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

Crescent Biopharma, Inc. (NASDAQ:CBIO) has been given a consensus rating of “Buy” by the nine research firms 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 assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $28.00.

Several analysts have issued reports on the stock. Wall Street Zen raised shares of Crescent Biopharma from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. HC Wainwright lowered their price objective 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. Weiss Ratings raised shares of Crescent Biopharma from a “sell (e)” rating to a “sell (d-)” rating in a research report on Wednesday, May 13th. Finally, Stifel Nicolaus set a $29.00 price objective on shares of Crescent Biopharma in a research report on Thursday, February 26th.

Institutional Trading of Crescent Biopharma

Several large investors have recently bought and sold shares of the company. OMERS ADMINISTRATION Corp grew its position in Crescent Biopharma by 53.4% in the first quarter. OMERS ADMINISTRATION Corp now owns 17,800 shares of the biopharmaceutical company’s stock valued at $327,000 after acquiring an additional 6,200 shares in the last quarter. State Street Corp grew its position in shares of Crescent Biopharma by 40.8% during the fourth quarter. State Street Corp now owns 26,217 shares of the biopharmaceutical company’s stock worth $311,000 after buying an additional 7,600 shares in the last quarter. Bank of America Corp DE acquired a new stake in shares of Crescent Biopharma during the second quarter worth approximately $149,000. Cannon Global Investment Management LLC acquired a new stake in shares of Crescent Biopharma during the first quarter worth approximately $187,000. Finally, HRT Financial LP acquired a new stake in shares of Crescent Biopharma during the fourth quarter worth approximately $155,000. Institutional investors and hedge funds own 75.19% of the company’s stock.

Crescent Biopharma Stock Performance

CBIO opened at $18.00 on Friday. The firm has a 50 day moving average price of $19.86 and a 200 day moving average price of $14.69. The company has a market cap of $496.08 million, a PE 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.

Crescent Biopharma (NASDAQ:CBIO) last issued its quarterly earnings data on Wednesday, April 29th. The biopharmaceutical company reported ($0.70) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.85) by $0.15. The firm had revenue of $1.04 million during the quarter, compared to analyst estimates of $0.36 million. On average, sell-side analysts predict that Crescent Biopharma will post -3.22 earnings per share for the current year.

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.