Crescent Biopharma (NASDAQ:CBIO) Issues Earnings Results

Crescent Biopharma (NASDAQ:CBIO) issued its quarterly earnings results on Thursday. The biopharmaceutical company reported ($4.01) earnings per share for the quarter, missing the consensus estimate of ($2.22) by ($1.79), FiscalAI reports. The business had revenue of $10.84 million during the quarter.

Crescent Biopharma Stock Performance

Shares of Crescent Biopharma stock traded down $0.26 during trading on Friday, hitting $12.09. 136,931 shares of the company’s stock were exchanged, compared to its average volume of 216,577. The stock has a market capitalization of $167.93 million, a price-to-earnings ratio of -0.85 and a beta of 1.35. The business has a 50-day simple moving average of $11.28 and a 200-day simple moving average of $12.43. Crescent Biopharma has a 52-week low of $8.72 and a 52-week high of $28.77.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CBIO. Stifel Nicolaus set a $29.00 target price on shares of Crescent Biopharma in a research note on Thursday. Wall Street Zen downgraded shares of Crescent Biopharma from a “hold” rating to a “sell” rating in a research note on Saturday, January 31st. Guggenheim started coverage on shares of Crescent Biopharma in a report on Wednesday, January 21st. They set a “buy” rating and a $35.00 price objective on the stock. Piper Sandler initiated coverage on Crescent Biopharma in a research note on Wednesday, January 28th. They issued an “overweight” rating and a $35.00 target price for the company. Finally, Weiss Ratings reaffirmed a “sell (e-)” rating on shares of Crescent Biopharma in a research report on Monday, December 29th. Three research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Crescent Biopharma presently has an average rating of “Buy” and a consensus price target of $28.43.

Insiders Place Their Bets

In related news, Director Fairmount Funds Management Llc acquired 1,360,000 shares of Crescent Biopharma stock in a transaction on Thursday, December 4th. The stock was acquired at an average price of $13.41 per share, for a total transaction of $18,237,600.00. Following the purchase, the director owned 2,747,866 shares of the company’s stock, valued at approximately $36,848,883.06. This represents a 97.99% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.00% of the company’s stock.

Institutional Trading of Crescent Biopharma

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

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.