Crescent Biopharma, Inc. (NASDAQ:CBIO – Get Free Report) CFO Richard Scalzo sold 568 shares of Crescent Biopharma stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $17.90, for a total transaction of $10,167.20. Following the completion of the transaction, the chief financial officer directly owned 19,730 shares in the company, valued at approximately $353,167. The trade was a 2.80% decrease in their position. The sale was disclosed in a 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.
Richard William Scalzo also recently made the following trade(s):
- On Monday, June 22nd, Richard Scalzo sold 1,112 shares of Crescent Biopharma stock. The shares were sold at an average price of $17.99, for a total transaction of $20,004.88.
Crescent Biopharma Trading Up 0.7%
Shares of CBIO stock traded up $0.12 during trading hours on Friday, hitting $16.89. 3,123,507 shares of the company were exchanged, compared to its average volume of 294,314. The business has a 50 day moving average of $17.12 and a two-hundred day moving average of $17.43. Crescent Biopharma, Inc. has a 52 week low of $8.72 and a 52 week high of $27.41. The company has a market capitalization of $627.36 million, a PE ratio of -2.51 and a beta of 1.24.
Institutional Investors Weigh In On Crescent Biopharma
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Legal & General Group Plc bought a new stake in Crescent Biopharma during the 2nd quarter worth about $38,000. OMERS ADMINISTRATION Corp grew its holdings in shares of Crescent Biopharma by 53.4% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 17,800 shares of the biopharmaceutical company’s stock valued at $327,000 after acquiring an additional 6,200 shares in the last quarter. Opaleye Management Inc. grew its holdings in shares of Crescent Biopharma by 0.5% in the 2nd quarter. Opaleye Management Inc. now owns 1,319,351 shares of the biopharmaceutical company’s stock valued at $23,748,000 after acquiring an additional 6,736 shares in the last quarter. Cannon Global Investment Management LLC acquired a new stake in shares of Crescent Biopharma in the first quarter valued at about $187,000. Finally, Persistent Asset Partners Ltd bought a new stake in Crescent Biopharma during the second quarter worth about $197,000. 75.19% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
CBIO has been the topic of a number of research reports. TD Cowen upgraded Crescent Biopharma to a “strong-buy” rating in a report on Monday, August 24th. Wedbush reiterated an “outperform” rating and set a $27.00 price objective on shares of Crescent Biopharma in a report on Monday. Weiss Ratings reissued a “sell (d-)” rating on shares of Crescent Biopharma in a research report on Friday, August 7th. Finally, HC Wainwright restated a “neutral” rating on shares of Crescent Biopharma in a research note on Thursday, July 16th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.60.
View Our Latest Research Report on Crescent Biopharma
More Crescent Biopharma News
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
About Crescent Biopharma
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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