Crescent Biopharma, Inc. (NASDAQ:CBIO - Get Free Report)'s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $0.00 and traded as high as $13.68. Crescent Biopharma shares last traded at $13.23, with a volume of 92,885 shares changing hands.
Analysts Set New Price Targets
CBIO has been the topic of several recent analyst reports. Wall Street Zen downgraded shares of Crescent Biopharma from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Jefferies Financial Group started coverage on shares of Crescent Biopharma in a research report on Monday, August 25th. They set a "buy" rating and a $26.00 price target on the stock. Lifesci Capital upgraded shares of Crescent Biopharma to a "strong-buy" rating and set a $22.00 price target on the stock in a research report on Wednesday, June 18th. Stifel Nicolaus began coverage on shares of Crescent Biopharma in a research report on Wednesday, June 25th. They set a "buy" rating and a $28.00 target price on the stock. Finally, HC Wainwright restated a "buy" rating and set 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's stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $25.60.
Get Our Latest Analysis on Crescent Biopharma
Crescent Biopharma Stock Performance
The business has a fifty day simple moving average of $13.62. The firm has a market cap of $278.39 million, a price-to-earnings ratio of -0.41 and a beta of 1.59.
Hedge Funds Weigh In On Crescent Biopharma
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE acquired a new stake in shares of Crescent Biopharma during the second quarter worth $149,000. Jefferies Financial Group Inc. acquired a new stake in shares of Crescent Biopharma during the second quarter worth $437,000. Adage Capital Partners GP L.L.C. acquired a new position in Crescent Biopharma in the second quarter valued at about $1,629,000. Braidwell LP acquired a new position in Crescent Biopharma in the second quarter valued at about $4,221,000. Finally, Affinity Asset Advisors LLC acquired a new position in Crescent Biopharma in the second quarter valued at about $4,520,000. 75.19% of the stock is owned by institutional investors.
Crescent Biopharma Company Profile
(
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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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