Crescent Biopharma (NASDAQ:CBIO) Shares Cross Above 200-Day Moving Average - Should You Sell?

Key Points

• Crescent Biopharma crossed above its 200-day moving average (200‑day MA $13.34) as shares traded up to $26.53 and last at $25.15 on volume of 145,666, signalling a technical breakout.
• Wall Street consensus is a "Buy" with a $28 consensus price target, though individual calls are mixed (Piper Sandler $35 overweight, HC Wainwright cut to $22, Weiss reiterates a sell).
• The company remains unprofitable and reported a sizeable earnings miss (Q EPS -$4.01 vs. -$2.22 est), has a negative PE and projected -$3.72 EPS for the year, while institutional investors own about 75% of the stock.

Crescent Biopharma, Inc. (NASDAQ:CBIO - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $13.34 and traded as high as $26.53. Crescent Biopharma shares last traded at $25.15, with a volume of 145,666 shares.

Wall Street Analyst Weigh In

CBIO has been the subject of a number of research reports. HC Wainwright dropped their target price on shares of Crescent Biopharma from $25.00 to $22.00 and set a "buy" rating for the company in a report on Monday, March 2nd. Stifel Nicolaus set a $29.00 price target on Crescent Biopharma in a report on Thursday, February 26th. Wall Street Zen upgraded Crescent Biopharma from a "sell" rating to a "hold" rating in a report on Saturday, March 7th. Weiss Ratings reiterated a "sell (e-)" rating on shares of Crescent Biopharma in a report on Monday, December 29th. Finally, Piper Sandler began coverage on Crescent Biopharma in a report on Wednesday, January 28th. They set an "overweight" rating and a $35.00 price target on the stock. Three research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $28.00.

Crescent Biopharma Trading Up 1.4%

The firm has a fifty day moving average price of $15.42 and a 200 day moving average price of $13.34. The firm has a market cap of $349.33 million, a PE ratio of -1.77 and a beta of 1.04.

Crescent Biopharma (NASDAQ:CBIO - Get Free Report) last posted its quarterly earnings results on Thursday, February 26th. The biopharmaceutical company reported ($4.01) EPS for the quarter, missing the consensus estimate of ($2.22) by ($1.79). The firm had revenue of $10.84 million during the quarter. As a group, equities analysts predict that Crescent Biopharma, Inc. will post -3.72 earnings per share for the current year.

Institutional Trading of Crescent Biopharma

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Cannon Global Investment Management LLC purchased a new stake in Crescent Biopharma in the 1st quarter valued at about $187,000. ADAR1 Capital Management LLC purchased a new stake in Crescent Biopharma in the 4th quarter valued at about $7,187,000. Vestal Point Capital LP purchased a new stake in Crescent Biopharma in the 4th quarter valued at about $17,790,000. Tang Capital Management LLC raised its holdings in Crescent Biopharma by 28.3% in the 4th quarter. Tang Capital Management LLC now owns 872,398 shares of the biopharmaceutical company's stock valued at $10,347,000 after buying an additional 192,574 shares during the period. Finally, Quadrature Capital Ltd purchased a new stake in Crescent Biopharma in the 4th quarter valued at about $157,000. 75.19% of the stock is currently owned by hedge funds and other institutional investors.

Crescent Biopharma Company Profile

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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