Crescent Biopharma (NASDAQ:CBIO) Share Price Crosses Above 200-Day Moving Average – Should You Sell?

Crescent Biopharma, Inc. (NASDAQ:CBIO) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $12.17 and traded as high as $18.50. Crescent Biopharma shares last traded at $18.37, with a volume of 199,493 shares.

Wall Street Analyst Weigh In

Several analysts have commented on the company. HC Wainwright reduced their price objective on Crescent Biopharma from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Monday, March 2nd. Wall Street Zen raised Crescent Biopharma from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Weiss Ratings restated a “sell (e-)” rating on shares of Crescent Biopharma in a research note on Monday, December 29th. Guggenheim began coverage on Crescent Biopharma in a report on Wednesday, January 21st. They set a “buy” rating and a $35.00 price target for the company. Finally, Piper Sandler initiated coverage on shares of Crescent Biopharma in a research note on Wednesday, January 28th. They issued an “overweight” rating and a $35.00 price objective on the stock. Three research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $28.00.

Crescent Biopharma Trading Up 0.4%

The stock has a fifty day simple moving average of $11.48 and a two-hundred day simple moving average of $12.22. The company has a market cap of $269.52 million, a PE ratio of -1.37 and a beta of 1.31.

Crescent Biopharma (NASDAQ:CBIO) last issued its earnings results on Thursday, February 26th. The biopharmaceutical company reported ($4.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.22) by ($1.79). The firm had revenue of $10.84 million during the quarter. As a group, equities research analysts anticipate that Crescent Biopharma, Inc. will post -0.16 EPS for the current fiscal year.

Institutional Investors Weigh In On Crescent Biopharma

Hedge funds and other institutional investors have recently bought and sold shares of the business. Affinity Asset Advisors LLC acquired a new position in shares of Crescent Biopharma during the 2nd quarter worth $4,520,000. Commodore Capital LP acquired a new stake in shares of Crescent Biopharma in the second quarter valued at about $7,322,000. Adage Capital Partners GP L.L.C. purchased a new stake in Crescent Biopharma during the second quarter worth about $1,629,000. Bank of America Corp DE acquired a new position in Crescent Biopharma during the second quarter worth about $149,000. Finally, BVF Inc. IL acquired a new position in Crescent Biopharma during the second quarter worth about $22,400,000. Institutional investors and hedge funds own 75.19% of the company’s stock.

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-β), with the goal of restoring T-cell activity and reducing tumor fibrosis.