Crescent Biopharma (CBIO) Set to Announce Earnings on Thursday

Key Points

• Crescent Biopharma is expected to report quarterly results before the market opens on Thursday, November 5, with analysts projecting a loss of $0.6739 per share and revenue of $0.36 million.
• CBIO shares opened at $13.50, well below the company’s 12-month high of $27.41. Analysts maintain an average “Buy” rating and a consensus price target of $33.00.
• Company executives recently sold shares under pre-arranged Rule 10b5-1 plans to cover tax obligations; insiders sold 16,726 shares worth $285,501 over the past 90 days.

Crescent Biopharma (NASDAQ:CBIO - Get Free Report) is projected to issue its results before the market opens on Thursday, November 5th. Analysts expect Crescent Biopharma to post earnings of ($0.6739) per share and revenue of $0.36 million for the quarter.

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, meeting analysts' consensus estimates of ($0.74). On average, analysts expect Crescent Biopharma to post ($2.93) EPS for the current fiscal year and ($3.17) EPS for the next fiscal year.

Crescent Biopharma Price Performance

NASDAQ CBIO opened at $13.50 on Thursday. Crescent Biopharma has a 12 month low of $8.72 and a 12 month high of $27.41. The firm has a market capitalization of $501.39 million, a PE ratio of -2.01 and a beta of 1.27. The company's 50 day simple moving average is $15.74 and its 200 day simple moving average is $15.80.

Analyst Upgrades and Downgrades

Several brokerages have commented on CBIO. HC Wainwright reiterated a "buy" rating and issued a $36.00 price target on shares of Crescent Biopharma in a research report on Monday, October 19th. TD Cowen raised Crescent Biopharma to a "strong-buy" rating in a research report on Monday, August 24th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Crescent Biopharma in a research note on Friday, August 7th. Wedbush restated an "outperform" rating and set a $27.00 price target on shares of Crescent Biopharma in a report on Monday, September 14th. Finally, UBS Group reaffirmed a "buy" rating and set a $36.00 price objective on shares of Crescent Biopharma in a report on Monday, October 19th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Crescent Biopharma has an average rating of "Buy" and an average price target of $33.00.

Insider Activity

In other news, COO Jonathan McNeill sold 3,839 shares of Crescent Biopharma stock in a transaction on Friday, September 18th. The stock was sold at an average price of $16.71, for a total value of $64,149.69. Following the completion of the sale, the chief operating officer directly owned 134,588 shares of the company's stock, valued at approximately $2,248,965.48. This trade represents a 2.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 7,837 shares of Crescent Biopharma stock in a transaction that occurred on Friday, September 18th. The stock was sold at an average price of $16.71, for a total transaction of $130,956.27. Following the sale, the chief executive officer owned 271,765 shares of the company's stock, valued at approximately $4,541,193.15. This represents a 2.80% 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. In the last ninety days, insiders sold 16,726 shares of company stock worth $285,501. 24.84% of the stock is owned by insiders.

About Crescent Biopharma

Crescent Biopharma, Inc operates as a biopharmaceutical company that develops and designs small molecule therapeutics to treat cancers. The company was founded on September 19, 2024 and is headquartered in Waltham, MA.

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