Barbara Harlin Bispham Sells 1,218 Shares of Crescent Biopharma (NASDAQ:CBIO) 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 shares were sold at an average price of $17.99, for a total value of $21,911.82. Following the sale, the insider directly owned 19,330 shares of the company’s stock, valued at $347,746.70. This represents a 5.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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

CBIO stock opened at $17.36 on Thursday. The company has a fifty day moving average price of $19.81 and a two-hundred day moving average price of $15.07. Crescent Biopharma, Inc. has a one year low of $8.72 and a one year high of $27.41. The stock has a market cap of $478.44 million, a price-to-earnings ratio of -1.59 and a beta of 1.16.

Crescent Biopharma (NASDAQ:CBIO) last released its quarterly earnings data on Wednesday, April 29th. The biopharmaceutical company reported ($0.70) EPS for the quarter, beating 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. Research analysts anticipate that Crescent Biopharma, Inc. will post -3.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. OMERS ADMINISTRATION Corp acquired a new stake in shares of Crescent Biopharma during the fourth quarter worth $138,000. Bank of America Corp DE bought a new stake in shares of Crescent Biopharma in the second quarter valued at about $149,000. HRT Financial LP acquired a new position in shares of Crescent Biopharma in the fourth quarter valued at about $155,000. Quadrature Capital Ltd acquired a new position in shares of Crescent Biopharma in the fourth quarter valued at about $157,000. Finally, Cannon Global Investment Management LLC bought a new position in Crescent Biopharma during the first quarter worth about $187,000. Institutional investors own 75.19% of the company’s stock.

Wall Street Analyst Weigh In

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

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.