Crescent Biopharma, Inc. (NASDAQ:CBIO) Receives $25.60 Average PT from Analysts

Crescent Biopharma, Inc. (NASDAQ:CBIO) has received an average rating of “Buy” from the six analysts that are covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $25.60.

Several brokerages recently weighed in on CBIO. HC Wainwright reaffirmed a “buy” rating and set a $25.00 price target on shares of Crescent Biopharma in a report on Wednesday, August 27th. Wall Street Zen downgraded shares of Crescent Biopharma from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. Jefferies Financial Group initiated coverage on shares of Crescent Biopharma in a report on Monday, August 25th. They set a “buy” rating and a $26.00 price target for the company. Finally, Wedbush assumed coverage on shares of Crescent Biopharma in a research report on Monday, July 14th. They issued an “outperform” rating and a $27.00 price objective for the company.

Crescent Biopharma Trading Up 2.4%

CBIO opened at $13.00 on Friday. Crescent Biopharma has a 52 week low of $9.81 and a 52 week high of $63.00. The firm’s 50 day moving average is $12.79. The stock has a market cap of $254.15 million, a P/E ratio of -0.37 and a beta of 1.51.

Institutional Investors Weigh In On Crescent Biopharma

A number of hedge funds and other institutional investors have recently bought and sold shares of CBIO. Bank of America Corp DE purchased a new position in shares of Crescent Biopharma in the 2nd quarter valued at about $149,000. Jefferies Financial Group Inc. purchased a new stake in shares of Crescent Biopharma during the 2nd quarter worth approximately $437,000. Adage Capital Partners GP L.L.C. purchased a new position in Crescent Biopharma in the 2nd quarter valued at approximately $1,629,000. Braidwell LP acquired a new position in Crescent Biopharma during the second quarter worth $4,221,000. Finally, Affinity Asset Advisors LLC purchased a new stake in Crescent Biopharma during the second quarter worth $4,520,000. Institutional investors and hedge funds own 75.19% of the company’s stock.

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.