Jefferies Financial Group Inc. Has $1.22 Million Stock Position in Crescent Biopharma, Inc. $CBIO

Jefferies Financial Group Inc. boosted its stake in shares of Crescent Biopharma, Inc. (NASDAQ:CBIO) by 279.1% during the third quarter, Holdings Channel reports. The fund owned 102,714 shares of the biopharmaceutical company’s stock after acquiring an additional 75,618 shares during the period. Jefferies Financial Group Inc.’s holdings in Crescent Biopharma were worth $1,221,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CBIO. Bank of America Corp DE bought a new position in shares of Crescent Biopharma in the second quarter worth about $149,000. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Crescent Biopharma in the second quarter valued at approximately $1,629,000. Braidwell LP bought a new position in Crescent Biopharma in the 2nd quarter worth approximately $4,221,000. Affinity Asset Advisors LLC acquired a new position in Crescent Biopharma during the 2nd quarter worth $4,520,000. Finally, Soleus Capital Management L.P. acquired a new position in Crescent Biopharma during the 2nd quarter worth $6,456,000. Institutional investors and hedge funds own 75.19% of the company’s stock.

Crescent Biopharma Stock Performance

CBIO opened at $11.88 on Thursday. The company has a fifty day moving average price of $11.21 and a two-hundred day moving average price of $12.30. The firm has a market capitalization of $165.05 million, a PE ratio of -0.84 and a beta of 1.31. Crescent Biopharma, Inc. has a 52 week low of $8.72 and a 52 week high of $28.77.

Crescent Biopharma (NASDAQ:CBIO) last posted its quarterly earnings results on Thursday, February 26th. The biopharmaceutical company reported ($4.01) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.22) by ($1.79). The firm had revenue of $10.84 million during the quarter. Equities analysts forecast that Crescent Biopharma, Inc. will post -0.16 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CBIO. Guggenheim initiated coverage on Crescent Biopharma in a research note on Wednesday, January 21st. They issued a “buy” rating and a $35.00 target price for the company. Wall Street Zen raised 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 Crescent Biopharma in a report on Thursday, February 26th. Weiss Ratings reiterated a “sell (e-)” rating on shares of Crescent Biopharma in a research report on Monday, December 29th. Finally, Piper Sandler assumed coverage on Crescent Biopharma in a report on Wednesday, January 28th. They set an “overweight” rating and a $35.00 price objective for the company. Three research 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. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $28.00.

About Crescent Biopharma

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.