Short Interest in Crescent Biopharma, Inc. (NASDAQ:CBIO) Expands By 91.8%

Key Points

• Short interest in Crescent Biopharma, Inc. increased by 91.8% in September, with a total of 502,400 shares sold short as of the end of the month.
• The company's stock has a current market cap of $244.96 million and has experienced a slight decline of 0.1% with a share price opening at $12.53.
• Wall Street analysts have mixed opinions, with the stock receiving an average rating of "Buy" and a price target of $25.60, while some analysts have downgraded it to a "sell" rating.

Crescent Biopharma, Inc. (NASDAQ:CBIO - Get Free Report) saw a large growth in short interest during the month of September. As of September 30th, there was short interest totaling 502,400 shares, a growth of 91.8% from the September 15th total of 261,900 shares. Currently, 4.5% of the shares of the company are sold short. Based on an average daily volume of 122,100 shares, the short-interest ratio is presently 4.1 days. Based on an average daily volume of 122,100 shares, the short-interest ratio is presently 4.1 days. Currently, 4.5% of the shares of the company are sold short.

Crescent Biopharma Stock Down 0.1%

NASDAQ CBIO opened at $12.53 on Tuesday. The company has a market cap of $244.96 million, a P/E ratio of -0.36 and a beta of 1.51. Crescent Biopharma has a 12-month low of $9.81 and a 12-month high of $63.00. The firm has a 50-day simple moving average of $12.88.

Institutional Trading of Crescent Biopharma

A number of institutional investors have recently bought and sold shares of CBIO. Jefferies Financial Group Inc. bought a new stake in Crescent Biopharma in the 2nd quarter valued at about $437,000. Affinity Asset Advisors LLC bought a new stake in Crescent Biopharma in the 2nd quarter valued at about $4,520,000. Commodore Capital LP bought a new stake in Crescent Biopharma in the 2nd quarter valued at about $7,322,000. Adage Capital Partners GP L.L.C. bought a new stake in Crescent Biopharma in the 2nd quarter valued at about $1,629,000. Finally, Bank of America Corp DE bought a new stake in Crescent Biopharma in the 2nd quarter valued at about $149,000. Institutional investors own 75.19% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CBIO shares. Stifel Nicolaus started coverage on shares of Crescent Biopharma in a research note on Wednesday, June 25th. They set a "buy" rating and a $28.00 price objective on the stock. Jefferies Financial Group initiated coverage on shares of Crescent Biopharma in a research note on Monday, August 25th. They set a "buy" rating and a $26.00 price objective on the stock. Wall Street Zen downgraded shares of Crescent Biopharma from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Wedbush initiated coverage on shares of Crescent Biopharma in a report on Monday, July 14th. They set an "outperform" rating and a $27.00 target price for the company. Finally, HC Wainwright reaffirmed a "buy" rating and set a $25.00 target price on shares of Crescent Biopharma in a report on Wednesday, August 27th. Two investment analysts have rated the stock with a Strong Buy rating and four have given a Buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $25.60.

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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