Crescent Biopharma (NASDAQ:CBIO) COO Jonathan Mcneill Sells 731 Shares of Stock

Crescent Biopharma, Inc. (NASDAQ:CBIO) COO Jonathan McNeill sold 731 shares of the firm’s stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $17.90, for a total transaction of $13,084.90. Following the completion of the sale, the chief operating officer directly owned 138,427 shares in the company, valued at $2,477,843.30. This represents a 0.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at 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.

Jonathan Mcneill also recently made the following trade(s):

• On Friday, September 18th, Jonathan McNeill sold 3,839 shares of Crescent Biopharma stock. The stock was sold at an average price of $16.71, for a total transaction of $64,149.69.
• On Monday, June 22nd, Jonathan McNeill sold 20,549 shares of Crescent Biopharma stock. The stock was sold at an average price of $17.99, for a total transaction of $369,676.51.

Crescent Biopharma Price Performance

NASDAQ:CBIO traded up $0.12 during trading hours on Friday, reaching $16.89. 3,123,507 shares of the company were exchanged, compared to its average volume of 294,314. The firm has a market cap of $627.36 million, a price-to-earnings ratio of -2.51 and a beta of 1.24. The stock has a 50 day simple moving average of $17.12 and a 200 day simple moving average of $17.43. Crescent Biopharma, Inc. has a 52-week low of $8.72 and a 52-week high of $27.41.

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

Key Crescent Biopharma News

Here are the key news stories impacting Crescent Biopharma this week:

• Neutral Sentiment: CEO Joshua Brumm, COO Jonathan McNeill, CFO Richard Scalzo, and other insiders collectively sold 16,726 shares worth approximately $285,501 between September 16 and September 18. The sales reduced individual holdings by roughly 0.5% to 3.2%, but insiders continued to retain meaningful positions. SEC insider transaction filing
• Neutral Sentiment: All reported transactions were executed under pre-arranged Rule 10b5-1 trading plans and were described as sales to cover tax-withholding obligations tied to vested equity awards. That reduces the likelihood that the transactions represent a change in management’s outlook, although the aggregate selling may still weigh modestly on sentiment. SEC insider transaction filing
• Negative Sentiment: The concentration of sales by senior executives—including the CEO and COO—could be viewed as a near-term supply or sentiment overhang. However, the relatively small percentage reductions and tax-related rationale make this a limited negative signal rather than a clear indication of weakening business prospects. SEC insider transaction filing

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Crescent Biopharma

A number of hedge funds have recently bought and sold shares of the business. BVF Inc. IL raised its position in shares of Crescent Biopharma by 98.1% in 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. Opaleye Management Inc. boosted its stake in shares of Crescent Biopharma by 0.5% during the 2nd quarter. Opaleye Management Inc. now owns 1,319,351 shares of the biopharmaceutical company’s stock valued at $23,748,000 after buying an additional 6,736 shares during the last quarter. BlackRock Inc. acquired a new stake in shares of Crescent Biopharma during the second quarter worth approximately $22,892,000. Fcpm Iii Services B.V. acquired a new stake in shares of Crescent Biopharma during the fourth quarter worth approximately $19,899,000. Finally, NEXTBio Capital Management LP bought a new stake in shares of Crescent Biopharma in the fourth quarter worth $4,422,000. Institutional investors and hedge funds own 75.19% of the company’s stock.

Crescent Biopharma Company Profile

Crescent Biopharma, Inc (NASDAQ: CBIO) is a biopharmaceutical company focused on discovering and developing innovative therapies for the treatment of serious diseases. The company’s activities center on research, preclinical development and clinical evaluation of investigational drug candidates.

Crescent Biopharma does not appear to have commercially marketed products. Its pipeline consists of experimental therapies intended to address significant unmet medical needs, although detailed information about specific candidates, therapeutic areas and development stages may be limited in publicly available sources.

The company is headquartered in the United States and serves the biopharmaceutical market through its drug-development programs and potential future partnerships.