Crescent Biopharma (NASDAQ:CBIO) Announces Earnings Results, Misses Estimates By $0.20 EPS

Crescent Biopharma (NASDAQ:CBIO) issued its quarterly earnings data on Thursday. The biopharmaceutical company reported ($0.90) earnings per share 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 the consensus estimate of $0.62 million.

Crescent Biopharma Price Performance

Shares of CBIO opened at $14.37 on Friday. The firm has a market capitalization of $533.70 million, a PE ratio of -2.14 and a beta of 1.40. Crescent Biopharma has a 1-year low of $8.72 and a 1-year high of $27.41. The company’s fifty day moving average price is $14.93 and its 200-day moving average price is $15.86.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Crescent Biopharma

In other Crescent Biopharma news, CEO Joshua T. Brumm sold 7,837 shares of Crescent Biopharma stock in a transaction dated Friday, September 18th. The stock was sold at an average price of $16.71, for a total transaction of $130,956.27. Following the completion of the sale, the chief executive officer owned 271,765 shares of the company’s stock, valued at approximately $4,541,193.15. The trade was a 2.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed 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, COO Jonathan McNeill sold 3,839 shares of the stock in a transaction dated Friday, September 18th. The shares were 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 directly 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 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. Over the last three months, insiders sold 16,726 shares of company stock worth $285,501. 24.84% of the stock is owned by insiders.

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.