Crescent Biopharma (CBIO) Expected to Post Quarterly Earnings on Thursday

Key Points

• Crescent Biopharma is expected to report quarterly results after the market closes on Thursday, July 30, with analysts forecasting a loss of $0.70 per share on revenue of $0.357 million.
• The company’s last earnings report beat expectations, posting a loss of $0.70 per share versus estimates of $0.85 and revenue of $1.04 million versus a $0.36 million consensus.
• Recent activity has been mixed: the stock is down 4.9%, while analysts currently rate it Moderate Buy with a $29.40 average target price and insiders have recently sold shares under pre-arranged trading plans.

Crescent Biopharma (NASDAQ:CBIO - Get Free Report) is anticipated to post its results after the market closes on Thursday, July 30th. Analysts expect the company to announce earnings of ($0.70) per share and revenue of $0.3570 million for the quarter.

Crescent Biopharma (NASDAQ:CBIO - Get Free Report) last released its earnings results on Wednesday, April 29th. The biopharmaceutical company reported ($0.70) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.85) by $0.15. The business had revenue of $1.04 million during the quarter, compared to the consensus estimate of $0.36 million. On average, analysts expect Crescent Biopharma to post $-3 EPS for the current fiscal year and $-3 EPS for the next fiscal year.

Crescent Biopharma Trading Down 4.9%

Shares of NASDAQ CBIO opened at $15.83 on Thursday. The company has a market cap of $436.27 million, a price-to-earnings ratio of -1.45 and a beta of 1.20. Crescent Biopharma has a 12 month low of $8.72 and a 12 month high of $27.41. The stock has a 50-day moving average price of $17.92 and a two-hundred day moving average price of $15.60.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Weiss Ratings raised shares of Crescent Biopharma from a "sell (e)" rating to a "sell (d-)" rating in a report on Wednesday, May 13th. HC Wainwright reissued a "neutral" rating on shares of Crescent Biopharma in a research note on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $29.40.

Insiders Place Their Bets

In other Crescent Biopharma news, CEO Joshua T. Brumm sold 42,305 shares of the company's stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $17.99, for a total value of $761,066.95. Following the completion of the transaction, the chief executive officer owned 281,212 shares of the company's stock, valued at $5,059,003.88. This represents a 13.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 20,549 shares of the stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $17.99, for a total value of $369,676.51. Following the completion of the transaction, the chief operating officer owned 139,158 shares of the company's stock, valued at $2,503,452.42. This represents a 12.87% decrease in their ownership of the stock. 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 a total of 68,156 shares of company stock worth $1,226,126 in the last 90 days. 24.84% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Crescent Biopharma

Several hedge funds have recently added to or reduced their stakes in the business. Vestal Point Capital LP bought a new stake in Crescent Biopharma during the 4th quarter worth approximately $17,790,000. Opaleye Management Inc. bought a new position in shares of Crescent Biopharma during the fourth quarter valued at $13,975,000. Tang Capital Management LLC lifted its holdings in shares of Crescent Biopharma by 28.3% during the fourth quarter. Tang Capital Management LLC now owns 872,398 shares of the biopharmaceutical company's stock worth $10,347,000 after purchasing an additional 192,574 shares during the period. Vanguard Group Inc. acquired a new position in shares of Crescent Biopharma during the third quarter worth $7,822,000. Finally, ADAR1 Capital Management LLC bought a new stake in shares of Crescent Biopharma in the fourth quarter worth $7,187,000. 75.19% of the stock is currently owned by institutional investors and hedge funds.

About Crescent Biopharma

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.

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