Crescent Biopharma, Inc. (NASDAQ:CBIO – Get Free Report) COO Jonathan Mcneill sold 20,549 shares of the business’s stock in a transaction that occurred 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 sale, the chief operating officer directly owned 139,158 shares in the company, valued at $2,503,452.42. The trade was a 12.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 traded down $0.07 during midday trading on Tuesday, hitting $17.50. 227,100 shares of the company were exchanged, compared to its average volume of 235,713. The firm has a market capitalization of $482.30 million, a P/E ratio of -1.60 and a beta of 1.17. Crescent Biopharma, Inc. has a 1-year low of $8.72 and a 1-year high of $27.41. The firm’s 50 day moving average price is $19.83 and its 200-day moving average price is $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) 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 the consensus estimate of $0.36 million. On average, sell-side analysts predict that Crescent Biopharma, Inc. will post -3.25 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
View Our Latest Report on CBIO
Institutional Investors Weigh In On Crescent Biopharma
Institutional investors and hedge funds have recently made changes to their positions in the business. OMERS ADMINISTRATION Corp acquired a new stake in Crescent Biopharma during the fourth quarter worth approximately $138,000. Bank of America Corp DE acquired a new position in Crescent Biopharma in the second quarter valued at approximately $149,000. HRT Financial LP bought a new position in shares of Crescent Biopharma during the 4th quarter worth approximately $155,000. Quadrature Capital Ltd bought a new position in shares of Crescent Biopharma during the 4th quarter worth approximately $157,000. Finally, Cannon Global Investment Management LLC acquired a new stake in shares of Crescent Biopharma during the 1st quarter worth approximately $187,000. Institutional investors own 75.19% of the company’s stock.
About Crescent Biopharma
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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