Crescent Biopharma, Inc. (NASDAQ:CBIO) Receives $25.60 Consensus Target Price from Analysts

Crescent Biopharma, Inc. (NASDAQ:CBIO) has been given a consensus recommendation of “Buy” by the six brokerages that are currently covering the firm, MarketBeat reports. Four research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $25.60.

Several research analysts recently commented on CBIO shares. HC Wainwright restated a “buy” rating and issued a $25.00 price target on shares of Crescent Biopharma in a report on Wednesday, August 27th. Lifesci Capital raised shares of Crescent Biopharma to a “strong-buy” rating and set a $22.00 price objective for the company in a research report on Wednesday, June 18th. Wall Street Zen downgraded shares of Crescent Biopharma from a “hold” rating to a “sell” rating in a research note on Saturday, August 2nd. Wedbush started coverage on shares of Crescent Biopharma in a research report on Monday, July 14th. They set an “outperform” rating and a $27.00 price target for the company. Finally, Stifel Nicolaus initiated coverage on Crescent Biopharma in a report on Wednesday, June 25th. They issued a “buy” rating and a $28.00 price target for the company.

Crescent Biopharma Trading Up 1.1%

Crescent Biopharma stock opened at $12.03 on Tuesday. The stock has a market cap of $235.19 million, a P/E ratio of -0.34 and a beta of 1.51. Crescent Biopharma has a 12 month low of $10.83 and a 12 month high of $63.00. The stock has a 50-day moving average price of $13.03.

Institutional Investors Weigh In On Crescent Biopharma

Hedge funds have recently modified their holdings of the stock. Bank of America Corp DE acquired a new position in Crescent Biopharma during the 2nd quarter worth approximately $149,000. Jefferies Financial Group Inc. purchased a new stake in shares of Crescent Biopharma during the second quarter valued at approximately $437,000. Adage Capital Partners GP L.L.C. acquired a new position in shares of Crescent Biopharma during the second quarter worth $1,629,000. Braidwell LP acquired a new position in shares of Crescent Biopharma during the second quarter worth $4,221,000. Finally, Affinity Asset Advisors LLC purchased a new position in shares of Crescent Biopharma in the second quarter valued at $4,520,000. 75.19% of the stock is currently owned by hedge funds and other institutional investors.

About Crescent Biopharma

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.