Crescent Biopharma (NASDAQ:CBIO) Trading 4.8% Higher – Should You Buy?

Shares of Crescent Biopharma, Inc. (NASDAQ:CBIO) were up 4.8% on Tuesday . The company traded as high as $17.15 and last traded at $17.39. 39,225 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 265,457 shares. The stock had previously closed at $16.60.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on CBIO shares. HC Wainwright reiterated a “neutral” rating on shares of Crescent Biopharma in a report on Thursday, July 16th. TD Cowen raised shares of Crescent Biopharma to a “strong-buy” rating in a research report on Monday, August 24th. Weiss Ratings restated a “sell (d-)” rating on shares of Crescent Biopharma in a report on Friday, August 7th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $27.00 price objective on shares of Crescent Biopharma in a research report on Thursday, August 27th. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $29.60.

Crescent Biopharma Stock Up 8.5%

The company has a market cap of $668.89 million, a P/E ratio of -2.68 and a beta of 1.23. The company’s 50-day moving average is $16.62 and its two-hundred day moving average is $16.65.

Crescent Biopharma (NASDAQ:CBIO) last announced its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported ($0.74) EPS for the quarter, hitting the consensus estimate of ($0.74). On average, analysts anticipate that Crescent Biopharma, Inc. will post -2.91 EPS for the current fiscal year.

Insider Buying and Selling at Crescent Biopharma

In other news, CEO Joshua T. Brumm sold 42,305 shares of the firm’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $17.99, for a total value of $761,066.95. Following the completion of the transaction, the chief executive officer directly owned 281,212 shares of the company’s stock, valued at $5,059,003.88. This trade represents a 13.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 Crescent Biopharma stock in a transaction on 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 transaction, the chief operating officer owned 139,158 shares of the company’s stock, valued at approximately $2,503,452.42. This trade represents a 12.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. In the last 90 days, insiders have sold 68,156 shares of company stock worth $1,226,126. Company insiders own 24.84% of the company’s stock.

Institutional Investors Weigh In On Crescent Biopharma

Institutional investors and hedge funds have recently modified their holdings of the company. Fcpm Iii Services B.V. bought a new stake in Crescent Biopharma during the 4th quarter worth approximately $19,899,000. Vestal Point Capital LP bought a new position in Crescent Biopharma in the 4th quarter valued at $17,790,000. BVF Inc. IL grew its position in shares of Crescent Biopharma by 98.1% during the 4th quarter. BVF Inc. IL now owns 2,748,763 shares of the biopharmaceutical company’s stock valued at $32,600,000 after purchasing an additional 1,360,900 shares in the last quarter. BlackRock Inc. bought a new position in shares of Crescent Biopharma in the second quarter worth $22,892,000. Finally, Opaleye Management Inc. bought a new position in shares of Crescent Biopharma in the fourth quarter worth $13,975,000. 75.19% of the stock is owned by hedge funds and other institutional investors.

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.