Crescent Biopharma, Inc. (NASDAQ:CBIO) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• Analysts rate Crescent Biopharma “Moderate Buy.” Among five analysts, two recommend buying, one strongly recommends buying, one rates the stock a hold, and one rates it a sell; the average 12-month price target is $29.40.
• CBIO opened at $16.23, near its 50-day and 200-day moving averages, with a market capitalization of approximately $602.8 million. The company matched quarterly expectations with a loss of $0.74 per share, while analysts forecast a full-year loss of $2.91 per share.
• Insiders sold 68,156 shares worth roughly $1.23 million during the past 90 days under pre-arranged plans to cover tax obligations, while institutional investors own 75.19% of the stock.

Shares of Crescent Biopharma, Inc. (NASDAQ:CBIO - Get Free Report) have been assigned an average rating of "Moderate Buy" from the five analysts that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $29.40.

CBIO has been the topic of a number of research analyst reports. HC Wainwright reiterated a "neutral" rating on shares of Crescent Biopharma in a research note on Thursday, July 16th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Crescent Biopharma in a research report on Friday, August 7th.

Crescent Biopharma Price Performance

NASDAQ CBIO opened at $16.23 on Friday. The business has a 50 day simple moving average of $16.70 and a 200 day simple moving average of $16.27. The stock has a market capitalization of $602.78 million, a P/E ratio of -2.42 and a beta of 1.23. Crescent Biopharma has a one year low of $8.72 and a one year high of $27.41.

Crescent Biopharma (NASDAQ:CBIO - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported ($0.74) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.74). Equities analysts expect that Crescent Biopharma will post -2.91 earnings per share for the current year.

Insider Transactions at Crescent Biopharma

In related news, 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 transaction of $369,676.51. Following the sale, the chief operating officer directly owned 139,158 shares of the company's stock, valued at approximately $2,503,452.42. This represents a 12.87% decrease in their position. The sale was disclosed in a document filed with the SEC, 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. Also, CEO Joshua T. Brumm sold 42,305 shares of Crescent Biopharma 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 sale, the chief executive officer owned 281,212 shares of the company's stock, valued at $5,059,003.88. The trade was a 13.08% 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. In the last 90 days, insiders have sold 68,156 shares of company stock worth $1,226,126. 24.84% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in CBIO. Legal & General Group Plc bought a new position in Crescent Biopharma during the second quarter valued at approximately $38,000. OMERS ADMINISTRATION Corp acquired a new stake in shares of Crescent Biopharma during the fourth quarter worth $138,000. Bank of America Corp DE acquired a new stake in Crescent Biopharma during the 2nd quarter valued at approximately $149,000. HRT Financial LP purchased a new position in shares of Crescent Biopharma during the 4th quarter valued at approximately $155,000. Finally, Quadrature Capital Ltd purchased a new stake in shares of Crescent Biopharma in the fourth quarter valued at approximately $157,000. Institutional investors own 75.19% of the company's stock.

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.

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