Crescent Biopharma, Inc. (NASDAQ:CBIO) Given Consensus Recommendation of "Buy" by Brokerages

Key Points

• Crescent Biopharma, Inc. has been given a consensus recommendation of "Buy" by six ratings firms, with an average 12-month price target of $25.60.
• Institutional investors recently increased their stake in the company, with major purchases totaling over $6 million in the second quarter.
• The current stock price of Crescent Biopharma is $12.29, with a market capitalization of $240.27 million and a one-year price range between $10.83 and $63.00.

Shares of Crescent Biopharma, Inc. (NASDAQ:CBIO - Get Free Report) have been given an average recommendation of "Buy" by the six ratings firms that are covering the company, MarketBeat.com reports. Four analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $25.60.

CBIO has been the topic of a number of recent analyst reports. Wall Street Zen downgraded shares of Crescent Biopharma from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Lifesci Capital upgraded shares of Crescent Biopharma to a "strong-buy" rating and set a $22.00 price objective on the stock in a report on Wednesday, June 18th. Jefferies Financial Group started coverage on shares of Crescent Biopharma in a report on Monday, August 25th. They issued a "buy" rating and a $26.00 price objective on the stock. Wedbush began coverage on shares of Crescent Biopharma in a report on Monday, July 14th. They issued an "outperform" rating and a $27.00 price objective on the stock. Finally, Stifel Nicolaus began coverage on shares of Crescent Biopharma in a research report on Wednesday, June 25th. They issued a "buy" rating and a $28.00 target price for the company.

Institutional Investors Weigh In On Crescent Biopharma

Institutional investors have recently modified their holdings of the business. Bank of America Corp DE bought a new stake in shares of Crescent Biopharma in the second quarter valued at about $149,000. Jefferies Financial Group Inc. bought a new stake in shares of Crescent Biopharma in the second quarter valued at about $437,000. Adage Capital Partners GP L.L.C. bought a new stake in shares of Crescent Biopharma in the second quarter valued at about $1,629,000. Braidwell LP bought a new stake in shares of Crescent Biopharma in the second quarter valued at about $4,221,000. Finally, Affinity Asset Advisors LLC bought a new stake in shares of Crescent Biopharma in the second quarter valued at about $4,520,000. Institutional investors own 75.19% of the company's stock.

Crescent Biopharma Stock Performance

Shares of CBIO opened at $12.29 on Tuesday. The firm has a market capitalization of $240.27 million, a P/E ratio of -0.35 and a beta of 1.59. Crescent Biopharma has a 1-year low of $10.83 and a 1-year high of $63.00. The stock's fifty day moving average price is $13.10.

About Crescent Biopharma

Crescent Biopharma, Inc operates as a biopharmaceutical company that develops and designs small molecule therapeutics to treat cancers. The company was founded on September 19, 2024 and is headquartered in Waltham, MA.

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