Braidwell LP Invests $4.22 Million in Crescent Biopharma, Inc. $CBIO

Braidwell LP purchased a new stake in Crescent Biopharma, Inc. (NASDAQ:CBIO) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 261,504 shares of the biopharmaceutical company’s stock, valued at approximately $4,221,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CBIO. BVF Inc. IL purchased a new stake in shares of Crescent Biopharma during the second quarter worth approximately $22,400,000. Bank of America Corp DE acquired a new position in Crescent Biopharma in the 2nd quarter valued at $149,000. Adage Capital Partners GP L.L.C. acquired a new position in Crescent Biopharma in the 2nd quarter valued at $1,629,000. Commodore Capital LP purchased a new position in Crescent Biopharma during the 2nd quarter worth $7,322,000. Finally, Affinity Asset Advisors LLC acquired a new stake in shares of Crescent Biopharma in the 2nd quarter worth $4,520,000. 75.19% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Crescent Biopharma

In related news, Director Fairmount Funds Management Llc bought 1,360,000 shares of Crescent Biopharma stock in a transaction that occurred on Thursday, December 4th. The shares were purchased at an average price of $13.41 per share, with a total value of $18,237,600.00. Following the purchase, the director owned 2,747,866 shares in the company, valued at $36,848,883.06. This represents a 97.99% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 4.00% of the company’s stock.

Wall Street Analyst Weigh In

CBIO has been the subject of a number of analyst reports. Weiss Ratings reissued a “sell (e-)” rating on shares of Crescent Biopharma in a research note on Monday. Stifel Nicolaus set a $32.00 price objective on Crescent Biopharma in a report on Thursday, December 4th. HC Wainwright reiterated a “buy” rating and issued a $25.00 price objective on shares of Crescent Biopharma in a research report on Wednesday, August 27th. Jefferies Financial Group assumed coverage on shares of Crescent Biopharma in a research report on Monday, August 25th. They set a “buy” rating and a $26.00 target price on the stock. Finally, Wall Street Zen downgraded shares of Crescent Biopharma from a “hold” rating to a “sell” rating in a report on Saturday, December 6th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $26.40.

Crescent Biopharma Stock Performance

Shares of NASDAQ CBIO opened at $14.09 on Friday. The company has a 50-day simple moving average of $12.95. Crescent Biopharma, Inc. has a 52 week low of $9.81 and a 52 week high of $37.00. The firm has a market cap of $195.75 million, a PE ratio of -0.66 and a beta of 1.32.

Crescent Biopharma (NASDAQ:CBIO) last announced its quarterly earnings results on Thursday, November 6th. The biopharmaceutical company reported ($1.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.01) by ($0.26). On average, analysts predict that Crescent Biopharma, Inc. will post -0.16 earnings per share for the current year.

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.