Climb Bio, Inc. (NASDAQ:CLYM – Get Free Report) shares dropped 9.1% during mid-day trading on Wednesday. The stock traded as low as $13.02 and last traded at $12.92. 244,301 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 1,030,748 shares. The stock had previously closed at $14.21.
Analysts Set New Price Targets
Several research analysts have recently weighed in on CLYM shares. Piper Sandler set a $40.00 price target on shares of Climb Bio and gave the company an “overweight” rating in a report on Thursday, September 3rd. Robert W. Baird boosted their price target on Climb Bio from $21.00 to $25.00 and gave the stock an “outperform” rating in a research report on Thursday, September 3rd. Oppenheimer upped their price objective on Climb Bio from $18.00 to $25.00 and gave the company an “outperform” rating in a research note on Tuesday, September 8th. B. Riley Financial reiterated a “buy” rating on shares of Climb Bio in a research note on Friday, September 4th. Finally, Royal Bank Of Canada began coverage on Climb Bio in a research note on Monday, August 3rd. They issued an “outperform” rating and a $23.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Climb Bio has a consensus rating of “Buy” and an average target price of $26.92.
View Our Latest Stock Analysis on Climb Bio
Climb Bio Price Performance
Climb Bio (NASDAQ:CLYM – Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.03. Research analysts expect that Climb Bio, Inc. will post -0.78 earnings per share for the current year.
Insiders Place Their Bets
In other Climb Bio news, Director Stephen Thomas sold 100,000 shares of Climb Bio stock in a transaction dated 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 sale, the director owned 467,969 shares in the company, valued at $6,397,136.23. The trade was a 17.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.60% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in the business. Legal & General Group Plc bought a new stake in shares of Climb Bio during the 2nd quarter worth approximately $45,000. Spark Investment Management LLC acquired a new position in Climb Bio during the second quarter valued at approximately $177,000. State of Wyoming bought a new stake in Climb Bio during the second quarter worth $187,000. The Manufacturers Life Insurance Company boosted its holdings in shares of Climb Bio by 11.2% in the 1st quarter. The Manufacturers Life Insurance Company now owns 156,317 shares of the company’s stock valued at $1,071,000 after purchasing an additional 15,700 shares in the last quarter. Finally, Bank of America Corp DE bought a new position in shares of Climb Bio in the 2nd quarter valued at $335,000. 69.76% of the stock is owned by institutional investors.
Climb Bio Company Profile
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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