Crescent Biopharma (NASDAQ:CBIO) Issues Earnings Results, Misses Estimates By $0.04 EPS

Key Points

• Crescent Biopharma reported quarterly EPS of ($0.74), missing the consensus estimate of ($0.70) by $0.04.
• Shares traded around $15.02, while analysts maintained a “Moderate Buy” consensus rating with an average price target of $29.40.
• Insiders sold 68,156 shares worth approximately $1.23 million over the past three months, while institutional investors own 75.19% of the company.

Crescent Biopharma (NASDAQ:CBIO - Get Free Report) announced its quarterly earnings data on Thursday. The biopharmaceutical company reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.70) by ($0.04), FiscalAI reports.

Crescent Biopharma Stock Performance

Shares of Crescent Biopharma stock traded up $0.25 during midday trading on Thursday, hitting $15.02. 282,828 shares of the company traded hands, compared to its average volume of 280,067. The firm's fifty day moving average price is $17.61 and its 200-day moving average price is $15.78. The stock has a market cap of $413.95 million, a price-to-earnings ratio of -1.38 and a beta of 1.20. Crescent Biopharma has a 12 month low of $8.72 and a 12 month high of $27.41.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. HC Wainwright reaffirmed a "neutral" rating on shares of Crescent Biopharma in a report on Thursday, July 16th. Weiss Ratings upgraded Crescent Biopharma from a "sell (e)" rating to a "sell (d-)" rating in a research report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $29.40.

Insider Activity at Crescent Biopharma

In other Crescent Biopharma news, CEO Joshua T. Brumm sold 42,305 shares of the business's stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $17.99, for a total transaction of $761,066.95. Following the sale, the chief executive officer owned 281,212 shares of the company's stock, valued at approximately $5,059,003.88. The trade was a 13.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed 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. Also, COO Jonathan Mcneill sold 20,549 shares of the company's stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $17.99, for a total transaction of $369,676.51. Following the transaction, the chief operating officer owned 139,158 shares of the company's stock, valued at $2,503,452.42. This trade represents a 12.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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 three months, insiders sold 68,156 shares of company stock valued at $1,226,126. 24.84% of the stock is owned by insiders.

Institutional Investors Weigh In On Crescent Biopharma

Hedge funds and other institutional investors have recently bought and sold shares of the company. OMERS ADMINISTRATION Corp bought a new position in Crescent Biopharma in the fourth quarter valued at about $138,000. Bank of America Corp DE bought a new stake in shares of Crescent Biopharma during the second quarter worth about $149,000. HRT Financial LP bought a new stake in shares of Crescent Biopharma during the fourth quarter worth about $155,000. Quadrature Capital Ltd acquired a new position in shares of Crescent Biopharma in the fourth quarter valued at approximately $157,000. Finally, Jane Street Group LLC acquired a new position in shares of Crescent Biopharma in the fourth quarter valued at approximately $272,000. Institutional investors own 75.19% of the company's stock.

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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