Crescent Biopharma, Inc. (NASDAQ:CBIO) Receives Consensus Rating of “Buy” from Brokerages

Crescent Biopharma, Inc. (NASDAQ:CBIO) has been assigned an average rating of “Buy” from the nine analysts that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have given a buy recommendation and three have given a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $28.00.

CBIO has been the subject of several recent research reports. Stifel Nicolaus set a $29.00 price objective on Crescent Biopharma in a report on Thursday, February 26th. Guggenheim initiated coverage on shares of Crescent Biopharma in a report on Wednesday, January 21st. They set a “buy” rating and a $35.00 target price on the stock. Weiss Ratings reissued a “sell (e-)” rating on shares of Crescent Biopharma in a research report on Monday, December 29th. Piper Sandler assumed coverage on shares of Crescent Biopharma in a report on Wednesday, January 28th. They issued an “overweight” rating and a $35.00 price target for the company. Finally, HC Wainwright lowered their price target on shares of Crescent Biopharma from $25.00 to $22.00 and set a “buy” rating for the company in a research report on Monday, March 2nd.

Institutional Trading of Crescent Biopharma

Hedge funds have recently bought and sold shares of the stock. OMERS ADMINISTRATION Corp purchased a new position in shares of Crescent Biopharma in the 4th quarter valued at $138,000. Bank of America Corp DE purchased a new stake in shares of Crescent Biopharma during the 2nd quarter worth $149,000. HRT Financial LP purchased a new stake in shares of Crescent Biopharma during the 4th quarter worth $155,000. Quadrature Capital Ltd bought a new stake in Crescent Biopharma during the fourth quarter valued at about $157,000. Finally, Jane Street Group LLC bought a new stake in Crescent Biopharma during the fourth quarter valued at about $272,000. Hedge funds and other institutional investors own 75.19% of the company’s stock.

Crescent Biopharma Stock Up 12.3%

CBIO opened at $15.16 on Tuesday. The stock’s fifty day moving average is $11.22 and its two-hundred day moving average is $12.11. The company has a market capitalization of $210.57 million, a P/E ratio of -1.07 and a beta of 1.31. Crescent Biopharma has a 52 week low of $8.72 and a 52 week high of $28.77.

Crescent Biopharma (NASDAQ:CBIO) last issued its earnings results on Thursday, February 26th. The biopharmaceutical company reported ($4.01) earnings per share for the quarter, missing the consensus estimate of ($2.22) by ($1.79). The business had revenue of $10.84 million during the quarter. Equities analysts anticipate that Crescent Biopharma will post -0.16 earnings per share for the current year.

About Crescent Biopharma

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.