Key Points
- Insider Jan Pinkas sold 658 Crescent Biopharma shares for $11,778 at an average price of $17.90, reducing the holding by 2.96% to 21,581 shares. The sale occurred under a pre-arranged Rule 10b5-1 plan to cover tax obligations from vested equity awards.
- CBIO recently reported a quarterly loss of $0.74 per share, in line with estimates, while analysts project a full-year loss of $2.91 per share. Shares opened at $16.89, with a 12-month range of $8.72 to $27.41.
- Analyst sentiment remains mixed but leans positive, with a consensus rating of “Moderate Buy” and an average price target of $29.60; institutional investors and hedge funds own approximately 75.19% of the stock.
Crescent Biopharma, Inc. (NASDAQ:CBIO - Get Free Report) CFO Richard Scalzo sold 568 shares of the firm's stock in a transaction on 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. This represents a 2.80% decrease in their ownership of the stock. 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.
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 stock was sold at an average price of $17.99, for a total transaction of $20,004.88.
Crescent Biopharma Stock Up 0.7%
CBIO stock opened at $16.89 on Friday. Crescent Biopharma, Inc. has a twelve month low of $8.72 and a twelve month high of $27.41. The stock has a market capitalization of $627.29 million, a price-to-earnings ratio of -2.51 and a beta of 1.24. The firm's fifty day simple moving average is $17.12 and its two-hundred day simple moving average is $17.43.
Crescent Biopharma (NASDAQ:CBIO - Get Free Report) last released its earnings results on Thursday, July 30th. The biopharmaceutical company reported ($0.74) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.74). As a group, equities research analysts expect that Crescent Biopharma, Inc. will post -2.91 EPS for the current year.
Key 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 Investors Weigh In On Crescent Biopharma
Hedge funds have recently made changes to their positions in the company. Legal & General Group Plc bought a new position in shares of Crescent Biopharma during the 2nd quarter worth $38,000. OMERS ADMINISTRATION Corp raised its holdings in shares of Crescent Biopharma by 53.4% in the first quarter. OMERS ADMINISTRATION Corp now owns 17,800 shares of the biopharmaceutical company's stock valued at $327,000 after acquiring an additional 6,200 shares in the last quarter. Opaleye Management Inc. lifted its stake in Crescent Biopharma by 0.5% in 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 during the period. Cannon Global Investment Management LLC purchased a new stake in Crescent Biopharma in the first quarter worth about $187,000. Finally, Persistent Asset Partners Ltd bought a new position in Crescent Biopharma during the 2nd quarter worth about $197,000. 75.19% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several brokerages have recently weighed in on CBIO. HC Wainwright reiterated a "neutral" rating on shares of Crescent Biopharma in a report on Thursday, July 16th. Wedbush reissued an "outperform" rating and set a $27.00 target price on shares of Crescent Biopharma in a research note on Monday, September 14th. Weiss Ratings restated a "sell (d-)" rating on shares of Crescent Biopharma in a report on Friday, August 7th. Finally, TD Cowen raised shares of Crescent Biopharma to a "strong-buy" rating in a research note on Monday, August 24th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $29.60.
View Our Latest Report on Crescent Biopharma
Crescent Biopharma Company Profile
(
Get Free Report)
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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