Crescent Biopharma, Inc. (NASDAQ:CBIO - Get Free Report)'s share price was up 4.9% on Monday . The company traded as high as $17.71 and last traded at $17.44. 6,450 shares changed hands during mid-day trading, a decline of 98% from the average session volume of 274,335 shares. The stock had previously closed at $16.63.
Analyst Ratings Changes
A number of brokerages have weighed in on CBIO. HC Wainwright restated a "neutral" rating on shares of Crescent Biopharma in a report on Thursday, July 16th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Crescent Biopharma in a research report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $29.40.
View Our Latest Analysis on CBIO
Crescent Biopharma Stock Up 3.4%
The firm has a market capitalization of $658.49 million, a price-to-earnings ratio of -2.64 and a beta of 1.23. The company has a fifty day moving average price of $16.77 and a two-hundred day moving average price of $16.09.
Crescent Biopharma (NASDAQ:CBIO - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported ($0.74) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.74). On average, equities analysts anticipate that Crescent Biopharma, Inc. will post -2.91 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other news, COO Jonathan Mcneill sold 20,549 shares of the business's stock in a transaction that occurred 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 sale, the chief operating officer owned 139,158 shares of the company's stock, valued at $2,503,452.42. The trade was a 12.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 the company's stock in a transaction on Monday, June 22nd. The shares were 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 directly owned 281,212 shares in the company, valued at $5,059,003.88. This trade represents a 13.08% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 68,156 shares of company stock worth $1,226,126 in the last ninety days. 24.84% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the company. Legal & General Group Plc acquired a new position in shares of Crescent Biopharma in the second quarter valued at approximately $38,000. OMERS ADMINISTRATION Corp purchased a new stake in shares of Crescent Biopharma in the fourth quarter valued at $138,000. Bank of America Corp DE purchased a new position in Crescent Biopharma during the second quarter worth about $149,000. HRT Financial LP purchased a new stake in Crescent Biopharma in the 4th quarter valued at about $155,000. Finally, Quadrature Capital Ltd acquired a new position in shares of Crescent Biopharma during the 4th quarter valued at about $157,000. Institutional investors and hedge funds own 75.19% of the company's stock.
About Crescent Biopharma
(
Get Free Report)
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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