Crescent Biopharma, Inc. (CBIO) – What Are Researchers Saying About This Stock?

by · The Cerbat Gem

Shares of Crescent Biopharma, Inc. (NASDAQ:CBIO – Get Free Report) have been given an average recommendation of “Buy” by the seven ratings firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, four have issued a buy rating and two have issued a strong buy rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $33.00.

Several equities analysts have commented on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Crescent Biopharma in a research report on Friday, August 7th. TD Cowen upgraded Crescent Biopharma to a “strong-buy” rating in a research report on Monday, August 24th. Wedbush reissued an “outperform” rating and set a $27.00 price objective on shares of Crescent Biopharma in a research note on Monday, September 14th. HC Wainwright reiterated a “buy” rating and issued a $36.00 target price on shares of Crescent Biopharma in a report on Monday, October 19th. Finally, UBS Group reissued a “buy” rating and set a $36.00 target price on shares of Crescent Biopharma in a research report on Monday, October 19th.

Read Our Latest Research Report on Crescent Biopharma

Insiders Place Their Bets

In other Crescent Biopharma news, CEO Joshua T. Brumm sold 7,837 shares of the business’s stock in a transaction on Friday, September 18th. The shares were sold at an average price of $16.71, for a total transaction of $130,956.27. Following the transaction, the chief executive officer owned 271,765 shares in the company, valued at $4,541,193.15. The trade was a 2.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Jonathan McNeill sold 3,839 shares of the business’s stock in a transaction on Friday, September 18th. The shares were sold at an average price of $16.71, for a total transaction of $64,149.69. Following the transaction, the chief operating officer owned 134,588 shares in the company, valued at $2,248,965.48. This trade represents a 2.77% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 16,726 shares of company stock valued at $285,501. 24.84% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Crescent Biopharma

A number of large investors have recently made changes to their positions in the company. Legal & General Group Plc purchased a new position in shares of Crescent Biopharma during the 2nd quarter worth about $38,000. OMERS ADMINISTRATION Corp grew its stake in shares of Crescent Biopharma by 53.4% during the first quarter. OMERS ADMINISTRATION Corp now owns 17,800 shares of the biopharmaceutical company’s stock valued at $327,000 after buying an additional 6,200 shares during the last quarter. Opaleye Management Inc. raised its holdings in shares of Crescent Biopharma by 0.5% in the second quarter. Opaleye Management Inc. now owns 1,319,351 shares of the biopharmaceutical company’s stock worth $23,748,000 after buying an additional 6,736 shares during the period. Persistent Asset Partners Ltd purchased a new stake in shares of Crescent Biopharma in the second quarter worth approximately $197,000. Finally, Wellington Management Group LLP purchased a new stake in shares of Crescent Biopharma in the second quarter worth approximately $263,000. 75.19% of the stock is owned by hedge funds and other institutional investors.

Crescent Biopharma Stock Performance

Shares of CBIO opened at $13.06 on Wednesday. The stock has a market capitalization of $485.05 million, a PE ratio of -1.94 and a beta of 1.40. The company’s fifty day moving average is $15.46 and its 200 day moving average is $15.84. Crescent Biopharma has a fifty-two week low of $8.72 and a fifty-two week high of $27.41.

Crescent Biopharma Company Profile

(Get Free Report)

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.

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