Jonathan Mcneill Sells 20,549 Shares of Crescent Biopharma (NASDAQ:CBIO) Stock

Crescent Biopharma, Inc. (NASDAQ:CBIO) COO Jonathan Mcneill sold 20,549 shares of Crescent Biopharma stock in a transaction that occurred on Monday, June 22nd. The shares were 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 in the company, valued at approximately $2,503,452.42. The trade was a 12.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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.

Crescent Biopharma Stock Performance

CBIO opened at $17.36 on Thursday. The stock has a market capitalization of $478.44 million, a PE ratio of -1.59 and a beta of 1.16. Crescent Biopharma, Inc. has a one year low of $8.72 and a one year high of $27.41. The business’s 50 day moving average price is $19.81 and its 200 day moving average price is $15.07.

Crescent Biopharma (NASDAQ:CBIO) last posted its earnings results on Wednesday, April 29th. The biopharmaceutical company reported ($0.70) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.85) by $0.15. The business had revenue of $1.04 million for the quarter, compared to analyst estimates of $0.36 million. As a group, equities research analysts forecast that Crescent Biopharma, Inc. will post -3.25 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on CBIO shares. HC Wainwright reduced their price objective on shares of Crescent Biopharma from $25.00 to $22.00 and set a “buy” rating on the stock in a report on Monday, March 2nd. Stifel Nicolaus set a $29.00 target price on shares of Crescent Biopharma in a research note on Thursday, February 26th. Wall Street Zen upgraded shares of Crescent Biopharma from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Finally, Weiss Ratings raised shares of Crescent Biopharma from a “sell (e)” rating to a “sell (d-)” rating in a research note on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $29.00.

Institutional Investors Weigh In On Crescent Biopharma

A number of institutional investors have recently modified their holdings of the company. OMERS ADMINISTRATION Corp purchased a new stake in shares of Crescent Biopharma in the 4th quarter valued at $138,000. Bank of America Corp DE purchased a new position in Crescent Biopharma during the 2nd quarter valued at about $149,000. HRT Financial LP acquired a new position in Crescent Biopharma in the 4th quarter valued at about $155,000. Quadrature Capital Ltd acquired a new position in Crescent Biopharma in the 4th quarter valued at about $157,000. Finally, Cannon Global Investment Management LLC acquired a new position in Crescent Biopharma in the 1st quarter valued at about $187,000. 75.19% of the stock is owned by institutional investors and hedge funds.

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.