Brokerages Set Crescent Biopharma, Inc. (NASDAQ:CBIO) PT at $26.40

Shares of Crescent Biopharma, Inc. (NASDAQ:CBIO) have been given a consensus rating of “Buy” by the seven research firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, four have issued a buy rating and two have given a strong buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $26.40.

A number of equities research analysts have recently issued reports on CBIO shares. Stifel Nicolaus set a $32.00 target price on shares of Crescent Biopharma in a research report on Thursday, December 4th. Jefferies Financial Group assumed coverage on shares of Crescent Biopharma in a research note on Monday, August 25th. They issued a “buy” rating and a $26.00 price objective for the company. Wall Street Zen lowered shares of Crescent Biopharma from a “hold” rating to a “sell” rating in a research report on Saturday, December 6th. Weiss Ratings reiterated a “sell (e-)” rating on shares of Crescent Biopharma in a research report on Monday, December 15th. Finally, HC Wainwright reiterated a “buy” rating and issued a $25.00 price target on shares of Crescent Biopharma in a research note on Wednesday, August 27th.

Insider Activity

In related news, Director Fairmount Funds Management Llc bought 1,360,000 shares of Crescent Biopharma stock in a transaction dated Thursday, December 4th. The shares were bought at an average cost of $13.41 per share, with a total value of $18,237,600.00. Following the acquisition, the director owned 2,747,866 shares in the company, valued at $36,848,883.06. This trade represents a 97.99% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On Crescent Biopharma

A number of large investors have recently bought and sold shares of CBIO. Affinity Asset Advisors LLC bought a new stake in shares of Crescent Biopharma during the 2nd quarter worth approximately $4,520,000. BVF Inc. IL acquired a new position in Crescent Biopharma during the second quarter valued at approximately $22,400,000. Frazier Life Sciences Management L.P. bought a new stake in Crescent Biopharma during the second quarter worth $7,322,000. Braidwell LP bought a new stake in Crescent Biopharma during the second quarter worth $4,221,000. Finally, Jefferies Financial Group Inc. acquired a new stake in shares of Crescent Biopharma in the 2nd quarter valued at $437,000. 75.19% of the stock is currently owned by institutional investors and hedge funds.

Crescent Biopharma Trading Down 2.1%

Shares of NASDAQ:CBIO opened at $11.96 on Friday. Crescent Biopharma has a 12-month low of $9.81 and a 12-month high of $37.00. The stock’s 50 day moving average price is $13.03. The company has a market capitalization of $166.12 million, a PE ratio of -0.56 and a beta of 1.32.

Crescent Biopharma (NASDAQ:CBIO) last released its quarterly earnings results on Thursday, November 6th. The biopharmaceutical company reported ($1.27) earnings per share for the quarter, missing the consensus estimate of ($1.01) by ($0.26). On average, analysts forecast that Crescent Biopharma will post -0.16 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.