Crescent Biopharma (NASDAQ:CBIO) Insider Ellie Eunkyung Im Sells 1,219 Shares

Crescent Biopharma, Inc. (NASDAQ:CBIO) insider Ellie Eunkyung Im sold 1,219 shares of Crescent Biopharma stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $17.99, for a total transaction of $21,929.81. Following the transaction, the insider owned 22,069 shares in the company, valued at $397,021.31. The trade was a 5.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible 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.

Crescent Biopharma Trading Down 0.4%

Shares of CBIO traded down $0.07 during midday trading on Tuesday, reaching $17.50. 227,100 shares of the company were exchanged, compared to its average volume of 235,713. Crescent Biopharma, Inc. has a 1-year low of $8.72 and a 1-year high of $27.41. The stock has a 50-day moving average price of $19.83 and a 200-day moving average price of $15.01. The company has a market cap of $482.30 million, a price-to-earnings ratio of -1.60 and a beta of 1.17.

Crescent Biopharma (NASDAQ:CBIO) last announced its earnings results on Wednesday, April 29th. The biopharmaceutical company reported ($0.70) EPS for the quarter, beating the consensus estimate of ($0.85) by $0.15. The company had revenue of $1.04 million for the quarter, compared to analysts’ expectations of $0.36 million. Equities research analysts anticipate that Crescent Biopharma, Inc. will post -3.25 earnings per share for the current year.

Institutional Investors Weigh In On Crescent Biopharma

Institutional investors have recently modified their holdings of the business. Bank of America Corp DE raised its stake in Crescent Biopharma by 425.3% during the first quarter. Bank of America Corp DE now owns 29,277 shares of the biopharmaceutical company’s stock worth $538,000 after acquiring an additional 23,704 shares during the period. Exome Asset Management LLC acquired a new stake in shares of Crescent Biopharma during the 1st quarter worth approximately $2,814,000. OMERS ADMINISTRATION Corp lifted its holdings in shares of Crescent Biopharma by 53.4% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 17,800 shares of the biopharmaceutical company’s stock worth $327,000 after purchasing an additional 6,200 shares during the last quarter. Jennison Associates LLC acquired a new position in Crescent Biopharma during the 1st quarter valued at approximately $2,810,000. Finally, Cannon Global Investment Management LLC acquired a new position in Crescent Biopharma during the 1st quarter valued at approximately $187,000. Institutional investors own 75.19% of the company’s stock.

Analyst Ratings Changes

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

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.