Crescent Biopharma (NASDAQ:CBIO) Posts Quarterly Earnings Results

Crescent Biopharma (NASDAQ:CBIO) issued its quarterly earnings data on Thursday. The biopharmaceutical company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.20), FiscalAI reports. The company had revenue of $3.12 million during the quarter, compared to analyst estimates of $0.62 million.

Crescent Biopharma Trading Down 2.6%

NASDAQ:CBIO traded down $0.39 during midday trading on Thursday, hitting $14.37. 209,892 shares of the stock were exchanged, compared to its average volume of 295,962. The company has a market capitalization of $533.76 million, a price-to-earnings ratio of -2.14 and a beta of 1.40. Crescent Biopharma 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 $15.01 and a two-hundred day moving average price of $15.85.

Analyst Ratings Changes

A number of research analysts have recently commented on CBIO shares. HC Wainwright reissued a “buy” rating and set a $36.00 price target on shares of Crescent Biopharma in a report on Monday, October 19th. TD Cowen raised shares of Crescent Biopharma to a “strong-buy” rating in a report on Monday, August 24th. Wedbush reaffirmed an “outperform” rating and issued a $27.00 price objective on shares of Crescent Biopharma in a report on Monday, September 14th. UBS Group reiterated a “buy” rating and issued a $36.00 target price on shares of Crescent Biopharma in a research report on Monday, October 19th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Crescent Biopharma in a research report on Wednesday, November 4th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $33.00.

Insider Buying and Selling at Crescent Biopharma

In related news, COO Jonathan McNeill sold 3,839 shares of the business’s stock in a transaction that occurred on Friday, September 18th. The shares were sold at an average price of $16.71, for a total value of $64,149.69. Following the sale, the chief operating officer directly owned 134,588 shares in the company, valued at $2,248,965.48. The trade was a 2.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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. Also, CEO Joshua T. Brumm sold 7,837 shares of the stock in a transaction that occurred on Friday, September 18th. The shares were sold at an average price of $16.71, for a total transaction of $130,956.27. Following the sale, the chief executive officer directly owned 271,765 shares of the company’s stock, valued at approximately $4,541,193.15. This represents a 2.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. In the last 90 days, insiders sold 16,726 shares of company stock valued at $285,501. Insiders own 24.84% of the company’s stock.

About Crescent Biopharma

Crescent Biopharma is a clinical-stage biotechnology company focused on developing medicines for cancer. Its research centers on antibody-based treatments, including therapies designed to target tumor cells and support the body’s immune response. The company’s work is directed toward advancing oncology drug candidates through clinical development. Its pipeline and programs may change as research progresses, and its products are investigational rather than established treatments. Crescent Biopharma is focused on developing its therapies for cancer patients; detailed information about its geographic operations and leadership is not included here.