Crescent Biopharma, Inc. (NASDAQ:CBIO) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Crescent Biopharma, Inc. (NASDAQ:CBIO) have received an average recommendation of “Buy” from the nine research firms that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, five have assigned a buy recommendation and three have given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $28.00.

Several brokerages have recently weighed in on CBIO. HC Wainwright cut their price objective on shares of Crescent Biopharma from $25.00 to $22.00 and set a “buy” rating on the stock in a report on Monday, March 2nd. Weiss Ratings upgraded shares of Crescent Biopharma from a “sell (e)” rating to a “sell (d-)” rating in a report on Wednesday, May 13th. Wall Street Zen upgraded shares of Crescent Biopharma from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Finally, Stifel Nicolaus set a $29.00 price objective on shares of Crescent Biopharma in a report on Thursday, February 26th.

Crescent Biopharma Price Performance

Shares of CBIO stock opened at $18.00 on Friday. The firm has a market cap of $496.08 million, a P/E ratio of -1.65 and a beta of 1.16. Crescent Biopharma has a 1-year low of $8.72 and a 1-year high of $27.41. The firm’s 50-day simple moving average is $19.86 and its 200-day simple moving average is $14.69.

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

Institutional Trading of Crescent Biopharma

Institutional investors and hedge funds have recently bought and sold shares of the business. Jefferies Financial Group Inc. increased its position in Crescent Biopharma by 279.1% during the 3rd quarter. Jefferies Financial Group Inc. now owns 102,714 shares of the biopharmaceutical company’s stock worth $1,221,000 after purchasing an additional 75,618 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in Crescent Biopharma during the 4th quarter worth approximately $157,000. HRT Financial LP acquired a new stake in Crescent Biopharma during the 4th quarter worth approximately $155,000. Bank of America Corp DE acquired a new stake in Crescent Biopharma during the 2nd quarter worth approximately $149,000. Finally, OMERS ADMINISTRATION Corp acquired a new stake in Crescent Biopharma during the 4th quarter worth approximately $138,000. Institutional investors and hedge funds own 75.19% of the company’s stock.

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.