Crescent Biopharma, Inc. (NASDAQ:CBIO) Given Average Rating of “Moderate Buy” by Analysts

Shares of Crescent Biopharma, Inc. (NASDAQ:CBIOGet Free Report) have been given a consensus rating of “Moderate Buy” by the six research firms that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $29.60.

CBIO has been the topic of several recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Crescent Biopharma in a research report on Friday, August 7th. TD Cowen raised shares of Crescent Biopharma to a “strong-buy” rating in a report on Monday, August 24th. Wedbush reiterated an “outperform” rating and issued a $27.00 target price on shares of Crescent Biopharma in a research note on Monday. Finally, HC Wainwright reaffirmed a “neutral” rating on shares of Crescent Biopharma in a report on Thursday, July 16th.

View Our Latest Report on CBIO

Crescent Biopharma Stock Up 1.4%

CBIO opened at $19.68 on Tuesday. Crescent Biopharma 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 $17.08 and its two-hundred day moving average price is $17.32. The stock has a market cap of $730.99 million, a price-to-earnings ratio of -2.93 and a beta of 1.24.

Crescent Biopharma (NASDAQ:CBIOGet Free Report) last posted its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported ($0.74) EPS for the quarter, meeting the consensus estimate of ($0.74). As a group, sell-side analysts anticipate that Crescent Biopharma will post -2.91 earnings per share for the current year.

Insider Buying and Selling

In other news, COO Jonathan McNeill sold 20,549 shares of the stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $17.99, for a total value of $369,676.51. Following the transaction, the chief operating officer owned 139,158 shares of the company’s stock, valued at $2,503,452.42. This represents a 12.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 42,305 shares of the stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $17.99, for a total value of $761,066.95. Following the completion of the transaction, the chief executive officer directly owned 281,212 shares in the company, valued at approximately $5,059,003.88. This represents a 13.08% decrease in their position. The SEC filing for this sale provides additional information. 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. Insiders sold 68,156 shares of company stock worth $1,226,126 over the last ninety days. 24.84% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Crescent Biopharma

Institutional investors and hedge funds have recently made changes to their positions in the business. Legal & General Group Plc purchased a new position in Crescent Biopharma in the 2nd quarter worth $38,000. California State Teachers Retirement System bought a new stake in Crescent Biopharma in the second quarter valued at approximately $96,000. Cannon Global Investment Management LLC purchased a new stake in shares of Crescent Biopharma during the first quarter valued at approximately $187,000. Persistent Asset Partners Ltd purchased a new stake in shares of Crescent Biopharma during the second quarter worth about $197,000. Finally, Wellington Management Group LLP purchased a new position in Crescent Biopharma during the 2nd quarter valued at about $263,000. Institutional investors own 75.19% of the company’s stock.

Crescent Biopharma Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Crescent Biopharma (NASDAQ:CBIO)

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