Crescent Biopharma, Inc. (NASDAQ:CBIO) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Crescent Biopharma, Inc. (NASDAQ:CBIO) have been assigned an average rating of “Moderate Buy” from the five analysts that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $29.40.

A number of equities research analysts have recently issued reports on the stock. HC Wainwright restated a “neutral” rating on shares of Crescent Biopharma in a research note on Thursday, July 16th. Weiss Ratings upgraded shares of Crescent Biopharma from a “sell (e)” rating to a “sell (d-)” rating in a research report on Wednesday, May 13th.

Insider Transactions at Crescent Biopharma

In other Crescent Biopharma news, COO Jonathan Mcneill sold 20,549 shares of the firm’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $17.99, for a total transaction of $369,676.51. Following the transaction, the chief operating officer owned 139,158 shares of the company’s stock, valued at approximately $2,503,452.42. This trade represents a 12.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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. Also, CEO Joshua T. Brumm sold 42,305 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 value of $761,066.95. Following the completion of the sale, the chief executive officer directly owned 281,212 shares in the company, valued at $5,059,003.88. This represents a 13.08% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. Insiders sold a total of 68,156 shares of company stock valued at $1,226,126 in the last quarter. 24.84% of the stock is currently owned by insiders.

Institutional Trading of Crescent Biopharma

A number of hedge funds have recently bought and sold shares of the company. OMERS ADMINISTRATION Corp acquired a new position in Crescent Biopharma in the 4th quarter worth approximately $138,000. Bank of America Corp DE acquired a new position in shares of Crescent Biopharma during the 2nd quarter valued at about $149,000. HRT Financial LP bought a new position in shares of Crescent Biopharma in the fourth quarter valued at approximately $155,000. Quadrature Capital Ltd acquired a new position in Crescent Biopharma during the 4th quarter worth $157,000. Finally, Cannon Global Investment Management LLC acquired a new position in shares of Crescent Biopharma during the 1st quarter worth about $187,000. 75.19% of the stock is owned by hedge funds and other institutional investors.

Crescent Biopharma Price Performance

Crescent Biopharma stock opened at $14.47 on Monday. Crescent Biopharma has a 12-month low of $8.72 and a 12-month high of $27.41. The company has a market capitalization of $398.75 million, a price-to-earnings ratio of -2.15 and a beta of 1.20. The firm’s fifty day moving average price is $17.38 and its 200 day moving average price is $15.84.

Crescent Biopharma (NASDAQ:CBIO) last issued its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported ($0.74) EPS for the quarter, meeting analysts’ consensus estimates of ($0.74). Analysts forecast that Crescent Biopharma will post -3.17 earnings per share for the current fiscal year.

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.