Crescent Biopharma, Inc. (CBIO) – What Are Analysts Thinking About This Stock?

Shares of Crescent Biopharma, Inc. (NASDAQ:CBIO) have received a consensus rating of “Buy” from the six ratings firms that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, three have given a buy rating and two have issued a strong buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $32.40.

Several research analysts have weighed in on CBIO shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Crescent Biopharma in a research note on Friday, August 7th. Wedbush reiterated an “outperform” rating and issued a $27.00 price objective on shares of Crescent Biopharma in a research note on Monday, September 14th. HC Wainwright upgraded shares of Crescent Biopharma from a “neutral” rating to a “buy” rating and set a $36.00 price objective for the company in a research report on Tuesday, October 6th. Finally, TD Cowen upgraded shares of Crescent Biopharma to a “strong-buy” rating in a research note on Monday, August 24th.

Crescent Biopharma Stock Down 5.1%

Shares of NASDAQ CBIO traded down $0.64 during midday trading on Friday, reaching $11.84. 208,152 shares of the company’s stock traded hands, compared to its average volume of 522,198. Crescent Biopharma has a one year low of $8.72 and a one year high of $27.41. The stock’s 50 day simple moving average is $16.45 and its 200-day simple moving average is $17.77. The company has a market cap of $439.74 million, a price-to-earnings ratio of -1.76 and a beta of 1.27.

Crescent Biopharma (NASDAQ:CBIO) last posted its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported ($0.74) EPS for the quarter, hitting the consensus estimate of ($0.74). Equities analysts predict that Crescent Biopharma will post -2.93 EPS for the current fiscal year.

Insider Transactions at Crescent Biopharma

In related news, COO Jonathan McNeill sold 3,839 shares of the firm’s stock in a transaction on Friday, September 18th. The stock was sold at an average price of $16.71, for a total transaction of $64,149.69. Following the transaction, the chief operating officer directly owned 134,588 shares in the company, valued at $2,248,965.48. This trade represents a 2.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, 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. Also, CEO Joshua Brumm sold 7,837 shares of the business’s stock in a transaction that occurred on Friday, September 18th. The stock was sold at an average price of $16.71, for a total value of $130,956.27. Following the transaction, the chief executive officer owned 271,765 shares of the company’s stock, valued at approximately $4,541,193.15. This represents a 2.80% decrease in their ownership of the stock. 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. Over the last three months, insiders sold 16,726 shares of company stock valued at $285,501. 24.84% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Crescent Biopharma

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Stonepine Capital Management LLC bought a new position in shares of Crescent Biopharma during the 2nd quarter worth approximately $720,000. Jennison Associates LLC bought a new stake in Crescent Biopharma in the first quarter valued at $2,810,000. Exome Asset Management LLC bought a new stake in Crescent Biopharma in the first quarter valued at $2,814,000. BlackRock Inc. acquired a new position in Crescent Biopharma during the second quarter worth $22,892,000. Finally, Bank of New York Mellon Corp acquired a new position in Crescent Biopharma during the second quarter worth $824,000. 75.19% of the stock is currently owned by institutional investors.

Crescent Biopharma Company Profile