Why Did Crescent Biopharma Drop 10.72%?

On June 26, 2025, Crescent Biopharma, Inc. Common Stock (CBIO) experienced a significant drop of 10.72% in pre-market trading.

Crescent Biopharma recently underwent a 1:1 CUSIP change and a 1 for 100 reverse split, which may have contributed to the market's reaction. Additionally, Stifel initiated coverage of Crescent Biopharma with a Buy rating and a $28 price target, highlighting the stock's potential as an attractive investment opportunity.

The company's strong team and culture, characterized by analytical rigor, intellectual curiosity, and a spirit of partnership, are key drivers of its success. Crescent Biopharma's leadership, including Scott Kapnick and Scot French, brings a wealth of experience and expertise to the table, ensuring the company's continued growth and innovation.