Crescent Biopharma (NASDAQ:CBIO) Research Coverage Started at Jefferies Financial Group

Jefferies Financial Group assumed coverage on shares of Crescent Biopharma (NASDAQ:CBIO) in a report issued on Monday, Marketbeat.com reports. The firm issued a buy rating and a $26.00 price objective on the biopharmaceutical company’s stock.

CBIO has been the subject of several other reports. Wedbush began coverage on shares of Crescent Biopharma in a research report on Monday, July 14th. They set an “outperform” rating and a $27.00 price objective for the company. TD Cowen upgraded shares of Crescent Biopharma to a “strong-buy” rating in a research report on Friday, June 20th. Lifesci Capital upgraded 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 report on Saturday, August 2nd. Finally, Stifel Nicolaus began coverage on shares of Crescent Biopharma in a research report on Wednesday, June 25th. They set a “buy” rating and a $28.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating and four have given a Buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $25.60.

Crescent Biopharma Price Performance

Crescent Biopharma stock opened at $14.25 on Monday. Crescent Biopharma has a 52 week low of $10.83 and a 52 week high of $63.00. The company has a market capitalization of $278.59 million, a PE ratio of -0.41 and a beta of 1.51. The stock’s 50-day simple moving average is $13.88.

Institutional Investors Weigh In On Crescent Biopharma

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

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.