Crescent Biopharma (NASDAQ:CBIO) Insider Sells $21,911.82 in Stock

Crescent Biopharma, Inc. (NASDAQ:CBIO) insider Barbara Harlin Bispham sold 1,218 shares of the stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $17.99, for a total transaction of $21,911.82. Following the completion of the sale, the insider owned 19,330 shares of the company’s stock, valued at approximately $347,746.70. This trade represents a 5.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at 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 Stock Down 2.1%

Crescent Biopharma stock opened at $16.99 on Friday. Crescent Biopharma, Inc. has a 52 week low of $8.72 and a 52 week high of $27.41. The company’s 50 day moving average price is $19.76 and its two-hundred day moving average price is $15.09. The stock has a market cap of $468.24 million, a P/E ratio of -1.56 and a beta of 1.16.

Crescent Biopharma (NASDAQ:CBIO) last released its earnings results 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 the consensus estimate of $0.36 million. On average, equities analysts anticipate that Crescent Biopharma, Inc. will post -3.25 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CBIO shares. Weiss Ratings upgraded Crescent Biopharma from a “sell (e)” rating to a “sell (d-)” rating in a research note on Wednesday, May 13th. HC Wainwright cut 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. Stifel Nicolaus set a $29.00 price target on shares of Crescent Biopharma in a research report on Thursday, February 26th. Finally, Wall Street Zen upgraded shares of Crescent Biopharma from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Crescent Biopharma currently has an average rating of “Moderate Buy” and an average target price of $29.00.

Institutional Investors Weigh In On Crescent Biopharma

A number of hedge funds have recently modified their holdings of CBIO. OMERS ADMINISTRATION Corp bought a new position in Crescent Biopharma during the fourth quarter valued at $138,000. Bank of America Corp DE purchased a new stake in Crescent Biopharma in the second quarter worth $149,000. HRT Financial LP bought a new stake in shares of Crescent Biopharma in the fourth quarter valued at $155,000. Quadrature Capital Ltd purchased a new position in shares of Crescent Biopharma during the 4th quarter valued at $157,000. Finally, Cannon Global Investment Management LLC bought a new position in shares of Crescent Biopharma during the 1st quarter worth $187,000. Institutional investors own 75.19% of the company’s stock.

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