Crescent Biopharma (NASDAQ:CBIO) Insider Ellie Eunkyung Im Sells 1,219 Shares

Crescent Biopharma, Inc. (NASDAQ:CBIOGet 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:CBIOGet 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

Several equities research analysts recently weighed in on CBIO shares. Stifel Nicolaus set a $29.00 target price on Crescent Biopharma in a research note on Thursday, February 26th. Weiss Ratings upgraded shares of Crescent Biopharma from a “sell (e)” rating to a “sell (d-)” rating in a research note on Wednesday, May 13th. HC Wainwright cut their price objective on shares of Crescent Biopharma from $25.00 to $22.00 and set a “buy” rating on the stock in a report on Monday, March 2nd. Finally, Wall Street Zen upgraded shares of Crescent Biopharma from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $29.00.

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

(Get Free Report)

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

Insider Buying and Selling by Quarter for Crescent Biopharma (NASDAQ:CBIO)

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