Crescent Biopharma (NASDAQ:CBIO) Shares Gap Down – What’s Next?

by · The Cerbat Gem

Crescent Biopharma, Inc. (NASDAQ:CBIO – Get Free Report)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $20.65, but opened at $19.17. Crescent Biopharma shares last traded at $19.44, with a volume of 50,450 shares traded.

Analyst Upgrades and Downgrades

CBIO has been the topic of a number of analyst reports. Weiss Ratings raised shares of Crescent Biopharma from a “sell (e)” rating to a “sell (d-)” rating in a research note on Wednesday, May 13th. Stifel Nicolaus set a $29.00 price target on shares of Crescent Biopharma in a research note on Thursday, February 26th. HC Wainwright decreased their price objective on Crescent Biopharma from $25.00 to $22.00 and set a “buy” rating on the stock in a report on Monday, March 2nd. Finally, Wall Street Zen upgraded Crescent Biopharma from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Three analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Crescent Biopharma has an average rating of “Buy” and a consensus price target of $28.00.

Read Our Latest Research Report on CBIO

Crescent Biopharma Price Performance

The company has a market capitalization of $540.04 million, a price-to-earnings ratio of -1.80 and a beta of 1.17. The stock has a 50 day moving average price of $19.13 and a two-hundred day moving average price of $14.52.

Crescent Biopharma (NASDAQ:CBIO – Get Free Report) last announced its earnings results on Wednesday, April 29th. The biopharmaceutical company reported ($0.70) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.85) by $0.15. The company had revenue of $1.04 million for the quarter, compared to analyst estimates of $0.36 million. Sell-side analysts forecast that Crescent Biopharma, Inc. will post -3.22 EPS for the current fiscal year.

Institutional Investors Weigh In On Crescent Biopharma

A number of institutional investors and hedge funds have recently made changes to their positions in CBIO. Fcpm Iii Services B.V. bought a new position in Crescent Biopharma in the fourth quarter valued at about $19,899,000. Vestal Point Capital LP acquired a new position in Crescent Biopharma during the 4th quarter valued at about $17,790,000. BVF Inc. IL boosted its stake in shares of Crescent Biopharma by 98.1% in the 4th quarter. BVF Inc. IL now owns 2,748,763 shares of the biopharmaceutical company’s stock valued at $32,600,000 after purchasing an additional 1,360,900 shares during the last quarter. Opaleye Management Inc. acquired a new stake in shares of Crescent Biopharma during the 4th quarter worth approximately $13,975,000. Finally, Vanguard Group Inc. acquired a new stake in shares of Crescent Biopharma during the 3rd quarter worth approximately $7,822,000. Institutional investors own 75.19% of the company’s stock.

Crescent Biopharma Company Profile

(Get Free Report)

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.

Further Reading