BVF Inc. IL Purchases 1,360,900 Shares of Crescent Biopharma, Inc. $CBIO

BVF Inc. IL raised its position in Crescent Biopharma, Inc. (NASDAQ:CBIO) by 98.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 2,748,763 shares of the biopharmaceutical company’s stock after buying an additional 1,360,900 shares during the period. Crescent Biopharma makes up 1.1% of BVF Inc. IL’s portfolio, making the stock its 27th biggest holding. BVF Inc. IL owned about 0.20% of Crescent Biopharma worth $32,600,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Jefferies Financial Group Inc. increased its holdings in Crescent Biopharma by 279.1% in the third quarter. Jefferies Financial Group Inc. now owns 102,714 shares of the biopharmaceutical company’s stock valued at $1,221,000 after purchasing an additional 75,618 shares during the period. NEXTBio Capital Management LP acquired a new stake in Crescent Biopharma in the fourth quarter valued at $4,422,000. Fcpm Iii Services B.V. acquired a new stake in Crescent Biopharma in the fourth quarter valued at $19,899,000. Geode Capital Management LLC increased its holdings in Crescent Biopharma by 31.7% in the fourth quarter. Geode Capital Management LLC now owns 91,079 shares of the biopharmaceutical company’s stock valued at $1,081,000 after purchasing an additional 21,945 shares during the period. Finally, Burkehill Global Management LP acquired a new stake in Crescent Biopharma in the fourth quarter valued at $844,000. 75.19% of the stock is currently owned by institutional investors and hedge funds.

Crescent Biopharma Stock Performance

NASDAQ:CBIO opened at $18.21 on Thursday. The firm’s fifty day moving average is $19.91 and its 200-day moving average is $14.93. Crescent Biopharma, Inc. has a 52 week low of $8.72 and a 52 week high of $27.41. The firm has a market cap of $501.87 million, a P/E ratio of -1.67 and a beta of 1.16.

Crescent Biopharma (NASDAQ:CBIO) last posted its quarterly earnings data on Wednesday, April 29th. The biopharmaceutical company reported ($0.70) EPS for the quarter, beating analysts’ consensus estimates of ($0.85) by $0.15. The firm had revenue of $1.04 million during the quarter, compared to the consensus estimate of $0.36 million. As a group, sell-side analysts anticipate that Crescent Biopharma, Inc. will post -3.25 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Weiss Ratings upgraded Crescent Biopharma from a “sell (e)” rating to a “sell (d-)” rating in a report on Wednesday, May 13th. Stifel Nicolaus set a $29.00 price objective on Crescent Biopharma in a report on Thursday, February 26th. Wall Street Zen upgraded Crescent Biopharma from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Finally, HC Wainwright reduced their price objective on shares of Crescent Biopharma from $25.00 to $22.00 and set a “buy” rating on the stock in a research note on Monday, March 2nd. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $29.00.

About Crescent Biopharma

Crescent Biopharma, Inc (NASDAQ: CBIO) is a clinical?stage immuno?oncology company focused on the discovery, development and commercialization of novel therapies for patients with solid tumors. The company’s research strategy centers on combination approaches that enhance anti?tumor immune responses by simultaneously targeting multiple pathways implicated in immune evasion and tumor growth.

The company’s lead candidate, CPB-201, is a bifunctional fusion protein designed to block programmed death-ligand 1 (PD-L1) while neutralizing transforming growth factor-beta (TGF-?), with the goal of restoring T-cell activity and reducing tumor fibrosis.