Climb Bio (NASDAQ:CLYM – Get Free Report)‘s stock had its “buy” rating reaffirmed by equities research analysts at BTIG Research in a report released on Tuesday, Benzinga reports. They presently have a $32.00 target price on the stock. BTIG Research‘s target price points to a potential upside of 234.38% from the company’s previous close.
Several other brokerages also recently weighed in on CLYM. Oppenheimer raised their target price on shares of Climb Bio from $18.00 to $25.00 and gave the company an “outperform” rating in a research note on Tuesday, September 8th. HC Wainwright restated a “buy” rating on shares of Climb Bio in a research note on Monday, October 12th. Royal Bank Of Canada began coverage on shares of Climb Bio in a research note on Monday, August 3rd. They issued an “outperform” rating and a $23.00 target price for the company. Deutsche Bank Aktiengesellschaft began coverage on shares of Climb Bio in a research note on Tuesday, October 20th. They issued a “buy” rating and a $28.00 target price for the company. Finally, Piper Sandler set a $40.00 target price on shares of Climb Bio and gave the company an “overweight” rating in a research note on Thursday, September 3rd. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Climb Bio has an average rating of “Buy” and a consensus target price of $27.64.
Get Our Latest Research Report on CLYM
Climb Bio Stock Performance
CLYM traded up $0.76 during trading on Tuesday, hitting $9.57. The stock had a trading volume of 3,904,205 shares, compared to its average volume of 1,067,392. The company has a market capitalization of $549.70 million, a PE ratio of -11.53 and a beta of -0.04. Climb Bio has a twelve month low of $1.63 and a twelve month high of $18.33. The stock has a 50 day simple moving average of $13.18 and a two-hundred day simple moving average of $10.22.
Climb Bio (NASDAQ:CLYM – Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.03. On average, equities research analysts anticipate that Climb Bio will post -0.80 EPS for the current year.
Insider Activity
In other Climb Bio news, Director Stephen Thomas sold 100,000 shares of the firm’s stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $13.67, for a total value of $1,367,000.00. Following the completion of the transaction, the director owned 467,969 shares of the company’s stock, valued at approximately $6,397,136.23. This trade represents a 17.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.60% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in CLYM. Spark Investment Management LLC purchased a new position in shares of Climb Bio in the second quarter worth $177,000. Braidwell LP raised its holdings in shares of Climb Bio by 102.6% during the second quarter. Braidwell LP now owns 3,099,027 shares of the company’s stock worth $40,411,000 after purchasing an additional 1,569,352 shares during the last quarter. Wellington Management Group LLP purchased a new position in shares of Climb Bio during the second quarter worth $1,262,000. Bank of America Corp DE purchased a new position in shares of Climb Bio during the second quarter worth $335,000. Finally, ADAR1 Capital Management LLC purchased a new position in shares of Climb Bio during the second quarter worth $10,727,000. Hedge funds and other institutional investors own 69.76% of the company’s stock.
Climb Bio Company Profile
Climb Bio, Inc (NASDAQ: CLYM) is a clinical-stage biotechnology company focused on developing therapies for autoimmune diseases. The company is working to create medicines that target B cells, which play a central role in the immune responses associated with many autoimmune disorders.
Climb Bio’s lead investigational product, CLYM116, is a fully human anti-CD19 monoclonal antibody designed to selectively deplete B cells. The therapy is being evaluated in clinical development for autoimmune conditions, including primary membranous nephropathy, a kidney disorder in which abnormal immune activity can damage the kidneys.
As a development-stage biotechnology company, Climb Bio’s activities are centered on research, clinical trials and the potential commercialization of its pipeline rather than on marketed products.
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