Crescent Biopharma, Inc. (NASDAQ:CBIO) Receives Consensus Rating of “Buy” from Analysts

Shares of Crescent Biopharma, Inc. (NASDAQ:CBIO) have earned a consensus recommendation of “Buy” from the nine ratings firms that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have assigned a buy rating and three have given a strong buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $28.00.

A number of research firms have commented on CBIO. Weiss Ratings reissued a “sell (e-)” rating on shares of Crescent Biopharma in a research note on Monday, December 29th. Stifel Nicolaus set a $29.00 price target on Crescent Biopharma in a report on Thursday, February 26th. Guggenheim started coverage on shares of Crescent Biopharma in a research report on Wednesday, January 21st. They set a “buy” rating and a $35.00 price target on the stock. Piper Sandler initiated coverage on shares of Crescent Biopharma in a report on Wednesday, January 28th. They set an “overweight” rating and a $35.00 price objective on the stock. Finally, HC Wainwright dropped their target price on shares of Crescent Biopharma from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Monday.

Crescent Biopharma Trading Down 0.1%

Shares of Crescent Biopharma stock opened at $11.19 on Friday. The stock has a market capitalization of $155.43 million, a price-to-earnings ratio of -0.79 and a beta of 1.31. The firm’s 50-day moving average price is $11.23 and its two-hundred day moving average price is $12.38. Crescent Biopharma has a 1-year low of $8.72 and a 1-year high of $28.77.

Crescent Biopharma (NASDAQ:CBIO) last announced its earnings results on Thursday, February 26th. The biopharmaceutical company reported ($4.01) 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, equities research analysts predict that Crescent Biopharma will post -0.16 EPS for the current year.

Insider Buying and Selling at Crescent Biopharma

In related news, Director Fairmount Funds Management Llc acquired 1,360,000 shares of the company’s stock in a transaction that occurred on Thursday, December 4th. The stock was purchased at an average price of $13.41 per share, for a total transaction of $18,237,600.00. Following the transaction, the director directly owned 2,747,866 shares of the company’s stock, valued at approximately $36,848,883.06. This trade represents a 97.99% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 8.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Fcpm Iii Services B.V. acquired a new position in shares of Crescent Biopharma during the fourth quarter valued at $19,899,000. Vestal Point Capital LP acquired a new stake in Crescent Biopharma in the fourth quarter worth about $17,790,000. BVF Inc. IL bought a new stake in Crescent Biopharma during the 2nd quarter worth about $22,400,000. Opaleye Management Inc. acquired a new position in Crescent Biopharma during the 4th quarter valued at about $13,975,000. Finally, Vanguard Group Inc. acquired a new position in Crescent Biopharma during the 3rd quarter valued at about $7,822,000. 75.19% of the stock is currently owned by institutional investors.

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.