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

NEXTBio Capital Management LP acquired a new position in Crescent Biopharma, Inc. (NASDAQ:CBIO) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 372,856 shares of the biopharmaceutical company’s stock, valued at approximately $4,422,000. Crescent Biopharma comprises approximately 2.6% of NEXTBio Capital Management LP’s holdings, making the stock its 15th largest position. NEXTBio Capital Management LP owned 2.68% of Crescent Biopharma at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bank of America Corp DE acquired a new position in Crescent Biopharma during the second quarter valued at approximately $149,000. HRT Financial LP acquired a new position in Crescent Biopharma during the fourth quarter valued at approximately $155,000. Jane Street Group LLC acquired a new position in Crescent Biopharma during the fourth quarter valued at approximately $272,000. Citadel Advisors LLC acquired a new position in Crescent Biopharma during the third quarter valued at approximately $304,000. Finally, State Street Corp grew its holdings in Crescent Biopharma by 40.8% during the fourth quarter. State Street Corp now owns 26,217 shares of the biopharmaceutical company’s stock valued at $311,000 after purchasing an additional 7,600 shares during the last quarter. Institutional investors and hedge funds own 75.19% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on CBIO shares. Stifel Nicolaus set a $29.00 price target on Crescent Biopharma in a report on Thursday, February 26th. Wall Street Zen upgraded Crescent Biopharma from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. HC Wainwright lowered 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. Finally, Weiss Ratings upgraded Crescent Biopharma from a “sell (e)” rating to a “sell (d-)” rating in a report on Wednesday, May 13th. Three analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Crescent Biopharma presently has an average rating of “Buy” and an average target price of $28.00.

Crescent Biopharma Trading Down 2.3%

Shares of Crescent Biopharma stock opened at $17.92 on Friday. The company’s fifty day simple moving average is $19.98 and its 200-day simple moving average is $14.85. The company has a market cap of $493.88 million, a price-to-earnings ratio of -1.64 and a beta of 1.16. Crescent Biopharma, Inc. has a 1 year low of $8.72 and a 1 year high of $27.41.

Crescent Biopharma (NASDAQ:CBIO) last announced its quarterly earnings data on Wednesday, April 29th. The biopharmaceutical company reported ($0.70) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.85) by $0.15. The company had revenue of $1.04 million during the quarter, compared to analyst estimates of $0.36 million. As a group, research analysts forecast that Crescent Biopharma, Inc. will post -3.22 earnings per share for the current fiscal year.

Crescent Biopharma 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.