Crescent Biopharma, Inc. (NASDAQ:CBIO - Get Free Report) Director Fairmount Funds Management Llc acquired 1,360,000 shares of the stock in a transaction dated Thursday, December 4th. The stock was acquired at an average price of $13.41 per share, for a total transaction of $18,237,600.00. Following the completion of the transaction, the director directly owned 2,747,866 shares of the company's stock, valued at approximately $36,848,883.06. This represents a 97.99% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Crescent Biopharma Price Performance
NASDAQ:CBIO opened at $13.17 on Tuesday. The stock's 50-day simple moving average is $12.74. The stock has a market capitalization of $182.93 million, a PE ratio of -0.62 and a beta of 1.32. Crescent Biopharma, Inc. has a 12-month low of $9.81 and a 12-month high of $37.00.
Crescent Biopharma (NASDAQ:CBIO - Get Free Report) last posted its quarterly earnings results on Thursday, November 6th. The biopharmaceutical company reported ($1.27) earnings per share for the quarter, missing the consensus estimate of ($1.01) by ($0.26). Research analysts predict that Crescent Biopharma, Inc. will post -0.16 EPS for the current year.
Institutional Investors Weigh In On Crescent Biopharma
Several institutional investors have recently made changes to their positions in the company. Bank of America Corp DE purchased a new position in shares of Crescent Biopharma during the 2nd quarter worth about $149,000. Citadel Advisors LLC bought a new stake in Crescent Biopharma in the third quarter worth about $304,000. Jefferies Financial Group Inc. purchased a new position in shares of Crescent Biopharma during the second quarter valued at approximately $437,000. Two Sigma Investments LP bought a new position in shares of Crescent Biopharma during the third quarter valued at approximately $337,000. Finally, Adage Capital Partners GP L.L.C. bought a new position in shares of Crescent Biopharma during the second quarter valued at approximately $1,629,000. Institutional investors own 75.19% of the company's stock.
Analyst Ratings Changes
Several equities analysts recently weighed in on the stock. Weiss Ratings reaffirmed a "sell (e-)" rating on shares of Crescent Biopharma in a research note on Monday, December 1st. Wall Street Zen downgraded shares of Crescent Biopharma from a "hold" rating to a "sell" rating in a report on Saturday. Jefferies Financial Group assumed coverage on Crescent Biopharma in a report on Monday, August 25th. They issued a "buy" rating and a $26.00 target price on the stock. HC Wainwright reiterated a "buy" rating and issued a $25.00 target price on shares of Crescent Biopharma in a research report on Wednesday, August 27th. Finally, Stifel Nicolaus set a $32.00 price target on Crescent Biopharma in a research note on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $26.40.
View Our Latest Research Report on CBIO
Crescent Biopharma Company Profile
(
Get Free Report)
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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