BVF Inc. IL Has $32.60 Million Stock Holdings in Crescent Biopharma, Inc. $CBIO

BVF Inc. IL boosted its position in Crescent Biopharma, Inc. (NASDAQ:CBIO) by 98.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,748,763 shares of the biopharmaceutical company’s stock after acquiring an additional 1,360,900 shares during the quarter. Crescent Biopharma accounts for 1.1% of BVF Inc. IL’s holdings, making the stock its 27th largest holding. BVF Inc. IL owned 19.79% of Crescent Biopharma worth $32,600,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Jefferies Financial Group Inc. increased its stake in Crescent Biopharma by 279.1% in the third quarter. Jefferies Financial Group Inc. now owns 102,714 shares of the biopharmaceutical company’s stock valued at $1,221,000 after acquiring an additional 75,618 shares during the last quarter. NEXTBio Capital Management LP bought a new position in Crescent Biopharma in the fourth quarter valued at approximately $4,422,000. Fcpm Iii Services B.V. bought a new position in Crescent Biopharma in the fourth quarter valued at approximately $19,899,000. Geode Capital Management LLC increased its stake in Crescent Biopharma by 31.7% in the fourth quarter. Geode Capital Management LLC now owns 91,079 shares of the biopharmaceutical company’s stock valued at $1,081,000 after acquiring an additional 21,945 shares during the last quarter. Finally, Burkehill Global Management LP bought a new position in Crescent Biopharma in the fourth quarter valued at approximately $844,000. 75.19% of the stock is owned by institutional investors.

Crescent Biopharma Trading Up 1.4%

CBIO opened at $18.21 on Thursday. The company has a market cap of $501.87 million, a P/E ratio of -1.67 and a beta of 1.16. Crescent Biopharma, Inc. has a 1-year low of $8.72 and a 1-year high of $27.41. The company’s 50 day moving average is $19.91 and its 200-day moving average is $14.93.

Crescent Biopharma (NASDAQ:CBIO) last posted its earnings results on Wednesday, April 29th. The biopharmaceutical company reported ($0.70) EPS for the quarter, beating the consensus estimate of ($0.85) by $0.15. The firm had revenue of $1.04 million during the quarter, compared to the consensus estimate of $0.36 million. On average, equities analysts forecast that Crescent Biopharma, Inc. will post -3.25 EPS for the current year.

Wall Street Analysts Forecast Growth

CBIO has been the topic of a number of recent 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. Wall Street Zen upgraded shares of Crescent Biopharma from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Stifel Nicolaus set a $29.00 price target on shares of Crescent Biopharma in a research note on Thursday, February 26th. Finally, HC Wainwright reduced their price target on shares of Crescent Biopharma from $25.00 to $22.00 and set a “buy” rating on the stock in a research note on Monday, March 2nd. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $29.00.

Crescent Biopharma Company Profile

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.