Jefferies Financial Group Inc. Has $1.22 Million Position in Crescent Biopharma, Inc. $CBIO

Jefferies Financial Group Inc. boosted its holdings in Crescent Biopharma, Inc. (NASDAQ:CBIO) by 279.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 102,714 shares of the biopharmaceutical company’s stock after acquiring an additional 75,618 shares during the quarter. Jefferies Financial Group Inc. owned 0.74% of Crescent Biopharma worth $1,221,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Bank of America Corp DE bought a new position in Crescent Biopharma during the second quarter worth about $149,000. Adage Capital Partners GP L.L.C. bought a new stake in shares of Crescent Biopharma in the 2nd quarter valued at approximately $1,629,000. Braidwell LP bought a new stake in shares of Crescent Biopharma in the 2nd quarter valued at approximately $4,221,000. Affinity Asset Advisors LLC acquired a new position in shares of Crescent Biopharma in the 2nd quarter worth approximately $4,520,000. Finally, Soleus Capital Management L.P. acquired a new position in shares of Crescent Biopharma in the 2nd quarter worth approximately $6,456,000. Institutional investors and hedge funds own 75.19% of the company’s stock.

Crescent Biopharma Trading Down 5.3%

NASDAQ:CBIO opened at $11.88 on Thursday. The stock has a market capitalization of $165.05 million, a P/E ratio of -0.84 and a beta of 1.31. Crescent Biopharma, Inc. has a 1 year low of $8.72 and a 1 year high of $28.77. The firm has a 50 day moving average of $11.21 and a 200-day moving average of $12.30.

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

Wall Street Analyst Weigh In

CBIO has been the topic of several recent analyst reports. Stifel Nicolaus set a $29.00 price target on Crescent Biopharma in a research note on Thursday, February 26th. Weiss Ratings reiterated a “sell (e-)” rating on shares of Crescent Biopharma in a research note on Monday, December 29th. Guggenheim began coverage on shares of Crescent Biopharma in a research note on Wednesday, January 21st. They issued a “buy” rating and a $35.00 target price on the stock. HC Wainwright lowered their target price on shares of Crescent Biopharma from $25.00 to $22.00 and set a “buy” rating on the stock in a report on Monday, March 2nd. Finally, Wall Street Zen raised shares of Crescent Biopharma from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Three equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $28.00.

Crescent Biopharma Company Profile

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.