Crescent Biopharma (NASDAQ:CBIO) CEO Joshua Brumm Sells 1,610 Shares

Crescent Biopharma, Inc. (NASDAQ:CBIO) CEO Joshua Brumm sold 1,610 shares of the company’s stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $17.90, for a total transaction of $28,819.00. Following the completion of the transaction, the chief executive officer owned 279,602 shares of the company’s stock, valued at approximately $5,004,875.80. This trade represents a 0.57% decrease in their ownership of the stock. The sale was disclosed in a document filed 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 Stock Performance

Shares of NASDAQ:CBIO opened at $16.89 on Friday. The firm has a market cap of $627.29 million, a PE ratio of -2.51 and a beta of 1.24. The firm’s fifty day moving average is $17.12 and its 200-day moving average is $17.43. Crescent Biopharma, Inc. has a 52 week low of $8.72 and a 52 week high of $27.41.

Crescent Biopharma (NASDAQ:CBIO) last issued its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported ($0.74) earnings per share for the quarter, hitting the consensus estimate of ($0.74). Sell-side analysts forecast that Crescent Biopharma, Inc. will post -2.91 EPS for the current year.

Institutional Trading of Crescent Biopharma

Institutional investors have recently bought and sold shares of the company. BVF Inc. IL grew its holdings in Crescent Biopharma by 98.1% during the 4th quarter. BVF Inc. IL now owns 2,748,763 shares of the biopharmaceutical company’s stock worth $32,600,000 after acquiring an additional 1,360,900 shares during the period. Opaleye Management Inc. lifted its stake in shares of Crescent Biopharma by 0.5% in the 2nd quarter. Opaleye Management Inc. now owns 1,319,351 shares of the biopharmaceutical company’s stock valued at $23,748,000 after purchasing an additional 6,736 shares during the period. BlackRock Inc. acquired a new position in shares of Crescent Biopharma in the 2nd quarter valued at about $22,892,000. Fcpm Iii Services B.V. bought a new stake in shares of Crescent Biopharma during the 4th quarter valued at about $19,899,000. Finally, NEXTBio Capital Management LP bought a new stake in shares of Crescent Biopharma during the 4th quarter valued at about $4,422,000. Institutional investors own 75.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Wedbush reissued an “outperform” rating and issued a $27.00 price target on shares of Crescent Biopharma in a research note on Monday, September 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Crescent Biopharma in a report on Friday, August 7th. TD Cowen raised shares of Crescent Biopharma to a “strong-buy” rating in a research report on Monday, August 24th. Finally, HC Wainwright restated a “neutral” rating on shares of Crescent Biopharma in a report on Thursday, July 16th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $29.60.

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

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.