Crescent Biopharma (NASDAQ:CBIO) Releases Earnings Results, Misses Estimates By $1.79 EPS

Crescent Biopharma (NASDAQ:CBIO) released its quarterly earnings results on Thursday. The biopharmaceutical company reported ($4.01) EPS for the quarter, missing analysts’ consensus estimates of ($2.22) by ($1.79), FiscalAI reports. The business had revenue of $10.84 million for the quarter.

Crescent Biopharma Trading Down 1.5%

Crescent Biopharma stock traded down $0.19 during mid-day trading on Thursday, reaching $12.30. The company had a trading volume of 55,656 shares, compared to its average volume of 195,694. The business has a fifty day simple moving average of $11.27 and a 200 day simple moving average of $12.44. Crescent Biopharma has a fifty-two week low of $8.72 and a fifty-two week high of $28.84. The company has a market cap of $170.85 million, a P/E ratio of -0.58 and a beta of 1.35.

Insider Activity at Crescent Biopharma

In other Crescent Biopharma news, Director Fairmount Funds Management Llc acquired 1,360,000 shares of the company’s stock in a transaction dated Thursday, December 4th. The shares were bought at an average cost of $13.41 per share, with a total value of $18,237,600.00. Following the purchase, the director directly owned 2,747,866 shares of the company’s stock, valued at $36,848,883.06. This trade represents a 97.99% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 4.00% of the company’s stock.

Hedge Funds Weigh In On Crescent Biopharma

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jefferies Financial Group Inc. purchased a new stake in shares of Crescent Biopharma in the 2nd quarter valued at $437,000. Affinity Asset Advisors LLC purchased a new position in Crescent Biopharma in the 2nd quarter worth approximately $4,520,000. Commodore Capital LP bought a new position in Crescent Biopharma during the 2nd quarter valued at about $7,322,000. Adage Capital Partners GP L.L.C. purchased a new position in shares of Crescent Biopharma in the 2nd quarter worth $1,629,000. Finally, Bank of America Corp DE bought a new stake in Crescent Biopharma during the second quarter valued at approximately $149,000. 75.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on CBIO shares. Weiss Ratings reissued a “sell (e-)” rating on shares of Crescent Biopharma in a research report on Monday, December 29th. Wall Street Zen lowered Crescent Biopharma from a “hold” rating to a “sell” rating in a research report on Saturday, January 31st. Guggenheim began coverage on Crescent Biopharma in a research report on Wednesday, January 21st. They set a “buy” rating and a $35.00 target price for the company. Stifel Nicolaus set a $32.00 price objective on Crescent Biopharma in a report on Thursday, December 4th. Finally, Piper Sandler assumed coverage on shares of Crescent Biopharma in a research report on Wednesday, January 28th. They issued an “overweight” rating and a $35.00 price objective for the company. Three analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Crescent Biopharma presently has a consensus rating of “Buy” and an average price target of $28.86.

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