Exome Asset Management LLC Acquires Shares of 153,191 Crescent Biopharma, Inc. $CBIO

Exome Asset Management LLC acquired a new position in Crescent Biopharma, Inc. (NASDAQ:CBIO) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 153,191 shares of the biopharmaceutical company’s stock, valued at approximately $2,814,000. Crescent Biopharma makes up about 1.5% of Exome Asset Management LLC’s investment portfolio, making the stock its 29th biggest position.

Several other large investors also recently made changes to their positions in the business. OMERS ADMINISTRATION Corp acquired a new stake in shares of Crescent Biopharma in the fourth quarter valued at $138,000. Bank of America Corp DE acquired a new position in Crescent Biopharma during the 2nd quarter worth $149,000. HRT Financial LP acquired a new position in Crescent Biopharma during the 4th quarter worth $155,000. Quadrature Capital Ltd bought a new position in Crescent Biopharma in the 4th quarter valued at $157,000. Finally, Cannon Global Investment Management LLC bought a new position in Crescent Biopharma in the 1st quarter valued at $187,000. Institutional investors own 75.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CBIO. HC Wainwright reissued a “neutral” rating on shares of Crescent Biopharma in a research note on Thursday, July 16th. Weiss Ratings raised Crescent Biopharma from a “sell (e)” rating to a “sell (d-)” rating in a research note on Wednesday, May 13th. One equities research analyst has 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 company’s stock. According to MarketBeat, Crescent Biopharma presently has an average rating of “Moderate Buy” and an average price target of $29.40.

Crescent Biopharma Stock Performance

Shares of CBIO stock opened at $16.93 on Tuesday. The firm’s 50 day moving average price is $17.73 and its two-hundred day moving average price is $15.72. Crescent Biopharma, Inc. has a 52-week low of $8.72 and a 52-week high of $27.41. The stock has a market cap of $466.54 million, a PE ratio of -1.55 and a beta of 1.20.

Crescent Biopharma (NASDAQ:CBIO) last issued 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 business had revenue of $1.04 million for the quarter, compared to the consensus estimate of $0.36 million. As a group, sell-side analysts predict that Crescent Biopharma, Inc. will post -3.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Crescent Biopharma news, CEO Joshua T. Brumm sold 42,305 shares of the stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $17.99, for a total value of $761,066.95. Following the transaction, the chief executive officer owned 281,212 shares of the company’s stock, valued at approximately $5,059,003.88. This represents a 13.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 20,549 shares of the firm’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $17.99, for a total value of $369,676.51. Following the transaction, the chief operating officer owned 139,158 shares in the company, valued at approximately $2,503,452.42. This trade represents a 12.87% decrease in their position. 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 ninety days, insiders have sold 68,156 shares of company stock valued at $1,226,126. 24.84% of the stock is owned by insiders.

Crescent Biopharma 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-β), with the goal of restoring T-cell activity and reducing tumor fibrosis.