Wall Street Zen upgraded shares of Climb Bio (NASDAQ:CLYM – Free Report) from a sell rating to a hold rating in a research note issued to investors on Saturday morning,Wall Street Zen reports.
Other analysts also recently issued reports about the company. Truist Financial raised their target price on Climb Bio from $17.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Robert W. Baird boosted their target price on Climb Bio from $21.00 to $25.00 and gave the company an “outperform” rating in a research note on Thursday, September 3rd. Wedbush upped their price target on Climb Bio from $25.00 to $27.00 and gave the company an “outperform” rating in a research report on Thursday. HC Wainwright reiterated a “buy” rating on shares of Climb Bio in a research note on Monday, October 12th. Finally, Guggenheim reissued a “buy” rating on shares of Climb Bio in a report on Monday, October 26th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $28.14.
View Our Latest Research Report on Climb Bio
Climb Bio Stock Up 7.0%
Shares of CLYM stock opened at $11.01 on Friday. The company has a 50 day moving average of $11.84 and a 200-day moving average of $10.50. Climb Bio has a 12-month low of $1.63 and a 12-month high of $18.33. The firm has a market cap of $632.41 million, a P/E ratio of -13.43 and a beta of 0.01.
Climb Bio (NASDAQ:CLYM – Get Free Report) last posted its quarterly earnings results on Thursday, November 5th. The company reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.02. As a group, equities analysts expect that Climb Bio will post -0.79 EPS for the current year.
Insider Activity
In other Climb Bio news, Director Stephen Thomas sold 100,000 shares of the stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $13.67, for a total transaction of $1,367,000.00. Following the sale, the director owned 467,969 shares in the company, valued at $6,397,136.23. This represents a 17.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.60% of the stock is currently owned by corporate insiders.
Institutional Trading of Climb Bio
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Braidwell LP lifted its holdings in Climb Bio by 102.6% during the 2nd 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 in the last quarter. BlackRock Inc. bought a new position in Climb Bio in the 2nd quarter worth about $30,708,000. ADAR1 Capital Management LLC purchased a new position in Climb Bio during the 2nd quarter valued at about $10,727,000. Parkman Healthcare Partners LLC purchased a new position in Climb Bio during the 2nd quarter valued at about $7,348,000. Finally, Nan Fung Trinity HK Ltd. grew its holdings in Climb Bio by 212.3% during the 3rd quarter. Nan Fung Trinity HK Ltd. now owns 360,654 shares of the company’s stock valued at $4,137,000 after buying an additional 245,160 shares in the last quarter. 69.76% of the stock is currently owned by institutional investors.
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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