Climb Bio’s (CLYM) Buy Rating Reiterated at BTIG Research

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

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Climb Bio (NASDAQ:CLYM)

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