Crescent Biopharma (NASDAQ:CBIO) Upgraded at Wall Street Zen

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

Other equities analysts have also recently issued research reports about the company. Weiss Ratings reissued a “sell (e-)” rating on shares of Crescent Biopharma in a report on Monday, December 29th. Piper Sandler initiated coverage on Crescent Biopharma in a research note on Wednesday, January 28th. They issued an “overweight” rating and a $35.00 price target on the stock. HC Wainwright dropped their price target on Crescent Biopharma from $25.00 to $22.00 and set a “buy” rating for the company in a research report on Monday, March 2nd. Guggenheim initiated coverage on Crescent Biopharma in a research note on Wednesday, January 21st. They issued a “buy” rating and a $35.00 price objective for the company. Finally, Stifel Nicolaus set a $29.00 price objective on Crescent Biopharma in a report on Thursday, February 26th. Three analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $28.00.

Crescent Biopharma Stock Down 0.4%

CBIO stock opened at $12.02 on Friday. The stock has a market capitalization of $166.96 million, a P/E ratio of -0.85 and a beta of 1.31. The firm has a 50-day simple moving average of $11.19 and a 200-day simple moving average of $12.32. Crescent Biopharma has a 52 week low of $8.72 and a 52 week high of $28.77.

Crescent Biopharma (NASDAQ:CBIO) last released its quarterly earnings results on Thursday, February 26th. The biopharmaceutical company reported ($4.01) earnings per share for the quarter, missing the consensus estimate of ($2.22) by ($1.79). The company had revenue of $10.84 million for the quarter. On average, analysts expect that Crescent Biopharma will post -0.16 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. State Street Corp increased its stake in Crescent Biopharma by 40.8% during the fourth quarter. State Street Corp now owns 26,217 shares of the biopharmaceutical company’s stock worth $311,000 after acquiring an additional 7,600 shares during the last quarter. Bank of America Corp DE purchased a new stake in Crescent Biopharma in the second quarter valued at $149,000. OMERS ADMINISTRATION Corp acquired a new position in shares of Crescent Biopharma in the 4th quarter valued at $138,000. HRT Financial LP purchased a new position in shares of Crescent Biopharma during the 4th quarter worth $155,000. Finally, Quadrature Capital Ltd purchased a new position in shares of Crescent Biopharma during the 4th quarter worth $157,000. 75.19% of the stock is currently owned by institutional investors and hedge funds.

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-?), with the goal of restoring T-cell activity and reducing tumor fibrosis.