Crescent Biopharma (NASDAQ:CBIO) Shares Down 5.1% – Should You Sell?

Crescent Biopharma, Inc. (NASDAQ:CBIO)’s share price fell 5.1% on Monday . The company traded as low as $16.93 and last traded at $16.8460. Approximately 13,978 shares were traded during trading, a decline of 95% from the average session volume of 265,922 shares. The stock had previously closed at $17.75.

Analysts Set New Price Targets

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

Crescent Biopharma Stock Performance

The firm has a market capitalization of $665.92 million, a PE ratio of -2.67 and a beta of 1.24. The stock’s 50-day simple moving average is $16.63 and its 200-day simple moving average is $16.71.

Crescent Biopharma (NASDAQ:CBIO) last posted its earnings results on Thursday, July 30th. The biopharmaceutical company reported ($0.74) EPS for the quarter, hitting the consensus estimate of ($0.74). As a group, analysts predict that Crescent Biopharma, Inc. will post -2.91 earnings per share for the current fiscal year.

Insider Transactions at Crescent Biopharma

In other Crescent Biopharma news, COO Jonathan Mcneill sold 20,549 shares of Crescent Biopharma stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $17.99, for a total transaction of $369,676.51. Following the sale, the chief operating officer directly owned 139,158 shares of the company’s stock, valued at approximately $2,503,452.42. The trade was a 12.87% decrease in their position. The transaction 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, CEO Joshua T. Brumm sold 42,305 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer owned 281,212 shares in the company, valued at $5,059,003.88. This trade represents a 13.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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 68,156 shares of company stock valued at $1,226,126. 24.84% of the stock is owned by insiders.

Institutional Investors Weigh In On Crescent Biopharma

Several hedge funds have recently made changes to their positions in CBIO. Legal & General Group Plc purchased a new stake in Crescent Biopharma in the second quarter worth $38,000. California State Teachers Retirement System purchased a new position in Crescent Biopharma during the second quarter valued at $96,000. OMERS ADMINISTRATION Corp lifted its position in Crescent Biopharma by 53.4% during the first quarter. OMERS ADMINISTRATION Corp now owns 17,800 shares of the biopharmaceutical company’s stock valued at $327,000 after buying an additional 6,200 shares during the period. State Street Corp boosted its holdings in shares of Crescent Biopharma by 40.8% during the 4th quarter. State Street Corp now owns 26,217 shares of the biopharmaceutical company’s stock valued at $311,000 after buying an additional 7,600 shares in the last quarter. Finally, Bank of America Corp DE bought a new stake in shares of Crescent Biopharma during the 2nd quarter valued at $149,000. 75.19% of the stock is currently owned by 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.