Jan Pinkas Sells 1,288 Shares of Crescent Biopharma (NASDAQ:CBIO) Stock

Crescent Biopharma, Inc. (NASDAQ:CBIO) insider Jan Pinkas sold 1,288 shares of the stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $17.99, for a total value of $23,171.12. Following the completion of the sale, the insider directly owned 22,239 shares of the company’s stock, valued at approximately $400,079.61. This represents a 5.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Crescent Biopharma Trading Down 0.8%

Shares of NASDAQ CBIO opened at $17.36 on Thursday. Crescent Biopharma, Inc. has a one year low of $8.72 and a one year high of $27.41. The business has a 50-day moving average price of $19.81 and a two-hundred day moving average price of $15.07. The firm has a market capitalization of $478.44 million, a PE ratio of -1.59 and a beta of 1.16.

Crescent Biopharma (NASDAQ:CBIO) last issued its earnings results on Wednesday, April 29th. The biopharmaceutical company reported ($0.70) earnings per share for the quarter, beating analysts’ consensus estimates 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. Research analysts anticipate that Crescent Biopharma, Inc. will post -3.25 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. Jefferies Financial Group Inc. raised its position in Crescent Biopharma by 279.1% during the third quarter. Jefferies Financial Group Inc. now owns 102,714 shares of the biopharmaceutical company’s stock valued at $1,221,000 after acquiring an additional 75,618 shares in the last quarter. NEXTBio Capital Management LP acquired a new stake in Crescent Biopharma in the fourth quarter valued at approximately $4,422,000. BVF Inc. IL grew its position in Crescent Biopharma by 98.1% in the fourth quarter. BVF Inc. IL now owns 2,748,763 shares of the biopharmaceutical company’s stock worth $32,600,000 after acquiring an additional 1,360,900 shares in the last quarter. Fcpm Iii Services B.V. bought a new stake in Crescent Biopharma in the fourth quarter worth approximately $19,899,000. Finally, Quadrature Capital Ltd bought a new stake in Crescent Biopharma in the fourth quarter worth approximately $157,000. 75.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Wall Street Zen upgraded shares of Crescent Biopharma from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. HC Wainwright decreased their target price on shares of Crescent Biopharma from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Monday, March 2nd. Weiss Ratings upgraded shares of Crescent Biopharma from a “sell (e)” rating to a “sell (d-)” rating in a report on Wednesday, May 13th. Finally, Stifel Nicolaus set a $29.00 price target on shares of Crescent Biopharma in a report on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $29.00.

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