Crescent Biopharma (NASDAQ:CBIO) Stock Price Crosses Above 200 Day Moving Average - Time to Sell?

Key Points

• Crescent Biopharma's stock price has recently surpassed its 200-day moving average, trading at $12.49 after reaching a high of $12.98.
• Wall Street analysts have differing views on Crescent Biopharma, with several analysts issuing buy ratings and price targets ranging from $22.00 to $28.00, while others have downgraded the stock.
• Institutional investors hold 75.19% of Crescent Biopharma's shares, indicating strong interest from major financial entities, with several acquiring new positions worth millions.

Crescent Biopharma, Inc. (NASDAQ:CBIO - Get Free Report)'s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $0.00 and traded as high as $12.98. Crescent Biopharma shares last traded at $12.49, with a volume of 103,622 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CBIO shares. Jefferies Financial Group started coverage on shares of Crescent Biopharma in a report on Monday, August 25th. They issued a "buy" rating and a $26.00 price objective for the company. Wall Street Zen cut shares of Crescent Biopharma from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. HC Wainwright reiterated a "buy" rating and issued a $25.00 price objective on shares of Crescent Biopharma in a report on Wednesday, August 27th. Stifel Nicolaus began coverage on shares of Crescent Biopharma in a report on Wednesday, June 25th. They issued a "buy" rating and a $28.00 price objective for the company. Finally, Lifesci Capital upgraded shares of Crescent Biopharma to a "strong-buy" rating and set a $22.00 target price on the stock in a report on Wednesday, June 18th. Two research analysts have rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company. According to MarketBeat.com, the company has an average rating of "Buy" and an average price target of $25.60.

Crescent Biopharma Stock Down 0.5%

The company has a fifty day moving average of $13.29. The firm has a market cap of $244.18 million, a price-to-earnings ratio of -0.36 and a beta of 1.59.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of America Corp DE acquired a new position in shares of Crescent Biopharma in the second quarter worth about $149,000. Jefferies Financial Group Inc. acquired a new position in shares of Crescent Biopharma in the second quarter worth about $437,000. Adage Capital Partners GP L.L.C. acquired a new position in shares of Crescent Biopharma in the second quarter worth about $1,629,000. Braidwell LP acquired a new position in shares of Crescent Biopharma in the second quarter worth about $4,221,000. Finally, Affinity Asset Advisors LLC acquired a new position in shares of Crescent Biopharma in the second quarter worth about $4,520,000. 75.19% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.