Crescent Biopharma (NASDAQ:CBIO) Stock Price Up 4.9% – What’s Next?

Crescent Biopharma, Inc. (NASDAQ:CBIO)’s stock price rose 4.9% during mid-day trading on Monday . The stock traded as high as $17.71 and last traded at $17.44. 6,450 shares were traded during mid-day trading, a decline of 98% from the average session volume of 274,335 shares. The stock had previously closed at $16.63.

Analyst Ratings Changes

A number of research firms recently weighed in on CBIO. HC Wainwright reissued a “neutral” rating on shares of Crescent Biopharma in a report on Thursday, July 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Crescent Biopharma in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Crescent Biopharma has an average rating of “Moderate Buy” and an average price target of $29.40.

Crescent Biopharma Stock Down 4.5%

The company has a market cap of $619.87 million, a P/E ratio of -2.48 and a beta of 1.23. The business has a fifty day moving average price of $16.75 and a 200-day moving average price of $16.17.

Crescent Biopharma (NASDAQ:CBIO) last announced its earnings results on Thursday, July 30th. The biopharmaceutical company reported ($0.74) earnings per share 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.

Insiders Place Their Bets

In other Crescent Biopharma news, COO Jonathan Mcneill sold 20,549 shares of the stock in a transaction 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 transaction, the chief operating officer owned 139,158 shares in the company, valued at $2,503,452.42. This trade represents a 12.87% decrease in their position. The transaction was disclosed in a filing 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. Also, CEO Joshua T. Brumm sold 42,305 shares of Crescent Biopharma stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $17.99, for a total value of $761,066.95. Following the sale, the chief executive officer directly 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 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. Over the last ninety days, insiders sold 68,156 shares of company stock worth $1,226,126. Insiders own 24.84% of the company’s stock.

Institutional Trading of Crescent Biopharma

A number of institutional investors have recently bought and sold shares of CBIO. Legal & General Group Plc acquired a new stake in shares of Crescent Biopharma in the second quarter valued at approximately $38,000. OMERS ADMINISTRATION Corp boosted its stake 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 buying an additional 6,200 shares during the period. State Street Corp grew its position in Crescent Biopharma by 40.8% during the fourth quarter. State Street Corp now owns 26,217 shares of the biopharmaceutical company’s stock worth $311,000 after buying an additional 7,600 shares in the last quarter. Bank of America Corp DE acquired a new stake in Crescent Biopharma during the second quarter worth approximately $149,000. Finally, Cannon Global Investment Management LLC bought a new position in Crescent Biopharma during the 1st quarter worth $187,000. Institutional investors 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.