Crescent Biopharma (NASDAQ:CBIO) CFO Richard William Scalzo Sells 568 Shares of Stock

Crescent Biopharma, Inc. (NASDAQ:CBIO) CFO Richard Scalzo sold 568 shares of Crescent Biopharma stock in a transaction 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 transaction, the chief financial officer owned 19,730 shares in the company, valued at approximately $353,167. This trade represents a 2.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 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 stock was sold at an average price of $17.99, for a total transaction of $20,004.88.

Crescent Biopharma Stock Performance

Shares of CBIO stock opened at $16.89 on Friday. The stock has a fifty day simple moving average of $17.12 and a two-hundred day simple moving average of $17.43. The firm has a market capitalization of $627.29 million, a PE ratio of -2.51 and a beta of 1.24. Crescent Biopharma, Inc. has a 52-week low of $8.72 and a 52-week high of $27.41.

Crescent Biopharma (NASDAQ:CBIO) last announced 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). On average, sell-side analysts forecast that Crescent Biopharma, Inc. will post -2.91 EPS for the current fiscal year.

Institutional Investors Weigh In On Crescent Biopharma

A number of hedge funds have recently bought and sold shares of the business. Legal & General Group Plc purchased a new position in shares of Crescent Biopharma in the 2nd quarter worth $38,000. Cannon Global Investment Management LLC purchased a new stake in shares of Crescent Biopharma during the 1st quarter valued at about $187,000. Persistent Asset Partners Ltd bought a new position in shares of Crescent Biopharma in the 2nd quarter valued at about $197,000. Wellington Management Group LLP purchased a new position in Crescent Biopharma in the second quarter worth about $263,000. Finally, The Manufacturers Life Insurance Company bought a new stake in Crescent Biopharma during the second quarter worth approximately $320,000. Hedge funds and other institutional investors own 75.19% of the company’s stock.

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

Wall Street Analyst Weigh In

CBIO has been the subject of a number of research analyst reports. TD Cowen raised shares of Crescent Biopharma to a “strong-buy” rating in a report on Monday, August 24th. Weiss Ratings restated a “sell (d-)” rating on shares of Crescent Biopharma in a research report on Friday, August 7th. Wedbush reaffirmed an “outperform” rating and set a $27.00 target price on shares of Crescent Biopharma in a research note on Monday, September 14th. Finally, HC Wainwright reissued a “neutral” rating on shares of Crescent Biopharma in a report on Thursday, July 16th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $29.60.

Crescent Biopharma Company Profile

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.