Crescent Biopharma, Inc. (NASDAQ:CBIO – Get Free Report) insider Ellie Eunkyung Im sold 1,219 shares of the business’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $17.99, for a total transaction of $21,929.81. Following the transaction, the insider owned 22,069 shares of the company’s stock, valued at approximately $397,021.31. The trade was a 5.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at 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.
Crescent Biopharma Price Performance
NASDAQ:CBIO opened at $17.50 on Wednesday. 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 PE ratio of -1.60 and a beta of 1.16. The business’s fifty day moving average price is $19.82 and its 200 day moving average price is $15.03.
Crescent Biopharma (NASDAQ:CBIO – Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The biopharmaceutical company reported ($0.70) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.85) by $0.15. The business had revenue of $1.04 million for the quarter, compared to analysts’ expectations of $0.36 million. As a group, equities analysts anticipate that Crescent Biopharma, Inc. will post -3.25 EPS for the current year.
Wall Street Analysts Forecast Growth
View Our Latest Stock Analysis on CBIO
Institutional Investors Weigh In On Crescent Biopharma
Hedge funds have recently modified their holdings of the stock. BVF Inc. IL grew its position in Crescent Biopharma by 98.1% in the 4th quarter. BVF Inc. IL now owns 2,748,763 shares of the biopharmaceutical company’s stock valued at $32,600,000 after buying an additional 1,360,900 shares during the last quarter. Fcpm Iii Services B.V. purchased a new position in Crescent Biopharma during the 4th quarter worth $19,899,000. Vestal Point Capital LP acquired a new stake in shares of Crescent Biopharma in the 4th quarter worth $17,790,000. Opaleye Management Inc. acquired a new stake in shares of Crescent Biopharma in the 4th quarter worth $13,975,000. Finally, Tang Capital Management LLC boosted its holdings in shares of Crescent Biopharma by 28.3% in the fourth quarter. Tang Capital Management LLC now owns 872,398 shares of the biopharmaceutical company’s stock valued at $10,347,000 after acquiring an additional 192,574 shares in the last quarter. 75.19% of the stock is owned by institutional investors and hedge funds.
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.
Further Reading
- Five stocks we like better than Crescent Biopharma
- Oracle’s Sell-Off Looks More Like a Mispricing Than a Warning
- Apple’s Intel Deal Arrives at the Right Time for Its Stock
- Liquid Gold: The AI Cooling Retrofit Trade
- 3 Dividend Stocks Under $30 to Anchor Your Portfolio
Receive News & Ratings for Crescent Biopharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Crescent Biopharma and related companies with MarketBeat.com's FREE daily email newsletter.
