Crescent Biopharma (NASDAQ:CBIO) COO Sells 3,839 Shares

Crescent Biopharma, Inc. (NASDAQ:CBIO) COO Jonathan McNeill sold 3,839 shares of the firm’s stock in a transaction on Friday, September 18th. The stock was sold at an average price of $16.71, for a total value of $64,149.69. Following the completion of the transaction, the chief operating officer owned 134,588 shares in the company, valued at $2,248,965.48. This represents a 2.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.

Jonathan Mcneill also recently made the following trade(s):

• On Wednesday, September 16th, Jonathan McNeill sold 731 shares of Crescent Biopharma stock. The shares were sold at an average price of $17.90, for a total value of $13,084.90.
• On Monday, June 22nd, Jonathan McNeill sold 20,549 shares of Crescent Biopharma stock. The shares were sold at an average price of $17.99, for a total value of $369,676.51.

Crescent Biopharma Stock Performance

NASDAQ:CBIO traded up $0.12 during mid-day trading on Friday, hitting $16.89. The company had a trading volume of 3,123,507 shares, compared to its average volume of 294,314. Crescent Biopharma, Inc. has a fifty-two week low of $8.72 and a fifty-two week high of $27.41. The firm has a market cap of $627.36 million, a P/E ratio of -2.51 and a beta of 1.24. The business’s fifty day moving average is $17.12 and its two-hundred day moving average is $17.43.

Crescent Biopharma (NASDAQ:CBIO) last posted its earnings results on Thursday, July 30th. The biopharmaceutical company reported ($0.74) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.74). Equities analysts forecast that Crescent Biopharma, Inc. will post -2.91 earnings per share for the current year.

More Crescent Biopharma News

Here are the key news stories impacting Crescent Biopharma this week:

• Neutral Sentiment: CEO Joshua Brumm, COO Jonathan McNeill, CFO Richard Scalzo, and other insiders collectively sold 16,726 shares worth approximately $285,501 between September 16 and September 18. The sales reduced individual holdings by roughly 0.5% to 3.2%, but insiders continued to retain meaningful positions. SEC insider transaction filing
• Neutral Sentiment: All reported transactions were executed under pre-arranged Rule 10b5-1 trading plans and were described as sales to cover tax-withholding obligations tied to vested equity awards. That reduces the likelihood that the transactions represent a change in management’s outlook, although the aggregate selling may still weigh modestly on sentiment. SEC insider transaction filing
• Negative Sentiment: The concentration of sales by senior executives—including the CEO and COO—could be viewed as a near-term supply or sentiment overhang. However, the relatively small percentage reductions and tax-related rationale make this a limited negative signal rather than a clear indication of weakening business prospects. SEC insider transaction filing

Institutional Investors Weigh In On Crescent Biopharma

A number of hedge funds have recently modified their holdings of CBIO. Opaleye Management Inc. grew its position in shares of Crescent Biopharma by 0.5% in the 2nd quarter. Opaleye Management Inc. now owns 1,319,351 shares of the biopharmaceutical company’s stock valued at $23,748,000 after purchasing an additional 6,736 shares during the period. Squarepoint Ops LLC acquired a new stake in Crescent Biopharma during the 2nd quarter worth approximately $435,000. Wellington Management Group LLP acquired a new stake in Crescent Biopharma during the 2nd quarter worth approximately $263,000. Stonepine Capital Management LLC acquired a new stake in Crescent Biopharma during the 2nd quarter worth approximately $720,000. Finally, Bank of America Corp DE bought a new position in Crescent Biopharma in the second quarter valued at approximately $465,000. Institutional investors and hedge funds own 75.19% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Wedbush reaffirmed an “outperform” rating and issued a $27.00 target price on shares of Crescent Biopharma in a research note on Monday. TD Cowen raised shares of Crescent Biopharma to a “strong-buy” rating in a research report on Monday, August 24th. HC Wainwright reissued a “neutral” rating on shares of Crescent Biopharma in a report on Thursday, July 16th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Crescent Biopharma in a research report on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $29.60.

About Crescent Biopharma

Crescent Biopharma, Inc (NASDAQ: CBIO) is a biopharmaceutical company focused on discovering and developing innovative therapies for the treatment of serious diseases. The company’s activities center on research, preclinical development and clinical evaluation of investigational drug candidates.

Crescent Biopharma does not appear to have commercially marketed products. Its pipeline consists of experimental therapies intended to address significant unmet medical needs, although detailed information about specific candidates, therapeutic areas and development stages may be limited in publicly available sources.

The company is headquartered in the United States and serves the biopharmaceutical market through its drug-development programs and potential future partnerships.