Short Interest in Crescent Biopharma, Inc. (NASDAQ:CBIO) Grows By 103.8%

Crescent Biopharma, Inc. (NASDAQ:CBIO) was the recipient of a large growth in short interest during the month of September. As of September 15th, there was short interest totaling 261,900 shares, a growth of 103.8% from the August 31st total of 128,500 shares. Based on an average daily trading volume, of 122,000 shares, the short-interest ratio is currently 2.1 days. Approximately 2.4% of the company’s shares are sold short. Approximately 2.4% of the company’s shares are sold short. Based on an average daily trading volume, of 122,000 shares, the short-interest ratio is currently 2.1 days.

Hedge Funds Weigh In On Crescent Biopharma

Institutional investors have recently bought and sold shares of the company. BVF Inc. IL bought a new stake in shares of Crescent Biopharma in the second quarter valued at $22,400,000. Perceptive Advisors LLC purchased a new stake in shares of Crescent Biopharma during the second quarter worth $7,322,000. Commodore Capital LP purchased a new position in shares of Crescent Biopharma in the second quarter valued at $7,322,000. Frazier Life Sciences Management L.P. bought a new position in Crescent Biopharma in the 2nd quarter worth about $7,322,000. Finally, Soleus Capital Management L.P. bought a new stake in shares of Crescent Biopharma during the second quarter valued at about $6,456,000. Hedge funds and other institutional investors own 75.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $25.00 price objective on shares of Crescent Biopharma in a research note on Wednesday, August 27th. Jefferies Financial Group initiated coverage on Crescent Biopharma in a research note on Monday, August 25th. They set a “buy” rating and a $26.00 target price for the company. Wall Street Zen downgraded shares of Crescent Biopharma from a “hold” rating to a “sell” rating in a research report on Saturday, August 2nd. Lifesci Capital raised shares of Crescent Biopharma to a “strong-buy” rating and set a $22.00 price target for the company in a research note on Wednesday, June 18th. Finally, TD Cowen upgraded Crescent Biopharma to a “strong-buy” rating in a report on Friday, June 20th. Two 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.com, the company presently has a consensus rating of “Buy” and an average target price of $25.60.

Crescent Biopharma Stock Down 2.6%

Shares of NASDAQ:CBIO opened at $11.72 on Friday. Crescent Biopharma has a fifty-two week low of $10.83 and a fifty-two week high of $63.00. The business has a 50-day moving average of $13.00. The stock has a market cap of $229.13 million, a P/E ratio of -0.34 and a beta of 1.51.

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.