Crescent Biopharma, Inc. (CBIO) – What Are Researchers Thinking About This Stock?

Crescent Biopharma, Inc. (NASDAQ:CBIO) has received a consensus recommendation of “Buy” from the seven research firms that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $33.00.

A number of equities research analysts have recently issued reports on the stock. Wedbush reissued an “outperform” rating and set a $27.00 price objective on shares of Crescent Biopharma in a research report on Monday, September 14th. TD Cowen upgraded Crescent Biopharma to a “strong-buy” rating in a research report on Monday, August 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of Crescent Biopharma in a report on Friday, August 7th. HC Wainwright restated a “buy” rating and set a $36.00 target price on shares of Crescent Biopharma in a research note on Monday, October 19th. Finally, UBS Group reaffirmed a “buy” rating and set a $36.00 price target on shares of Crescent Biopharma in a report on Monday, October 19th.

Crescent Biopharma Trading Up 1.2%

CBIO opened at $13.06 on Wednesday. Crescent Biopharma has a 12-month low of $8.72 and a 12-month high of $27.41. The company has a market cap of $485.05 million, a price-to-earnings ratio of -1.94 and a beta of 1.40. The company’s 50 day moving average is $15.46 and its 200 day moving average is $15.84.

Insiders Place Their Bets

In other Crescent Biopharma news, COO Jonathan McNeill sold 3,839 shares of the firm’s stock in a transaction dated Friday, September 18th. The stock was sold at an average price of $16.71, for a total transaction of $64,149.69. Following the sale, the chief operating officer directly owned 134,588 shares of the company’s stock, valued at $2,248,965.48. This trade represents a 2.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Joshua Brumm sold 7,837 shares of the stock in a transaction dated Friday, September 18th. The stock was sold at an average price of $16.71, for a total value of $130,956.27. Following the sale, the chief executive officer owned 271,765 shares of the company’s stock, valued at $4,541,193.15. This represents a 2.80% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 16,726 shares of company stock valued at $285,501 in the last quarter. 24.84% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Crescent Biopharma

Several institutional investors and hedge funds have recently modified their holdings of the stock. Opaleye Management Inc. boosted its position in shares of Crescent Biopharma by 0.5% during the second quarter. Opaleye Management Inc. now owns 1,319,351 shares of the biopharmaceutical company’s stock worth $23,748,000 after acquiring an additional 6,736 shares during the last quarter. Squarepoint Ops LLC bought a new stake in Crescent Biopharma in the 2nd quarter valued at $435,000. Wellington Management Group LLP bought a new position in shares of Crescent Biopharma during the 2nd quarter valued at about $263,000. Stonepine Capital Management LLC bought a new position in shares of Crescent Biopharma during the 2nd quarter valued at about $720,000. Finally, Bank of America Corp DE purchased a new position in shares of Crescent Biopharma during the second quarter valued at about $465,000. Institutional investors own 75.19% of the company’s stock.

Crescent Biopharma Company Profile

Crescent Biopharma, Inc operates as a biopharmaceutical company that develops and designs small molecule therapeutics to treat cancers. The company was founded on September 19, 2024 and is headquartered in Waltham, MA.