Insider Selling: Crescent Biopharma (NASDAQ:CBIO) COO Sells $13,084.90 in Stock

Crescent Biopharma, Inc. (NASDAQ:CBIO) COO Jonathan McNeill sold 731 shares of the business’s stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $17.90, for a total transaction of $13,084.90. Following the completion of the sale, the chief operating officer directly owned 138,427 shares of the company’s stock, valued at $2,477,843.30. The trade was a 0.53% decrease in their position. The transaction was disclosed in a legal filing 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.

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

• On Friday, September 18th, Jonathan McNeill sold 3,839 shares of Crescent Biopharma stock. The shares were sold at an average price of $16.71, for a total transaction of $64,149.69.
• On Monday, June 22nd, Jonathan McNeill sold 20,549 shares of Crescent Biopharma stock. The stock was sold at an average price of $17.99, for a total value of $369,676.51.

Crescent Biopharma Trading Up 0.7%

Crescent Biopharma stock traded up $0.12 during midday trading on Friday, hitting $16.89. The stock had a trading volume of 3,123,507 shares, compared to its average volume of 294,314. The stock has a market cap of $627.36 million, a P/E ratio of -2.51 and a beta of 1.24. Crescent Biopharma, Inc. has a 12 month low of $8.72 and a 12 month high of $27.41. The business has a fifty day moving average price of $17.12 and a 200 day moving average price of $17.43.

Crescent Biopharma (NASDAQ:CBIO) last released its earnings results on Thursday, July 30th. The biopharmaceutical company reported ($0.74) EPS for the quarter, hitting analysts’ consensus estimates of ($0.74). On average, equities analysts anticipate 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

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Crescent Biopharma

A number of hedge funds have recently added to or reduced their stakes in the stock. Opaleye Management Inc. boosted its holdings in shares of Crescent Biopharma by 0.5% during the second quarter. Opaleye Management Inc. now owns 1,319,351 shares of the biopharmaceutical company’s stock valued at $23,748,000 after acquiring an additional 6,736 shares during the period. Squarepoint Ops LLC acquired a new stake in shares of Crescent Biopharma in the 2nd quarter worth about $435,000. Wellington Management Group LLP acquired a new stake in shares of Crescent Biopharma in the 2nd quarter worth about $263,000. Stonepine Capital Management LLC bought a new stake in Crescent Biopharma in the 2nd quarter valued at about $720,000. Finally, Bank of America Corp DE bought a new stake in Crescent Biopharma in the 2nd quarter valued at about $465,000. 75.19% of the stock is currently owned by institutional investors.

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.