Crescent Biopharma (NASDAQ:CBIO) Stock Crosses Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Crescent Biopharma's stock crossed above its two hundred day moving average and traded at $13.11 with a significant volume of shares exchanged.
• Analysts have set various price targets for the stock, with the consensus target price of $25.60 and ratings ranging from "strong-buy" to "sell."
• Institutional investors have shown strong interest, with several major firms increasing their stakes, leading to 75.19% of the stock being held by hedge funds and institutional investors.

Shares of Crescent Biopharma, Inc. (NASDAQ:CBIO - Get Free Report) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $0.00 and traded as high as $13.50. Crescent Biopharma shares last traded at $13.11, with a volume of 155,060 shares changing hands.

Analysts Set New Price Targets

Several analysts recently commented on CBIO shares. Wedbush started coverage on shares of Crescent Biopharma in a research report on Monday, July 14th. They set an "outperform" rating and a $27.00 price target on the stock. TD Cowen upgraded shares of Crescent Biopharma to a "strong-buy" rating in a research report on Friday, June 20th. Wall Street Zen lowered shares of Crescent Biopharma from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Stifel Nicolaus started 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 on the stock. Finally, HC Wainwright reiterated a "buy" rating and issued a $25.00 target price on shares of Crescent Biopharma in a research report on Wednesday, August 27th. Two analysts have rated the stock with a Strong Buy rating and four have given a Buy rating to the company. Based on data from MarketBeat.com, Crescent Biopharma presently has an average rating of "Buy" and a consensus target price of $25.60.

Crescent Biopharma Stock Up 1.5%

The stock has a 50 day moving average price of $13.13. The stock has a market capitalization of $256.30 million, a P/E ratio of -0.38 and a beta of 1.59.

Institutional Investors Weigh In On Crescent Biopharma

Several large investors have recently added to or reduced their stakes in the business. Soleus Capital Management L.P. purchased a new stake in Crescent Biopharma during the 2nd quarter worth approximately $6,456,000. Perceptive Advisors LLC purchased a new stake in Crescent Biopharma during the 2nd quarter worth approximately $7,322,000. Frazier Life Sciences Management L.P. purchased a new stake in Crescent Biopharma during the 2nd quarter worth approximately $7,322,000. Braidwell LP purchased a new stake in Crescent Biopharma during the 2nd quarter worth approximately $4,221,000. Finally, BVF Inc. IL purchased a new stake in Crescent Biopharma during the 2nd quarter worth approximately $22,400,000. 75.19% of the stock is owned by hedge funds and other institutional investors.

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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