Crescent Biopharma (NASDAQ:CBIO) Stock Crosses Above Two Hundred Day Moving Average – Should You Sell?

Crescent Biopharma, Inc. (NASDAQ:CBIO)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $0.00 and traded as high as $12.98. Crescent Biopharma shares last traded at $12.65, with a volume of 56,366 shares trading hands.

Analysts Set New Price Targets

CBIO has been the subject of a number of analyst reports. Wall Street Zen downgraded shares of Crescent Biopharma from a “hold” rating to a “sell” rating in a research report on Saturday, August 2nd. Stifel Nicolaus initiated coverage on shares of Crescent Biopharma in a research report on Wednesday, June 25th. They issued a “buy” rating and a $28.00 price objective for the company. Wedbush initiated coverage on shares of Crescent Biopharma in a research report on Monday, July 14th. They issued an “outperform” rating and a $27.00 price objective for the company. Jefferies Financial Group initiated coverage on shares of Crescent Biopharma in a research report on Monday, August 25th. They issued a “buy” rating and a $26.00 price objective for the company. Finally, HC Wainwright reissued a “buy” rating and issued a $25.00 price objective on shares of Crescent Biopharma in a research report on Wednesday, August 27th. Two analysts have rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $25.60.

Crescent Biopharma Stock Performance

The company has a market capitalization of $247.31 million, a price-to-earnings ratio of -0.36 and a beta of 1.51. The firm has a fifty day moving average price of $12.88.

Institutional Trading of Crescent Biopharma

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Jefferies Financial Group Inc. bought a new stake in Crescent Biopharma in the 2nd quarter valued at about $437,000. Affinity Asset Advisors LLC bought a new stake in Crescent Biopharma in the 2nd quarter valued at about $4,520,000. Commodore Capital LP bought a new stake in Crescent Biopharma in the 2nd quarter valued at about $7,322,000. Adage Capital Partners GP L.L.C. bought a new stake in Crescent Biopharma in the 2nd quarter valued at about $1,629,000. Finally, Bank of America Corp DE bought a new stake in Crescent Biopharma in the 2nd quarter valued at about $149,000. Institutional investors own 75.19% of the company’s stock.

About Crescent Biopharma

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.