Crescent Biopharma, Inc. (NASDAQ:CBIO - Get Free Report) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $0.00 and traded as high as $14.26. Crescent Biopharma shares last traded at $13.60, with a volume of 53,356 shares trading hands.
Analyst Ratings Changes
A number of research analysts have recently commented on the company. HC Wainwright began coverage on Crescent Biopharma in a research note on Monday, August 11th. They issued a "buy" rating and a $25.00 target price for the company. Wall Street Zen cut Crescent Biopharma from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. TD Cowen upgraded Crescent Biopharma to a "strong-buy" rating in a research note on Friday, June 20th. Jefferies Financial Group began coverage on Crescent Biopharma in a research note on Monday. They set a "buy" rating and a $26.00 price objective for the company. Finally, Stifel Nicolaus began coverage on Crescent Biopharma in a research note on Wednesday, June 25th. They set a "buy" rating and a $28.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating and four have given a Buy rating to the company. According to data from MarketBeat, Crescent Biopharma has an average rating of "Buy" and a consensus target price of $25.60.
Get Our Latest Analysis on Crescent Biopharma
Crescent Biopharma Stock Performance
The business's 50 day simple moving average is $13.92. The company has a market cap of $287.39 million, a price-to-earnings ratio of -0.42 and a beta of 1.51.
Institutional Trading of Crescent Biopharma
A number of institutional investors and hedge funds have recently modified their holdings of CBIO. Jefferies Financial Group Inc. bought a new stake in shares of Crescent Biopharma in the 2nd quarter worth $437,000. Affinity Asset Advisors LLC bought a new stake in shares of Crescent Biopharma in the 2nd quarter worth $4,520,000. Commodore Capital LP bought a new stake in shares of Crescent Biopharma in the 2nd quarter worth $7,322,000. Adage Capital Partners GP L.L.C. bought a new stake in shares of Crescent Biopharma in the 2nd quarter worth $1,629,000. Finally, Bank of America Corp DE bought a new stake in shares of Crescent Biopharma in the 2nd quarter worth $149,000. Institutional investors own 75.19% of the company's stock.
About Crescent Biopharma
(
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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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