Crescent Biopharma (NASDAQ:CBIO) Downgraded by Wall Street Zen to “Sell”

by · The Markets Daily

Wall Street Zen downgraded shares of Crescent Biopharma (NASDAQ:CBIO – Free Report) from a hold rating to a sell rating in a research report released on Saturday.

Other equities research analysts have also issued research reports about the stock. Weiss Ratings reaffirmed a “sell (e-)” rating on shares of Crescent Biopharma in a report on Monday, December 1st. Jefferies Financial Group started coverage on shares of Crescent Biopharma in a research report on Monday, August 25th. They set a “buy” rating and a $26.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and set a $25.00 price objective on shares of Crescent Biopharma in a research note on Wednesday, August 27th. Finally, Stifel Nicolaus set a $32.00 target price on shares of Crescent Biopharma in a research note on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $26.40.

View Our Latest Stock Analysis on CBIO

Crescent Biopharma Stock Up 0.6%

Shares of Crescent Biopharma stock opened at $13.07 on Friday. The firm has a market capitalization of $181.58 million, a PE ratio of -0.62 and a beta of 1.32. The firm’s 50 day moving average price is $12.72. Crescent Biopharma has a 12 month low of $9.81 and a 12 month high of $37.00.

Crescent Biopharma (NASDAQ:CBIO – Get Free Report) last issued its quarterly earnings results on Thursday, November 6th. The biopharmaceutical company reported ($1.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.26). As a group, equities analysts forecast that Crescent Biopharma will post -0.16 EPS for the current fiscal year.

Hedge Funds Weigh In On Crescent Biopharma

Institutional investors and hedge funds have recently bought and sold shares of the company. Bank of America Corp DE acquired a new stake in shares of Crescent Biopharma during the 2nd quarter worth approximately $149,000. Citadel Advisors LLC purchased a new position in Crescent Biopharma in the third quarter worth approximately $304,000. Two Sigma Investments LP acquired a new stake in Crescent Biopharma during the third quarter worth $337,000. Jefferies Financial Group Inc. purchased a new stake in Crescent Biopharma in the second quarter valued at $437,000. Finally, Adage Capital Partners GP L.L.C. acquired a new position in shares of Crescent Biopharma in the 2nd quarter valued at $1,629,000. 75.19% of the stock is currently owned by institutional investors and hedge funds.

About Crescent Biopharma

(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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