Fcpm Iii Services B.V. Makes New Investment in Crescent Biopharma, Inc. $CBIO

Fcpm Iii Services B.V. acquired a new position in shares of Crescent Biopharma, Inc. (NASDAQ:CBIO) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 1,677,852 shares of the biopharmaceutical company’s stock, valued at approximately $19,899,000. Crescent Biopharma makes up approximately 2.6% of Fcpm Iii Services B.V.’s investment portfolio, making the stock its 9th largest holding. Fcpm Iii Services B.V. owned 12.08% of Crescent Biopharma at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp grew its position in Crescent Biopharma by 40.8% during the 4th quarter. State Street Corp now owns 26,217 shares of the biopharmaceutical company’s stock worth $311,000 after purchasing an additional 7,600 shares in the last quarter. Bank of America Corp DE purchased a new position in shares of Crescent Biopharma during the 2nd quarter valued at $149,000. OMERS ADMINISTRATION Corp purchased a new position in shares of Crescent Biopharma during the 4th quarter valued at $138,000. HRT Financial LP purchased a new position in shares of Crescent Biopharma during the 4th quarter valued at $155,000. Finally, Renaissance Technologies LLC grew its holdings in shares of Crescent Biopharma by 73.6% during the 4th quarter. Renaissance Technologies LLC now owns 46,700 shares of the biopharmaceutical company’s stock valued at $554,000 after acquiring an additional 19,800 shares in the last quarter. 75.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Weiss Ratings upgraded shares of Crescent Biopharma from a “sell (e)” rating to a “sell (d-)” rating in a report on Wednesday, May 13th. HC Wainwright lowered their price target 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. Wall Street Zen upgraded shares of Crescent Biopharma from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Finally, Stifel Nicolaus set a $29.00 price target on shares of Crescent Biopharma in a report on Thursday, February 26th. Three investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $28.00.

Crescent Biopharma Trading Down 1.3%

CBIO stock opened at $17.95 on Wednesday. Crescent Biopharma, Inc. has a 1 year low of $8.72 and a 1 year high of $27.41. The company has a fifty day simple moving average of $19.93 and a 200 day simple moving average of $14.91. The firm has a market cap of $494.70 million, a PE ratio of -1.65 and a beta of 1.16.

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

Crescent Biopharma 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.