Fcpm Iii Services B.V. Makes New $19.90 Million Investment in Crescent Biopharma, Inc. $CBIO

Fcpm Iii Services B.V. bought a new position in shares of Crescent Biopharma, Inc. (NASDAQ:CBIO) in the fourth quarter, HoldingsChannel.com reports. The firm bought 1,677,852 shares of the biopharmaceutical company’s stock, valued at approximately $19,899,000. Crescent Biopharma comprises about 2.6% of Fcpm Iii Services B.V.’s portfolio, making the stock its 9th largest position. Fcpm Iii Services B.V. owned 0.12% of Crescent Biopharma as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bank of America Corp DE acquired a new position in Crescent Biopharma during the 2nd quarter worth $149,000. OMERS ADMINISTRATION Corp acquired a new position in Crescent Biopharma during the 4th quarter worth $138,000. HRT Financial LP acquired a new position in Crescent Biopharma during the 4th quarter worth $155,000. Jane Street Group LLC acquired a new position in Crescent Biopharma during the 4th quarter worth $272,000. Finally, Citadel Advisors LLC acquired a new position in Crescent Biopharma during the 3rd quarter worth $304,000. Institutional investors and hedge funds own 75.19% of the company’s stock.

Crescent Biopharma Stock Down 1.3%

Shares of CBIO opened at $17.95 on Wednesday. Crescent Biopharma, Inc. has a 12-month low of $8.72 and a 12-month high of $27.41. The firm has a market capitalization of $494.70 million, a price-to-earnings ratio of -1.65 and a beta of 1.16. The stock’s 50-day moving average price is $19.93 and its 200 day moving average price is $14.91.

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

Analyst Ratings Changes

CBIO has been the subject of a number of research analyst reports. Wall Street Zen raised shares of Crescent Biopharma from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Weiss Ratings raised shares of Crescent Biopharma from a “sell (e)” rating to a “sell (d-)” rating in a research report on Wednesday, May 13th. HC Wainwright reduced their target price on shares of Crescent Biopharma from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Monday, March 2nd. Finally, Stifel Nicolaus set a $29.00 target price on Crescent Biopharma in a research report on Thursday, February 26th. Three research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target 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.