Crescent Biopharma (NASDAQ:CBIO) Insider Barbara Harlin Bispham Sells 1,218 Shares of Stock

Crescent Biopharma, Inc. (NASDAQ:CBIO) insider Barbara Harlin Bispham sold 1,218 shares of the stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $17.99, for a total transaction of $21,911.82. Following the sale, the insider directly owned 19,330 shares of the company’s stock, valued at $347,746.70. This represents a 5.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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.

Crescent Biopharma Stock Down 0.4%

Shares of NASDAQ:CBIO traded down $0.07 during midday trading on Tuesday, reaching $17.50. 227,100 shares of the company were exchanged, compared to its average volume of 235,713. The firm has a market cap of $482.30 million, a PE ratio of -1.60 and a beta of 1.17. Crescent Biopharma, Inc. has a fifty-two week low of $8.72 and a fifty-two week high of $27.41. The stock has a fifty day simple moving average of $19.83 and a two-hundred day simple moving average of $15.01.

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CBIO. Bank of America Corp DE bought a new stake in shares of Crescent Biopharma during the 2nd quarter worth approximately $149,000. Cannon Global Investment Management LLC bought a new position in shares of Crescent Biopharma in the first quarter valued at $187,000. OMERS ADMINISTRATION Corp bought a new position in shares of Crescent Biopharma in the fourth quarter valued at $138,000. HRT Financial LP acquired a new position in Crescent Biopharma during the fourth quarter worth $155,000. Finally, Quadrature Capital Ltd acquired a new position in Crescent Biopharma during the fourth quarter worth $157,000. 75.19% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

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.