Richard William Scalzo Sells 568 Shares of Crescent Biopharma (NASDAQ:CBIO) Stock

Key Points

• CFO Richard Scalzo sold 568 Crescent Biopharma shares for $10,167.20 at an average price of $17.90, reducing his ownership by 2.8% to 19,730 shares.
• The sale was made under a pre-arranged Rule 10b5-1 plan to cover tax withholding tied to vested equity awards, making it less indicative of a change in management’s outlook.
• CBIO recently traded at $16.89, while analysts maintain a consensus “Moderate Buy” rating with an average price target of $29.60; the company reported a quarterly loss of $0.74 per share.

Crescent Biopharma, Inc. (NASDAQ:CBIO - Get Free Report) CFO Richard Scalzo sold 568 shares of Crescent Biopharma stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $17.90, for a total value of $10,167.20. Following the completion of the sale, the chief financial officer owned 19,730 shares of the company's stock, valued at approximately $353,167. The trade was a 2.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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.

Richard William Scalzo also recently made the following trade(s):

• On Monday, June 22nd, Richard Scalzo sold 1,112 shares of Crescent Biopharma stock. The shares were sold at an average price of $17.99, for a total transaction of $20,004.88.

Crescent Biopharma Stock Performance

Crescent Biopharma stock traded up $0.12 during trading hours on Friday, reaching $16.89. 3,123,507 shares of the company's stock traded hands, compared to its average volume of 294,314. The firm has a market capitalization of $627.36 million, a price-to-earnings ratio of -2.51 and a beta of 1.24. Crescent Biopharma, Inc. has a fifty-two week low of $8.72 and a fifty-two week high of $27.41. The firm's 50 day moving average is $17.12 and its 200-day moving average is $17.43.

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

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CBIO. Weiss Ratings reissued a "sell (d-)" rating on shares of Crescent Biopharma in a research note on Friday, August 7th. HC Wainwright reiterated a "neutral" rating on shares of Crescent Biopharma in a report on Thursday, July 16th. Wedbush reissued an "outperform" rating and issued a $27.00 target price on shares of Crescent Biopharma in a research note on Monday. Finally, TD Cowen upgraded Crescent Biopharma to a "strong-buy" rating in a report on Monday, August 24th. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $29.60.

More Crescent Biopharma News

Here are the key news stories impacting Crescent Biopharma this week:

• Neutral Sentiment: CEO Joshua Brumm, COO Jonathan McNeill, CFO Richard Scalzo, and other insiders collectively sold 16,726 shares worth approximately $285,501 between September 16 and September 18. The sales reduced individual holdings by roughly 0.5% to 3.2%, but insiders continued to retain meaningful positions. SEC insider transaction filing
• Neutral Sentiment: All reported transactions were executed under pre-arranged Rule 10b5-1 trading plans and were described as sales to cover tax-withholding obligations tied to vested equity awards. That reduces the likelihood that the transactions represent a change in management’s outlook, although the aggregate selling may still weigh modestly on sentiment. SEC insider transaction filing
• Negative Sentiment: The concentration of sales by senior executives—including the CEO and COO—could be viewed as a near-term supply or sentiment overhang. However, the relatively small percentage reductions and tax-related rationale make this a limited negative signal rather than a clear indication of weakening business prospects. SEC insider transaction filing

Institutional Trading of Crescent Biopharma

Several hedge funds have recently added to or reduced their stakes in the business. Opaleye Management Inc. lifted its holdings in Crescent Biopharma by 0.5% during the second quarter. Opaleye Management Inc. now owns 1,319,351 shares of the biopharmaceutical company's stock worth $23,748,000 after acquiring an additional 6,736 shares in the last quarter. Squarepoint Ops LLC bought a new stake in shares of Crescent Biopharma in the second quarter worth about $435,000. Wellington Management Group LLP bought a new stake in shares of Crescent Biopharma in the second quarter worth about $263,000. Stonepine Capital Management LLC acquired a new stake in shares of Crescent Biopharma during the second quarter worth about $720,000. Finally, Bank of America Corp DE acquired a new stake in shares of Crescent Biopharma during the second quarter worth about $465,000. Institutional investors and hedge funds own 75.19% of the company's stock.

Crescent Biopharma Company Profile

Crescent Biopharma, Inc NASDAQ: CBIO is a biopharmaceutical company focused on discovering and developing innovative therapies for the treatment of serious diseases. The company's activities center on research, preclinical development and clinical evaluation of investigational drug candidates.

Crescent Biopharma does not appear to have commercially marketed products. Its pipeline consists of experimental therapies intended to address significant unmet medical needs, although detailed information about specific candidates, therapeutic areas and development stages may be limited in publicly available sources.

The company is headquartered in the United States and serves the biopharmaceutical market through its drug-development programs and potential future partnerships.

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