Crescent Biopharma (NASDAQ:CBIO) Announces Earnings Results, Misses Estimates By $0.20 EPS

Crescent Biopharma (NASDAQ:CBIO) issued its quarterly earnings results on Thursday. The biopharmaceutical company reported ($0.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.20), FiscalAI reports. The company had revenue of $3.12 million during the quarter, compared to analysts’ expectations of $0.62 million.

Crescent Biopharma Stock Performance

Shares of CBIO stock traded down $0.39 on Thursday, reaching $14.37. 209,892 shares of the company’s stock traded hands, compared to its average volume of 295,962. Crescent Biopharma has a 12-month low of $8.72 and a 12-month high of $27.41. The company has a market capitalization of $533.76 million, a P/E ratio of -2.14 and a beta of 1.40. The business’s 50 day moving average price is $15.01 and its two-hundred day moving average price is $15.85.

Insider Buying and Selling at Crescent Biopharma

In other Crescent Biopharma news, COO Jonathan McNeill sold 3,839 shares of Crescent Biopharma stock in a transaction dated Friday, September 18th. The stock was sold at an average price of $16.71, for a total transaction of $64,149.69. Following the transaction, the chief operating officer owned 134,588 shares of the company’s stock, valued at $2,248,965.48. The trade was a 2.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available 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, CEO Joshua T. Brumm sold 7,837 shares of Crescent Biopharma stock in a transaction dated Friday, September 18th. The shares were sold at an average price of $16.71, for a total value of $130,956.27. Following the transaction, 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 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. Insiders have sold 16,726 shares of company stock worth $285,501 over the last three months. 24.84% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

CBIO has been the subject of a number of analyst reports. UBS Group reaffirmed a “buy” rating and set a $36.00 price objective on shares of Crescent Biopharma in a research note on Monday, October 19th. 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 Wednesday, November 4th. HC Wainwright restated a “buy” rating and issued a $36.00 price target on shares of Crescent Biopharma in a research report on Monday, October 19th. Finally, Wedbush restated an “outperform” rating and issued a $27.00 price target on shares of Crescent Biopharma in a research report on Monday, September 14th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $33.00.

Crescent Biopharma Company Profile

Crescent Biopharma is a clinical-stage biotechnology company focused on developing medicines for cancer. Its research centers on antibody-based treatments, including therapies designed to target tumor cells and support the body’s immune response. The company’s work is directed toward advancing oncology drug candidates through clinical development. Its pipeline and programs may change as research progresses, and its products are investigational rather than established treatments. Crescent Biopharma is focused on developing its therapies for cancer patients; detailed information about its geographic operations and leadership is not included here.