Crescent Biopharma (CBIO) Projected to Release Earnings on Thursday

Crescent Biopharma (NASDAQ:CBIO) is expected to be releasing its results before the market opens on Thursday, November 5th. Analysts expect the company to announce earnings of ($0.6739) per share and revenue of $0.36 million for the quarter.

Crescent Biopharma Trading Up 1.2%

NASDAQ CBIO opened at $13.06 on Wednesday. The firm’s 50 day simple moving average is $15.46 and its 200 day simple moving average is $15.84. Crescent Biopharma has a 1 year low of $8.72 and a 1 year high of $27.41.

Wall Street Analyst Weigh In

Several brokerages have commented on CBIO. UBS Group restated a “buy” rating and set a $36.00 price objective on shares of Crescent Biopharma in a research report on Monday, October 19th. Weiss Ratings restated a “sell (d-)” rating on shares of Crescent Biopharma in a research note on Friday, August 7th. HC Wainwright reaffirmed a “buy” rating and issued a $36.00 target price on shares of Crescent Biopharma in a report on Monday, October 19th. TD Cowen upgraded Crescent Biopharma to a “strong-buy” rating in a research note on Monday, August 24th. Finally, Wedbush reiterated an “outperform” rating and issued a $27.00 price target on shares of Crescent Biopharma in a research note on Monday, September 14th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Crescent Biopharma currently has a consensus rating of “Buy” and an average target price of $33.00.

Insider Activity

In other news, CEO Joshua T. Brumm sold 7,837 shares of the firm’s stock in a transaction that occurred on Friday, September 18th. The shares were sold at an average price of $16.71, for a total value of $130,956.27. Following the sale, the chief executive officer directly owned 271,765 shares in the company, valued at approximately $4,541,193.15. This trade represents a 2.80% decrease in their position. The transaction was disclosed in a document filed 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. Also, COO Jonathan McNeill sold 3,839 shares of the firm’s stock in a transaction that occurred on Friday, September 18th. The shares were sold at an average price of $16.71, for a total transaction of $64,149.69. Following the completion of the sale, the chief operating officer owned 134,588 shares in the company, valued at approximately $2,248,965.48. The trade was a 2.77% decrease in their ownership of the stock. 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. In the last three months, insiders have sold 16,726 shares of company stock valued at $285,501. Insiders own 24.84% of the company’s stock.

About Crescent Biopharma

Crescent Biopharma, Inc operates as a biopharmaceutical company that develops and designs small molecule therapeutics to treat cancers. The company was founded on September 19, 2024 and is headquartered in Waltham, MA.