Crescent Biopharma (NASDAQ:CBIO) Insider Sells $21,929.81 in Stock

Crescent Biopharma, Inc. (NASDAQ:CBIO) insider Ellie Eunkyung Im sold 1,219 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 22,069 shares of the company’s stock, valued at approximately $397,021.31. The trade was a 5.23% decrease in their position. The sale 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.

Crescent Biopharma Price Performance

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

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

Hedge Funds Weigh In On Crescent Biopharma

Hedge funds have recently made changes to their positions in the stock. OMERS ADMINISTRATION Corp acquired a new position in shares of Crescent Biopharma in the fourth quarter worth approximately $138,000. Bank of America Corp DE bought a new stake in Crescent Biopharma in the second quarter valued at approximately $149,000. HRT Financial LP acquired a new stake in Crescent Biopharma during the 4th quarter valued at approximately $155,000. Quadrature Capital Ltd acquired a new stake in Crescent Biopharma during the 4th quarter valued at approximately $157,000. Finally, Cannon Global Investment Management LLC bought a new position in Crescent Biopharma during the 1st quarter worth approximately $187,000. 75.19% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Wall Street Zen upgraded Crescent Biopharma from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Stifel Nicolaus set a $29.00 target price on shares of Crescent Biopharma in a report on Thursday, February 26th. Weiss Ratings upgraded shares of Crescent Biopharma from a “sell (e)” rating to a “sell (d-)” rating in a research report on Wednesday, May 13th. Finally, HC Wainwright dropped their price target 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. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Crescent Biopharma has a consensus rating of “Moderate Buy” and a consensus price target 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-β), with the goal of restoring T-cell activity and reducing tumor fibrosis.