Climb Bio (NASDAQ:CLYM – Get Free Report)‘s stock had its “buy” rating reaffirmed by analysts at BTIG Research in a research report issued on Tuesday, Benzinga reports. They presently have a $32.00 target price on the stock. BTIG Research‘s target price would indicate a potential upside of 234.38% from the stock’s current price.
Other analysts have also issued reports about the company. Royal Bank Of Canada initiated coverage on Climb Bio in a report on Monday, August 3rd. They set an “outperform” rating and a $23.00 price target on the stock. Raymond James Financial restated a “strong-buy” rating and issued a $34.00 price objective on shares of Climb Bio in a research note on Monday, October 5th. Wedbush reiterated an “outperform” rating and set a $20.00 target price on shares of Climb Bio in a research note on Wednesday, August 19th. HC Wainwright reissued a “buy” rating on shares of Climb Bio in a report on Monday, October 12th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Climb Bio in a research report on Tuesday, October 20th. They set a “buy” rating and a $28.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $27.64.
Check Out Our Latest Report on Climb Bio
Climb Bio Stock Up 8.6%
NASDAQ:CLYM traded up $0.76 during trading hours on Tuesday, hitting $9.57. 3,904,209 shares of the company traded hands, compared to its average volume of 1,067,392. The firm’s 50-day simple moving average is $13.18 and its 200-day simple moving average is $10.22. Climb Bio has a one year low of $1.63 and a one year high of $18.33. The company has a market cap of $549.66 million, a PE ratio of -11.53 and a beta of -0.04.
Climb Bio (NASDAQ:CLYM – Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.21) by $0.03. As a group, equities research analysts expect that Climb Bio will post -0.80 EPS for the current year.
Insider Buying and Selling at Climb Bio
In other news, Director Stephen Thomas sold 100,000 shares of the business’s stock in a transaction that occurred 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 sale, the director owned 467,969 shares of the company’s stock, valued at $6,397,136.23. The trade was a 17.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 2.60% of the stock is owned by insiders.
Institutional Investors Weigh In On Climb Bio
Institutional investors have recently made changes to their positions in the stock. Legal & General Group Plc purchased a new stake in shares of Climb Bio during the second quarter worth $45,000. Spark Investment Management LLC purchased a new stake in shares of Climb Bio during the second quarter worth $177,000. State of Wyoming purchased a new stake in shares of Climb Bio during the second quarter worth $187,000. Bank of America Corp DE purchased a new stake in shares of Climb Bio during the second quarter worth $335,000. Finally, Deutsche Bank AG purchased a new stake in shares of Climb Bio during the second quarter worth $452,000. 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 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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