Crescent Biopharma (NASDAQ:CBIO) Raised to Hold at Wall Street Zen

Crescent Biopharma (NASDAQ:CBIO) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday.

CBIO has been the topic of several other research reports. Wedbush began coverage on shares of Crescent Biopharma in a report on Monday, July 14th. They issued an “outperform” rating and a $27.00 target price on the stock. Jefferies Financial Group initiated coverage on shares of Crescent Biopharma in a report on Monday, August 25th. They issued a “buy” rating and a $26.00 price objective on the stock. Finally, HC Wainwright reiterated a “buy” rating and set a $25.00 target price on shares of Crescent Biopharma in a research note on Wednesday, August 27th. Two equities research analysts have rated the stock with a Strong Buy rating and four have given a Buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $25.60.

Crescent Biopharma Stock Performance

NASDAQ:CBIO opened at $13.13 on Friday. Crescent Biopharma has a 12-month low of $9.81 and a 12-month high of $44.77. 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 has a fifty day moving average of $12.49.

Crescent Biopharma (NASDAQ:CBIO) last issued its quarterly earnings results on Thursday, November 6th. The biopharmaceutical company reported ($1.27) earnings per share for the quarter, missing the consensus estimate of ($1.01) by ($0.26). The business had revenue of ($0.75) million during the quarter. Equities analysts anticipate that Crescent Biopharma will post -0.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Crescent Biopharma

Institutional investors have recently modified their holdings of the company. BVF Inc. IL acquired a new stake in Crescent Biopharma in the 2nd quarter valued at about $22,400,000. Vanguard Group Inc. purchased a new stake in shares of Crescent Biopharma in the third quarter valued at about $7,822,000. Perceptive Advisors LLC acquired a new stake in shares of Crescent Biopharma in the second quarter valued at approximately $7,322,000. Commodore Capital LP purchased a new position in shares of Crescent Biopharma during the 2nd quarter worth approximately $7,322,000. Finally, Frazier Life Sciences Management L.P. acquired a new position in shares of Crescent Biopharma during the 2nd quarter worth approximately $7,322,000. Hedge funds and other 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.