Crescent Biopharma (NASDAQ:CBIO) Insider Ellie Eunkyung Im Sells 623 Shares of Stock

Crescent Biopharma, Inc. (NASDAQ:CBIO) insider Ellie Im sold 623 shares of the business’s stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $17.90, for a total value of $11,151.70. Following the completion of the sale, the insider owned 21,446 shares of the company’s stock, valued at $383,883.40. The trade was a 2.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, 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.

Ellie Eunkyung Im also recently made the following trade(s):

• On Monday, June 22nd, Ellie Im sold 1,219 shares of Crescent Biopharma stock. The stock was sold at an average price of $17.99, for a total transaction of $21,929.81.

Crescent Biopharma Stock Up 0.7%

Shares of Crescent Biopharma stock traded up $0.12 on Friday, hitting $16.89. The stock had a trading volume of 3,123,507 shares, compared to its average volume of 294,314. The stock has a market cap of $627.36 million, a price-to-earnings ratio of -2.51 and a beta of 1.24. The stock’s 50-day simple moving average is $17.12 and its two-hundred day simple moving average is $17.43. Crescent Biopharma, Inc. has a one year low of $8.72 and a one year high of $27.41.

Crescent Biopharma (NASDAQ:CBIO) last announced its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported ($0.74) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.74). As a group, equities analysts predict that Crescent Biopharma, Inc. will post -2.91 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Crescent Biopharma News Roundup

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 purchased a new stake in Crescent Biopharma in the second quarter worth $38,000. Cannon Global Investment Management LLC purchased a new position in Crescent Biopharma during the first quarter valued at $187,000. Persistent Asset Partners Ltd bought a new stake in shares of Crescent Biopharma during the 2nd quarter valued at $197,000. Wellington Management Group LLP bought a new stake in shares of Crescent Biopharma during the 2nd quarter valued at $263,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Crescent Biopharma in the 2nd quarter worth about $320,000. 75.19% of the stock is currently owned by institutional investors.

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.