Crescent Biopharma (NASDAQ:CBIO) Insider Jan Pinkas Sells 658 Shares of Stock

Crescent Biopharma, Inc. (NASDAQ:CBIO) insider Jan Pinkas sold 658 shares of the company’s stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $17.90, for a total value of $11,778.20. Following the completion of the transaction, the insider directly owned 21,581 shares in the company, valued at $386,299.90. This trade represents a 2.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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.

Jan Pinkas also recently made the following trade(s):

• On Monday, June 22nd, Jan Pinkas sold 1,288 shares of Crescent Biopharma stock. The stock was sold at an average price of $17.99, for a total value of $23,171.12.

Crescent Biopharma Trading Up 0.7%

NASDAQ:CBIO opened at $16.89 on Friday. The company has a market cap of $627.29 million, a price-to-earnings ratio of -2.51 and a beta of 1.24. Crescent Biopharma, Inc. has a twelve month low of $8.72 and a twelve month high of $27.41. The stock has a fifty day simple moving average of $17.12 and a 200-day simple moving average of $17.43.

Crescent Biopharma (NASDAQ:CBIO) last posted its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported ($0.74) EPS for the quarter, hitting analysts’ consensus estimates of ($0.74). As a group, equities research analysts predict that Crescent Biopharma, Inc. will post -2.91 EPS for the current fiscal year.

Institutional Trading of Crescent Biopharma

Institutional investors and hedge funds have recently made changes to their positions in the company. Legal & General Group Plc purchased a new stake in Crescent Biopharma in the second quarter worth about $38,000. Cannon Global Investment Management LLC purchased a new position in Crescent Biopharma during the 1st quarter valued at about $187,000. Persistent Asset Partners Ltd purchased a new position in Crescent Biopharma during the 2nd quarter valued at about $197,000. Wellington Management Group LLP purchased a new position in Crescent Biopharma during the 2nd quarter valued at about $263,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Crescent Biopharma in the 2nd quarter valued at about $320,000. 75.19% of the stock is currently owned by institutional investors.

Key Headlines Impacting Crescent Biopharma

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 Analyst Weigh In

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