Crescent Biopharma (NASDAQ:CBIO) Insider Barbara Harlin Bispham Sells 1,218 Shares of 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 completion of the sale, the insider owned 19,330 shares of the company’s stock, valued at approximately $347,746.70. This trade represents a 5.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through 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 Trading Down 0.4%

Shares of Crescent Biopharma stock traded down $0.07 during trading on Tuesday, reaching $17.50. The company’s stock had a trading volume of 227,100 shares, compared to its average volume of 235,713. The stock has a 50-day moving average price of $19.83 and a two-hundred day moving average price of $15.01. The stock has a market capitalization of $482.30 million, a P/E ratio of -1.60 and a beta of 1.17. Crescent Biopharma, Inc. has a one year low of $8.72 and a one year high of $27.41.

Crescent Biopharma (NASDAQ:CBIO) last posted its quarterly earnings data on Wednesday, April 29th. The biopharmaceutical company reported ($0.70) earnings per share 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. As a group, sell-side analysts anticipate that Crescent Biopharma, Inc. will post -3.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE raised its position in shares of Crescent Biopharma by 425.3% during the first quarter. Bank of America Corp DE now owns 29,277 shares of the biopharmaceutical company’s stock worth $538,000 after purchasing an additional 23,704 shares during the period. Exome Asset Management LLC bought a new stake in Crescent Biopharma during the 1st quarter worth approximately $2,814,000. OMERS ADMINISTRATION Corp increased its stake in Crescent Biopharma by 53.4% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 17,800 shares of the biopharmaceutical company’s stock worth $327,000 after purchasing an additional 6,200 shares in the last quarter. Jennison Associates LLC acquired a new stake in Crescent Biopharma during the 1st quarter worth approximately $2,810,000. Finally, Cannon Global Investment Management LLC acquired a new stake in Crescent Biopharma during the 1st quarter worth approximately $187,000. 75.19% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. HC Wainwright lowered their target price on Crescent Biopharma from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Monday, March 2nd. Wall Street Zen upgraded Crescent Biopharma from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Weiss Ratings raised Crescent Biopharma from a “sell (e)” rating to a “sell (d-)” rating in a report on Wednesday, May 13th. Finally, Stifel Nicolaus set a $29.00 target price on shares of Crescent Biopharma in a research report on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Crescent Biopharma currently has an average rating of “Moderate Buy” and an average target price of $29.00.

Crescent Biopharma Company Profile

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-?), with the goal of restoring T-cell activity and reducing tumor fibrosis.