Climb Bio (NASDAQ:CLYM – Get Free Report) was upgraded by equities research analysts at Mizuho to a “strong-buy” rating in a research note issued to investors on Wednesday, Zacks reports.
Other equities research analysts also recently issued reports about the stock. Royal Bank Of Canada started coverage on shares of Climb Bio in a report on Monday, August 3rd. They set an “outperform” rating and a $23.00 price objective on the stock. B Riley reiterated a “buy” rating on shares of Climb Bio in a research note on Friday, September 4th. HC Wainwright lifted their target price on shares of Climb Bio from $24.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, September 8th. B. Riley Financial reissued a “buy” rating and issued a $30.00 price target (up from $26.00) on shares of Climb Bio in a research report on Friday, September 4th. Finally, Wedbush restated an “outperform” rating and set a $20.00 price target on shares of Climb Bio in a research note on Wednesday, August 19th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $26.92.
Read Our Latest Research Report on CLYM
Climb Bio Price Performance
Climb Bio (NASDAQ:CLYM – Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.18) earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.03. Sell-side analysts anticipate that Climb Bio will post -0.78 earnings per share for the current fiscal year.
Insider Transactions at Climb Bio
In other Climb Bio news, Director Stephen Basil Thomas sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The stock was 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 in the company, valued at $6,397,136.23. This trade represents a 17.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.60% of the company’s stock.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the stock. Braidwell LP lifted its holdings in shares of Climb Bio by 102.6% in the second quarter. Braidwell LP now owns 3,099,027 shares of the company’s stock worth $40,411,000 after buying an additional 1,569,352 shares in the last quarter. BlackRock Inc. purchased a new position in Climb Bio during the second quarter valued at approximately $30,708,000. ADAR1 Capital Management LLC purchased a new position in Climb Bio during the second quarter valued at approximately $10,727,000. Parkman Healthcare Partners LLC purchased a new position in Climb Bio during the second quarter valued at approximately $7,348,000. Finally, The Manufacturers Life Insurance Company bought a new stake in Climb Bio during the 2nd quarter worth approximately $2,148,000. Hedge funds and other institutional investors own 69.76% of the company’s stock.
About Climb Bio
Climb Bio, Inc (NASDAQ: CLYM) is a clinical-stage biotechnology company focused on developing therapies for immune-mediated diseases. The company’s research is centered on treatments intended to address conditions in which abnormal B-cell activity contributes to disease.
Climb Bio’s lead investigational program, CLYM-001, is a CD19-directed antibody designed to target and deplete B cells. The candidate is being developed for potential use in autoimmune and other immune-mediated disorders.
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