Crescent Biopharma (NASDAQ:CBIO) COO Jonathan Mcneill Sells 20,549 Shares

Crescent Biopharma, Inc. (NASDAQ:CBIO) COO Jonathan Mcneill sold 20,549 shares of Crescent Biopharma stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $17.99, for a total value of $369,676.51. Following the completion of the sale, the chief operating officer owned 139,158 shares of the company’s stock, valued at $2,503,452.42. This trade represents a 12.87% decrease in their position. The transaction was disclosed in a document filed 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

NASDAQ CBIO opened at $17.50 on Wednesday. Crescent Biopharma, Inc. has a 12 month low of $8.72 and a 12 month high of $27.41. The company has a 50-day moving average of $19.82 and a 200-day moving average of $15.03. The company has a market cap of $482.30 million, a P/E ratio of -1.60 and a beta of 1.16.

Crescent Biopharma (NASDAQ:CBIO) last announced its quarterly earnings data on Wednesday, April 29th. The biopharmaceutical company reported ($0.70) earnings per share for the quarter, topping 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. As a group, equities research analysts anticipate that Crescent Biopharma, Inc. will post -3.25 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CBIO. OMERS ADMINISTRATION Corp purchased a new stake in Crescent Biopharma during the fourth quarter worth approximately $138,000. Bank of America Corp DE purchased a new position in shares of Crescent Biopharma in the 2nd quarter valued at $149,000. HRT Financial LP purchased a new position in shares of Crescent Biopharma in the 4th quarter valued at $155,000. Quadrature Capital Ltd acquired a new position in shares of Crescent Biopharma during the 4th quarter valued at $157,000. Finally, Cannon Global Investment Management LLC acquired a new position in shares of Crescent Biopharma during the 1st quarter valued at $187,000. Hedge funds and other institutional investors own 75.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Weiss Ratings upgraded shares of Crescent Biopharma from a “sell (e)” rating to a “sell (d-)” rating in a report on Wednesday, May 13th. HC Wainwright dropped their price objective on Crescent Biopharma from $25.00 to $22.00 and set a “buy” rating for the company in a report on Monday, March 2nd. Stifel Nicolaus set a $29.00 target price on Crescent Biopharma in a research report on Thursday, February 26th. Finally, Wall Street Zen upgraded Crescent Biopharma from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus 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-β), with the goal of restoring T-cell activity and reducing tumor fibrosis.