Crescent Biopharma (NASDAQ:CBIO) Insider Sells 620 Shares

Crescent Biopharma, Inc. (NASDAQ:CBIO) insider Barbara Bispham sold 620 shares of the company’s stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $17.90, for a total transaction of $11,098.00. Following the completion of the sale, the insider directly owned 18,710 shares of the company’s stock, valued at $334,909. The trade was a 3.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible 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.

Barbara Harlin Bispham also recently made the following trade(s):

• On Monday, June 22nd, Barbara Bispham sold 1,218 shares of Crescent Biopharma stock. The stock was sold at an average price of $17.99, for a total value of $21,911.82.

Crescent Biopharma Stock Up 0.7%

Shares of NASDAQ CBIO traded up $0.12 during mid-day trading on Friday, hitting $16.89. 3,123,507 shares of the company were exchanged, compared to its average volume of 294,314. 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 1-year low of $8.72 and a 1-year high of $27.41. The firm has a market cap of $627.36 million, a price-to-earnings ratio of -2.51 and a beta of 1.24.

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

Hedge Funds Weigh In On Crescent Biopharma

A number of large investors have recently made changes to their positions in the stock. Legal & General Group Plc acquired a new stake in shares of Crescent Biopharma in the second quarter valued at about $38,000. OMERS ADMINISTRATION Corp boosted its holdings in Crescent Biopharma by 53.4% during the first quarter. OMERS ADMINISTRATION Corp now owns 17,800 shares of the biopharmaceutical company’s stock worth $327,000 after buying an additional 6,200 shares in the last quarter. Opaleye Management Inc. grew its position in Crescent Biopharma by 0.5% during the second quarter. Opaleye Management Inc. now owns 1,319,351 shares of the biopharmaceutical company’s stock worth $23,748,000 after buying an additional 6,736 shares during the period. Cannon Global Investment Management LLC acquired a new position in Crescent Biopharma during the first quarter worth about $187,000. Finally, Persistent Asset Partners Ltd purchased a new position in Crescent Biopharma in the second quarter valued at about $197,000. Hedge funds and other institutional investors own 75.19% of the company’s stock.

Crescent Biopharma News Summary

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

CBIO has been the subject of a number of recent analyst reports. Wedbush restated an “outperform” rating and issued a $27.00 price objective on shares of Crescent Biopharma in a research report on Monday. TD Cowen upgraded Crescent Biopharma to a “strong-buy” rating in a research report on Monday, August 24th. HC Wainwright reissued a “neutral” rating on shares of Crescent Biopharma in a research note on Thursday, July 16th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Crescent Biopharma in a report on Friday, August 7th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Crescent Biopharma has a consensus rating of “Moderate Buy” and a consensus target price of $29.60.

About Crescent Biopharma

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.