Crescent Biopharma (NASDAQ:CBIO) Insider Barbara Harlin Bispham Sells 1,218 Shares of Stock

Crescent Biopharma, Inc. (NASDAQ:CBIO) insider Barbara Harlin Bispham sold 1,218 shares of the firm’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 $21,911.82. Following the completion of the sale, the insider owned 19,330 shares in the company, valued at approximately $347,746.70. The trade was a 5.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through 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.

Crescent Biopharma Price Performance

NASDAQ:CBIO opened at $17.50 on Wednesday. The stock has a market cap of $482.30 million, a P/E ratio of -1.60 and a beta of 1.16. Crescent Biopharma, Inc. has a one year low of $8.72 and a one year high of $27.41. The company has a fifty day moving average price of $19.82 and a 200 day moving average price of $15.03.

Crescent Biopharma (NASDAQ:CBIO) last posted its quarterly earnings results on Wednesday, April 29th. The biopharmaceutical company reported ($0.70) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.85) by $0.15. The company had revenue of $1.04 million during the quarter, compared to analyst estimates of $0.36 million. As a group, equities research analysts anticipate that Crescent Biopharma, Inc. will post -3.25 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on CBIO. HC Wainwright decreased their target price on Crescent Biopharma from $25.00 to $22.00 and set a “buy” rating on the stock in a research report on Monday, March 2nd. Stifel Nicolaus set a $29.00 price target on Crescent Biopharma in a report on Thursday, February 26th. Weiss Ratings raised Crescent Biopharma from a “sell (e)” rating to a “sell (d-)” rating in a report on Wednesday, May 13th. Finally, Wall Street Zen upgraded 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 given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Crescent Biopharma currently has an average rating of “Moderate Buy” and a consensus target price of $29.00.

Institutional Trading of Crescent Biopharma

A number of large investors have recently bought and sold shares of CBIO. Jefferies Financial Group Inc. raised its stake in Crescent Biopharma by 279.1% during the third quarter. Jefferies Financial Group Inc. now owns 102,714 shares of the biopharmaceutical company’s stock worth $1,221,000 after acquiring an additional 75,618 shares in the last quarter. NEXTBio Capital Management LP acquired a new stake in shares of Crescent Biopharma in the 4th quarter valued at $4,422,000. BVF Inc. IL boosted its stake in shares of 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 purchasing an additional 1,360,900 shares in the last quarter. Fcpm Iii Services B.V. bought a new stake in shares of Crescent Biopharma in the 4th quarter worth about $19,899,000. Finally, Exome Asset Management LLC bought a new stake in shares of Crescent Biopharma in the 1st quarter worth about $2,814,000. 75.19% of the stock is currently owned by institutional investors.

Crescent Biopharma Company Profile

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.