Crescent Biopharma, Inc. (NASDAQ:CBIO) Receives Average Recommendation of “Buy” from Analysts

Crescent Biopharma, Inc. (NASDAQ:CBIO) has earned an average rating of “Buy” from the six brokerages that are presently covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $25.60.

CBIO has been the subject of several recent analyst reports. Stifel Nicolaus initiated coverage on shares of Crescent Biopharma in a research report on Wednesday, June 25th. They set a “buy” rating and a $28.00 price objective for the company. 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 target price for the company. Wedbush initiated coverage on shares of Crescent Biopharma in a report on Monday, July 14th. They issued an “outperform” rating and a $27.00 target price for the company. Lifesci Capital raised shares of Crescent Biopharma to a “strong-buy” rating and set a $22.00 target price for the company in a report on Wednesday, June 18th. Finally, HC Wainwright reissued a “buy” rating and issued a $25.00 target price on shares of Crescent Biopharma in a report on Wednesday, August 27th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CBIO. Jefferies Financial Group Inc. bought a new position in shares of Crescent Biopharma in the second quarter worth about $437,000. Affinity Asset Advisors LLC acquired a new position in shares of Crescent Biopharma in the second quarter valued at approximately $4,520,000. Commodore Capital LP acquired a new position in shares of Crescent Biopharma in the second quarter valued at approximately $7,322,000. Adage Capital Partners GP L.L.C. acquired a new position in shares of Crescent Biopharma in the second quarter valued at approximately $1,629,000. Finally, Bank of America Corp DE acquired a new position in shares of Crescent Biopharma in the second quarter valued at approximately $149,000. Institutional investors own 75.19% of the company’s stock.

Crescent Biopharma Price Performance

CBIO opened at $12.29 on Tuesday. Crescent Biopharma has a twelve month low of $10.83 and a twelve month high of $63.00. The business’s 50-day moving average price is $13.10. The company has a market capitalization of $240.27 million, a PE ratio of -0.35 and a beta of 1.59.

Crescent Biopharma Company Profile

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.