Crescent Biopharma (NASDAQ:CBIO) COO Jonathan Mcneill Sells 3,839 Shares

Crescent Biopharma, Inc. (NASDAQ:CBIO) COO Jonathan McNeill sold 3,839 shares of the stock in a transaction dated Friday, September 18th. The shares were sold at an average price of $16.71, for a total value of $64,149.69. Following the completion of the sale, the chief operating officer owned 134,588 shares of the company’s stock, valued at approximately $2,248,965.48. This trade represents a 2.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at 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.

Jonathan Mcneill also recently made the following trade(s):

• On Wednesday, September 16th, Jonathan McNeill sold 731 shares of Crescent Biopharma stock. The shares were sold at an average price of $17.90, for a total transaction of $13,084.90.
• On Monday, June 22nd, Jonathan McNeill sold 20,549 shares of Crescent Biopharma stock. The shares were sold at an average price of $17.99, for a total transaction of $369,676.51.

Crescent Biopharma Trading Up 0.7%

NASDAQ CBIO opened at $16.89 on Friday. The stock has a market cap of $627.29 million, a P/E ratio of -2.51 and a beta of 1.24. The company’s fifty day simple moving average is $17.12 and its 200-day simple 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 released its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported ($0.74) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.74). On average, research analysts expect that Crescent Biopharma, Inc. will post -2.91 EPS for the current fiscal year.

Key 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

Institutional Investors Weigh In On Crescent Biopharma

A number of institutional investors have recently made changes to their positions in the company. Jennison Associates LLC bought a new position in Crescent Biopharma during the first quarter worth $2,810,000. Exome Asset Management LLC bought a new stake in Crescent Biopharma during the first quarter valued at $2,814,000. Stonepine Capital Management LLC acquired a new stake in shares of Crescent Biopharma during the second quarter worth $720,000. BlackRock Inc. acquired a new stake in shares of Crescent Biopharma during the second quarter worth $22,892,000. Finally, Fcpm Iii Services B.V. acquired a new stake in shares of Crescent Biopharma during the fourth quarter worth $19,899,000. 75.19% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CBIO. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Crescent Biopharma in a research report on Friday, August 7th. TD Cowen upgraded Crescent Biopharma to a “strong-buy” rating in a research note on Monday, August 24th. HC Wainwright restated a “neutral” rating on shares of Crescent Biopharma in a report on Thursday, July 16th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $27.00 target price on shares of Crescent Biopharma in a research report on Monday, September 14th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price 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.