Jefferies Financial Group Inc. Sells 38,470 Shares of Crescent Biopharma, Inc. $CBIO

Jefferies Financial Group Inc. trimmed its holdings in Crescent Biopharma, Inc. (NASDAQ:CBIO) by 37.5% in the 4th quarter, Holdings Channel reports. The fund owned 64,244 shares of the biopharmaceutical company’s stock after selling 38,470 shares during the quarter. Jefferies Financial Group Inc.’s holdings in Crescent Biopharma were worth $762,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Bank of America Corp DE bought a new position in shares of Crescent Biopharma in the 2nd quarter worth about $149,000. Citadel Advisors LLC bought a new position in shares of Crescent Biopharma in the 3rd quarter worth about $304,000. Two Sigma Investments LP bought a new position in shares of Crescent Biopharma in the 3rd quarter worth about $337,000. Adage Capital Partners GP L.L.C. bought a new position in shares of Crescent Biopharma in the 2nd quarter worth about $1,629,000. Finally, Soleus Capital Management L.P. bought a new position in shares of Crescent Biopharma in the 2nd quarter worth about $6,456,000. 75.19% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Crescent Biopharma Stock Down 3.8%

Shares of CBIO stock opened at $20.65 on Friday. The company has a 50 day moving average price of $19.13 and a 200-day moving average price of $14.51. Crescent Biopharma, Inc. has a 52 week low of $8.72 and a 52 week high of $27.41. The firm has a market capitalization of $569.11 million, a PE ratio of -1.89 and a beta of 1.21.

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