Crescent Biopharma, Inc. (NASDAQ:CBIO - Get Free Report) shares crossed 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.
Analyst Upgrades and Downgrades
CBIO has been the topic of several recent research reports. Wedbush began coverage on shares of Crescent Biopharma in a research note on Monday, July 14th. They set an "outperform" rating and a $27.00 target price on the stock. TD Cowen raised shares of Crescent Biopharma to a "strong-buy" rating in a research report on Friday, June 20th. HC Wainwright reissued a "buy" rating and set a $25.00 price target on shares of Crescent Biopharma in a research report on Wednesday, August 27th. 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. Finally, Lifesci Capital raised shares of Crescent Biopharma to a "strong-buy" rating and set a $22.00 target price on the stock in a research report on Wednesday, June 18th. Two analysts have rated the stock with a Strong Buy rating and four have issued a Buy rating to the company's stock. According to MarketBeat, Crescent Biopharma presently has a consensus rating of "Buy" and a consensus target price of $25.60.
Read Our Latest Stock Analysis on CBIO
Crescent Biopharma Trading Up 1.1%
The firm has a market capitalization of $252.98 million, a price-to-earnings ratio of -0.37 and a beta of 1.59. The company has a 50-day moving average price of $13.12.
Institutional Trading of Crescent Biopharma
Several hedge funds have recently made changes to their positions in CBIO. Bank of America Corp DE purchased a new stake in shares of Crescent Biopharma during the second quarter worth approximately $149,000. Jefferies Financial Group Inc. purchased a new stake in shares of Crescent Biopharma during the second quarter worth approximately $437,000. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Crescent Biopharma during the second quarter worth approximately $1,629,000. Braidwell LP purchased a new stake in shares of Crescent Biopharma during the second quarter worth approximately $4,221,000. Finally, Affinity Asset Advisors LLC purchased a new stake in shares of Crescent Biopharma during the second quarter worth approximately $4,520,000. Institutional investors and hedge funds own 75.19% of the company's stock.
About Crescent Biopharma
(
Get Free Report)
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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