Crescent Biopharma, Inc. (NASDAQ:CBIO) Receives Consensus Rating of "Buy" from Brokerages

Key Points

• Crescent Biopharma, Inc. has received an average rating of "Buy" from six brokerage firms, with four analysts rating it as a buy and two as a strong buy.
• The stock has an average target price of $25.60, as reported by analysts who have covered the stock in the last year.
• Crescent Biopharma's shares have seen a 1-year high of $63.00 and a 1-year low of $9.81, with current trading around $12.69.

Crescent Biopharma, Inc. (NASDAQ:CBIO - Get Free Report) has been given an average rating of "Buy" by the six ratings firms that are covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is $25.60.

Several research firms recently weighed in on CBIO. Wall Street Zen lowered shares of Crescent Biopharma from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Wedbush initiated coverage on Crescent Biopharma in a report on Monday, July 14th. They set an "outperform" rating and a $27.00 price objective for the company. HC Wainwright reissued a "buy" rating and set a $25.00 price objective on shares of Crescent Biopharma in a report on Wednesday, August 27th. Finally, Jefferies Financial Group started coverage on Crescent Biopharma in a report on Monday, August 25th. They set a "buy" rating and a $26.00 price objective for the company.

Hedge Funds Weigh In On Crescent Biopharma

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE bought a new position in Crescent Biopharma during the second quarter worth about $149,000. Jefferies Financial Group Inc. bought a new position in Crescent Biopharma in the 2nd quarter worth approximately $437,000. Adage Capital Partners GP L.L.C. bought a new position in Crescent Biopharma in the 2nd quarter worth approximately $1,629,000. Braidwell LP bought a new position in Crescent Biopharma in the 2nd quarter worth approximately $4,221,000. Finally, Affinity Asset Advisors LLC bought a new position in shares of Crescent Biopharma in the second quarter worth $4,520,000. Institutional investors own 75.19% of the company's stock.

Crescent Biopharma Price Performance

Shares of NASDAQ:CBIO opened at $12.69 on Friday. The company has a market cap of $248.09 million, a P/E ratio of -0.36 and a beta of 1.51. The company has a fifty day simple moving average of $12.81. Crescent Biopharma has a 1 year low of $9.81 and a 1 year high of $63.00.

Crescent Biopharma Company Profile

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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