Crescent Biopharma (NASDAQ:CBIO) Price Target Cut to $32.00 by Analysts at Piper Sandler

Crescent Biopharma (NASDAQ:CBIO) had its price target decreased by Piper Sandler from $35.00 to $32.00 in a research report sent to investors on Friday,Benzinga reports. Piper Sandler currently has an overweight rating on the biopharmaceutical company’s stock.

A number of other research firms have also recently commented on CBIO. UBS Group reiterated a “buy” rating and set a $36.00 price objective on shares of Crescent Biopharma in a research report on Monday, October 19th. TD Cowen raised Crescent Biopharma to a “strong-buy” rating in a research report on Monday, August 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of Crescent Biopharma in a research report on Wednesday, November 4th. Wedbush restated an “outperform” rating and set a $27.00 price target on shares of Crescent Biopharma in a research note on Monday, September 14th. Finally, HC Wainwright upped their price target on shares of Crescent Biopharma from $36.00 to $40.00 and gave the company a “buy” rating in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Crescent Biopharma has a consensus rating of “Moderate Buy” and an average price target of $33.17.

Crescent Biopharma Trading Down 1.5%

Shares of CBIO opened at $14.15 on Friday. The firm has a fifty day simple moving average of $14.80 and a two-hundred day simple moving average of $15.88. Crescent Biopharma has a 1-year low of $8.72 and a 1-year high of $27.41.

Crescent Biopharma (NASDAQ:CBIO) last released its quarterly earnings results on Thursday, November 12th. The biopharmaceutical company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of ($0.70) by ($0.20). The firm had revenue of $3.12 million during the quarter, compared to analysts’ expectations of $0.62 million. As a group, analysts forecast that Crescent Biopharma will post -2.93 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO Jonathan McNeill sold 3,839 shares of the company’s stock in a transaction on Friday, September 18th. The stock was sold at an average price of $16.71, for a total value of $64,149.69. Following the completion of the sale, the chief operating officer directly owned 134,588 shares in the company, valued at $2,248,965.48. This represents a 2.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Joshua Brumm sold 7,837 shares of the company’s stock in a transaction on Friday, September 18th. The stock was sold at an average price of $16.71, for a total value of $130,956.27. Following the completion of the sale, the chief executive officer owned 271,765 shares of the company’s stock, valued at $4,541,193.15. This trade represents a 2.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 16,726 shares of company stock valued at $285,501. Insiders own 24.84% of the company’s stock.

Institutional Trading of Crescent Biopharma

A number of hedge funds and other institutional investors have recently bought and sold shares of CBIO. State Street Corp raised its stake in shares of Crescent Biopharma by 33.6% in the third quarter. State Street Corp now owns 843,070 shares of the biopharmaceutical company’s stock worth $12,300,000 after buying an additional 211,896 shares during the period. ACT Capital Partners L.P. purchased a new position in shares of Crescent Biopharma during the 3rd quarter valued at about $168,000. Simplex Trading LLC bought a new position in shares of Crescent Biopharma during the 3rd quarter valued at approximately $50,000. Opaleye Management Inc. grew its stake in shares of Crescent Biopharma by 0.5% during the 2nd quarter. Opaleye Management Inc. now owns 1,319,351 shares of the biopharmaceutical company’s stock valued at $23,748,000 after acquiring an additional 6,736 shares during the period. Finally, Squarepoint Ops LLC bought a new position in shares of Crescent Biopharma during the 2nd quarter valued at approximately $435,000. Hedge funds and other institutional investors own 75.19% of the company’s stock.

Key Stories Impacting Crescent Biopharma

Investors following CBIO have been watching these stories:

• Positive Sentiment: HC Wainwright raised its price target from $36 to $40 and maintained a “buy” rating, signaling stronger analyst optimism. HC Wainwright recommendations
• Positive Sentiment: Crescent completed dose escalation in its Phase 1/2 ASCEND trial of CR-001, with more than 125 patients treated, and expects initial monotherapy data—including results in first-line non-small cell lung cancer—in Q1 2027. It also began dosing the first patient in the global APOLLO trial of CR-002. Multiple trial readouts are anticipated in 2027. Third-quarter results and business highlights
• Negative Sentiment: Third-quarter EPS was a loss of $0.90, worse than analysts’ expected loss of $0.70. Revenue of $3.12 million exceeded estimates, but net loss widened to $37.7 million from $24.6 million a year earlier as research and development spending increased. Third-quarter results and business highlights

About Crescent Biopharma

Crescent Biopharma is a clinical-stage biotechnology company focused on developing medicines for cancer. Its research centers on antibody-based treatments, including therapies designed to target tumor cells and support the body’s immune response. The company’s work is directed toward advancing oncology drug candidates through clinical development. Its pipeline and programs may change as research progresses, and its products are investigational rather than established treatments. Crescent Biopharma is focused on developing its therapies for cancer patients; detailed information about its geographic operations and leadership is not included here.