by 40.8% in the fourth quarter. State Street Corp now owns 26,217 shares of the biopharmaceutical company’s stock worth $311,000 after purchasing an additional 7,600 shares during the period. 75.19% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on CBIO shares. Weiss Ratings raised Crescent Biopharma from a “sell (e)” rating to a “sell (d-)” rating in a research report on Wednesday, May 13th. HC Wainwright reduced their target price on Crescent Biopharma from $25.00 to $22.00 and set a “buy” rating for the company in a research report on Monday, March 2nd. Wall Street Zen raised Crescent Biopharma from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Finally, Stifel Nicolaus set a $29.00 target price on Crescent Biopharma in a research report on Thursday, February 26th. Three investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $28.00.

Crescent Biopharma Stock Performance

Shares of NASDAQ CBIO opened at $17.92 on Friday. The stock has a market cap of $493.88 million, a PE ratio of -1.64 and a beta of 1.16. The business has a fifty day moving average of $19.98 and a two-hundred day moving average of $14.85. Crescent Biopharma, Inc. has a 52-week low of $8.72 and a 52-week high of $27.41.

Crescent Biopharma (NASDAQ:CBIO) last issued its quarterly earnings data on Wednesday, April 29th. The biopharmaceutical company reported ($0.70) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.85) by $0.15. The company had revenue of $1.04 million for the quarter, compared to the consensus estimate of $0.36 million. Analysts predict that Crescent Biopharma, Inc. will post -3.22 earnings per share for the current 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.