Crescent Biopharma (CBIO) Projected to Announce Quarterly Earnings on Thursday

Crescent Biopharma (NASDAQ:CBIO) will likely be issuing its results after the market closes on Thursday, July 30th. Analysts expect Crescent Biopharma to post earnings of ($0.70) per share and revenue of $0.3570 million for the quarter.

Crescent Biopharma (NASDAQ:CBIO) last issued its quarterly earnings data on Wednesday, April 29th. The biopharmaceutical company reported ($0.70) EPS for the quarter, topping the consensus estimate of ($0.85) by $0.15. The firm had revenue of $1.04 million during the quarter, compared to the consensus estimate of $0.36 million. On average, analysts expect Crescent Biopharma to post $-3 EPS for the current fiscal year and $-3 EPS for the next fiscal year.

Crescent Biopharma Stock Performance

Crescent Biopharma stock opened at $16.93 on Tuesday. Crescent Biopharma has a one year low of $8.72 and a one year high of $27.41. The stock has a fifty day moving average of $17.73 and a 200 day moving average of $15.72. The stock has a market cap of $466.54 million, a PE ratio of -1.55 and a beta of 1.20.

Insider Activity

In related news, CEO Joshua T. Brumm sold 42,305 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at approximately $5,059,003.88. This represents a 13.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through 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 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 in the company, valued at approximately $2,503,452.42. The trade was a 12.87% 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 sold 68,156 shares of company stock worth $1,226,126 in the last ninety days. Corporate insiders own 24.84% of the company’s stock.

Institutional Trading of Crescent Biopharma

A number of hedge funds and other institutional investors have recently modified their holdings of CBIO. ADAR1 Capital Management LLC purchased a new position in shares of Crescent Biopharma during the 4th quarter valued at $7,187,000. Vestal Point Capital LP bought a new stake in Crescent Biopharma during the fourth quarter valued at about $17,790,000. Tang Capital Management LLC raised its holdings in Crescent Biopharma by 28.3% during the fourth quarter. Tang Capital Management LLC now owns 872,398 shares of the biopharmaceutical company’s stock valued at $10,347,000 after acquiring an additional 192,574 shares during the period. Quadrature Capital Ltd purchased a new position in shares of Crescent Biopharma in the fourth quarter valued at about $157,000. Finally, RTW Investments LP bought a new position in shares of Crescent Biopharma in the fourth quarter worth about $4,422,000. 75.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CBIO has been the topic of several recent research reports. Weiss Ratings upgraded shares of Crescent Biopharma from a “sell (e)” rating to a “sell (d-)” rating in a research note on Wednesday, May 13th. HC Wainwright reiterated a “neutral” rating on shares of Crescent Biopharma in a research report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $29.40.

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.