Crescent Biopharma (NASDAQ:CBIO) Announces Earnings Results

Crescent Biopharma (NASDAQ:CBIO) posted its quarterly earnings results on Thursday. The biopharmaceutical company reported ($1.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.26), Zacks reports. The business had revenue of ($0.75) million for the quarter.

Crescent Biopharma Trading Up 0.2%

Shares of CBIO stock traded up $0.03 on Friday, hitting $13.13. The company had a trading volume of 144,463 shares, compared to its average volume of 62,633. The stock has a market capitalization of $256.69 million, a price-to-earnings ratio of -0.38 and a beta of 1.50. The company’s 50-day simple moving average is $12.49. Crescent Biopharma has a twelve month low of $9.81 and a twelve month high of $44.77.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. HC Wainwright reissued a “buy” rating and issued a $25.00 target price on shares of Crescent Biopharma in a research report on Wednesday, August 27th. Wedbush began coverage on Crescent Biopharma in a research note on Monday, July 14th. They set an “outperform” rating and a $27.00 price target on the stock. Jefferies Financial Group initiated coverage on Crescent Biopharma in a research note on Monday, August 25th. They issued a “buy” rating and a $26.00 price objective for the company. Finally, Wall Street Zen raised Crescent Biopharma from a “sell” rating to a “hold” rating in a report on Saturday. Two investment analysts have rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company’s stock. Based on data from MarketBeat.com, Crescent Biopharma currently has an average rating of “Buy” and an average price target of $25.60.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. acquired a new stake in shares of Crescent Biopharma during the 3rd quarter worth approximately $7,822,000. Perceptive Advisors LLC purchased a new stake in Crescent Biopharma during the second quarter worth $7,322,000. Commodore Capital LP purchased a new stake in Crescent Biopharma during the second quarter worth $7,322,000. Soleus Capital Management L.P. acquired a new stake in shares of Crescent Biopharma during the 2nd quarter valued at about $6,456,000. Finally, Adage Capital Partners GP L.L.C. purchased a new position in shares of Crescent Biopharma in the 2nd quarter valued at about $1,629,000. 75.19% of the stock is owned by institutional investors and hedge funds.

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.