Crescent Biopharma (NASDAQ:CBIO) CEO Joshua Brumm Sells 1,610 Shares of Stock

Crescent Biopharma, Inc. (NASDAQ:CBIO) CEO Joshua Brumm sold 1,610 shares of the firm’s stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $17.90, for a total value of $28,819.00. Following the transaction, the chief executive officer owned 279,602 shares of the company’s stock, valued at $5,004,875.80. This trade represents a 0.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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.

Crescent Biopharma Stock Performance

Shares of NASDAQ CBIO traded up $0.12 during midday trading on Friday, reaching $16.89. The stock had a trading volume of 3,123,507 shares, compared to its average volume of 294,314. The firm has a market cap of $627.36 million, a price-to-earnings ratio of -2.51 and a beta of 1.24. Crescent Biopharma, Inc. has a twelve month low of $8.72 and a twelve month high of $27.41. The company’s 50 day moving average price is $17.12 and its 200 day moving average price is $17.43.

Crescent Biopharma (NASDAQ:CBIO) last posted its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported ($0.74) earnings per share for the quarter, hitting the consensus estimate of ($0.74). Equities analysts forecast that Crescent Biopharma, Inc. will post -2.91 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Crescent Biopharma

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Legal & General Group Plc bought a new position in shares of Crescent Biopharma during the 2nd quarter worth about $38,000. Cannon Global Investment Management LLC acquired a new stake in shares of Crescent Biopharma in the 1st quarter valued at about $187,000. Persistent Asset Partners Ltd bought a new stake in Crescent Biopharma in the 2nd quarter valued at about $197,000. Wellington Management Group LLP bought a new stake in Crescent Biopharma in the 2nd quarter valued at about $263,000. Finally, The Manufacturers Life Insurance Company acquired a new position in Crescent Biopharma during the 2nd quarter worth approximately $320,000. 75.19% of the stock is owned by institutional investors.

More 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

Analysts Set New Price Targets

CBIO has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Crescent Biopharma in a research note on Friday, August 7th. TD Cowen upgraded Crescent Biopharma to a “strong-buy” rating in a report on Monday, August 24th. HC Wainwright reissued a “neutral” rating on shares of Crescent Biopharma in a research note on Thursday, July 16th. Finally, Wedbush restated an “outperform” rating and set a $27.00 price target on shares of Crescent Biopharma in a report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Crescent Biopharma currently has an average rating of “Moderate Buy” and an average target price of $29.60.

Crescent Biopharma Company Profile

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.