Crescent Biopharma (NASDAQ:CBIO) Shares Up 4.8% - Should You Buy?

Key Points

• Crescent Biopharma shares rose 4.8% to $17.39, although trading volume was 85% below its average. The company has a market capitalization of approximately $668.9 million.
• Analyst sentiment is mixed but leans positive: the stock has a consensus rating of “Moderate Buy” and an average price target of $29.60, compared with its recent trading price.
• The clinical-stage immuno-oncology company reported a quarterly loss of $0.74 per share, while insiders sold $1.23 million of stock under pre-arranged plans to cover tax obligations. Institutional investors own approximately 75.2% of the shares.

Crescent Biopharma, Inc. (NASDAQ:CBIO - Get Free Report) shot up 4.8% during mid-day trading on Tuesday . The stock traded as high as $17.15 and last traded at $17.39. 39,225 shares changed hands during trading, a decline of 85% from the average daily volume of 265,457 shares. The stock had previously closed at $16.60.

Analysts Set New Price Targets

Several brokerages have weighed in on CBIO. Wedbush reissued an "outperform" rating and set a $27.00 price objective on shares of Crescent Biopharma in a report on Thursday, August 27th. HC Wainwright reiterated a "neutral" rating on shares of Crescent Biopharma in a report on Thursday, July 16th. TD Cowen upgraded Crescent Biopharma to a "strong-buy" rating in a report on Monday, August 24th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Crescent Biopharma in a research note on Friday, August 7th. Two equities research analysts have 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 company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $29.60.

Crescent Biopharma Stock Up 8.5%

The company has a market cap of $668.89 million, a P/E ratio of -2.68 and a beta of 1.23. The business has a fifty day moving average price of $16.62 and a 200-day moving average price of $16.65.

Crescent Biopharma (NASDAQ:CBIO - Get Free Report) last announced its 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). As a group, research analysts expect that Crescent Biopharma, Inc. will post -2.91 earnings per share for the current year.

Insider Transactions at Crescent Biopharma

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 firm's stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $17.99, for a total transaction 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 approximately $2,503,452.42. This trade represents a 12.87% decrease in their position. 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 sold 68,156 shares of company stock valued at $1,226,126 in the last three months. Company insiders own 24.84% of the company's stock.

Hedge Funds Weigh In On Crescent Biopharma

Hedge funds and other institutional investors have recently bought and sold shares of the company. Legal & General Group Plc acquired a new stake in shares of Crescent Biopharma during the 2nd quarter worth approximately $38,000. California State Teachers Retirement System acquired a new stake in Crescent Biopharma in the 2nd quarter valued at $96,000. Bank of America Corp DE bought a new position in shares of Crescent Biopharma in the second quarter valued at $149,000. Cannon Global Investment Management LLC bought a new position in shares of Crescent Biopharma in the first quarter valued at $187,000. Finally, Persistent Asset Partners Ltd acquired a new position in shares of Crescent Biopharma during the second quarter valued at about $197,000. Institutional investors and hedge funds own 75.19% of the company's stock.

Crescent Biopharma Company Profile

Crescent Biopharma, Inc NASDAQ: CBIO is a 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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