Crescent Biopharma, Inc. (NASDAQ:CBIO – Get Free Report) insider Jan Pinkas sold 1,288 shares of the company’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $17.99, for a total transaction of $23,171.12. Following the completion of the transaction, the insider directly owned 22,239 shares in the company, valued at $400,079.61. The trade was a 5.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 Down 0.4%
CBIO stock traded down $0.07 during mid-day trading on Tuesday, hitting $17.50. 227,100 shares of the company were exchanged, compared to its average volume of 235,713. Crescent Biopharma, Inc. has a 12-month low of $8.72 and a 12-month high of $27.41. The firm has a market capitalization of $482.30 million, a P/E ratio of -1.60 and a beta of 1.17. The business has a fifty day simple moving average of $19.83 and a 200-day simple moving average of $15.01.
Crescent Biopharma (NASDAQ:CBIO – Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The biopharmaceutical company reported ($0.70) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.85) by $0.15. The company had revenue of $1.04 million during the quarter, compared to analysts’ expectations of $0.36 million. Research analysts predict that Crescent Biopharma, Inc. will post -3.25 EPS for the current year.
Analyst Ratings Changes
Get Our Latest Stock Analysis on CBIO
Institutional Investors Weigh In On Crescent Biopharma
Several hedge funds and other institutional investors have recently made changes to their positions in CBIO. BVF Inc. IL raised its position in shares of Crescent Biopharma by 98.1% during the 4th quarter. BVF Inc. IL now owns 2,748,763 shares of the biopharmaceutical company’s stock worth $32,600,000 after acquiring an additional 1,360,900 shares in the last quarter. Fcpm Iii Services B.V. purchased a new stake in shares of Crescent Biopharma during the 4th quarter worth approximately $19,899,000. Vestal Point Capital LP purchased a new stake in shares of Crescent Biopharma during the 4th quarter worth approximately $17,790,000. Opaleye Management Inc. acquired a new position in shares of Crescent Biopharma in the 4th quarter valued at $13,975,000. Finally, Tang Capital Management LLC grew its position in shares of Crescent Biopharma by 28.3% in the 4th quarter. Tang Capital Management LLC now owns 872,398 shares of the biopharmaceutical company’s stock valued at $10,347,000 after buying an additional 192,574 shares during the last quarter. Institutional investors and hedge funds 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.
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