Crescent Biopharma (CBIO) Expected to Announce Quarterly Earnings on Wednesday

Key Points

• Crescent Biopharma is expected to report quarterly results after the close on May 13, with analysts forecasting EPS of ($0.85) and revenue of about $0.357M; the company beat estimates in the prior quarter (EPS ($0.70), revenue $1.04M).
• Institutional interest is high—about 75.19% of the stock is owned by hedge funds and institutions, with several firms (Commodore, Perceptive, Soleus, Adage) making multi‑million‑dollar purchases recently.
• The stock opened around $18.08 with a market cap near $498M, and analysts hold a consensus "Buy" rating with a target price of $28.

Crescent Biopharma (NASDAQ:CBIO - Get Free Report) is expected to issue its results after the market closes on Wednesday, May 13th. Analysts expect the company to announce earnings of ($0.85) per share and revenue of $0.3570 million for the quarter.

Crescent Biopharma (NASDAQ:CBIO - Get Free Report) last issued its earnings results on Wednesday, April 29th. The biopharmaceutical company reported ($0.70) earnings per share for the quarter, topping the consensus estimate of ($0.85) by $0.15. The firm had revenue of $1.04 million during the quarter, compared to the consensus estimate of $0.36 million. On average, analysts expect Crescent Biopharma to post $-3 EPS for the current fiscal year and $-3 EPS for the next fiscal year.

Crescent Biopharma Stock Performance

Shares of Crescent Biopharma stock opened at $18.08 on Wednesday. The company has a market capitalization of $498.28 million, a P/E ratio of -1.66 and a beta of 1.21. The company has a fifty day moving average of $16.27 and a 200 day moving average of $13.63. Crescent Biopharma has a fifty-two week low of $8.72 and a fifty-two week high of $27.97.

Institutional Trading of Crescent Biopharma

Several hedge funds have recently made changes to their positions in CBIO. Commodore Capital LP purchased a new stake in shares of Crescent Biopharma during the 2nd quarter valued at about $7,322,000. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Crescent Biopharma during the 2nd quarter valued at about $1,629,000. Bank of America Corp DE purchased a new stake in shares of Crescent Biopharma during the 2nd quarter valued at about $149,000. Perceptive Advisors LLC purchased a new stake in shares of Crescent Biopharma during the 2nd quarter valued at about $7,322,000. Finally, Soleus Capital Management L.P. purchased a new stake in shares of Crescent Biopharma during the 2nd quarter valued at about $6,456,000. 75.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CBIO has been the subject of several recent analyst reports. Stifel Nicolaus set a $29.00 target price on shares of Crescent Biopharma in a report on Thursday, February 26th. Piper Sandler assumed coverage on shares of Crescent Biopharma in a report on Wednesday, January 28th. They issued an "overweight" rating and a $35.00 target price for the company. Wall Street Zen raised shares of Crescent Biopharma from a "sell" rating to a "hold" rating in a report on Saturday, March 7th. Weiss Ratings downgraded shares of Crescent Biopharma from a "sell (e+)" rating to a "sell (e)" rating in a report on Wednesday, April 29th. Finally, Guggenheim assumed coverage on shares of Crescent Biopharma in a report on Wednesday, January 21st. They set a "buy" rating and a $35.00 price objective for the company. 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. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus 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-β), with the goal of restoring T-cell activity and reducing tumor fibrosis.

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