Climb Bio (NASDAQ:CLYM – Get Free Report) issued its earnings results on Thursday. The company reported ($0.18) EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.02, FiscalAI reports.
Climb Bio Price Performance
CLYM stock traded up $1.42 during mid-day trading on Friday, reaching $10.29. The company had a trading volume of 1,139,861 shares, compared to its average volume of 1,064,859. The stock has a 50 day simple moving average of $12.00 and a two-hundred day simple moving average of $10.44. Climb Bio has a 52 week low of $1.63 and a 52 week high of $18.33. The company has a market capitalization of $591.06 million, a price-to-earnings ratio of -12.40 and a beta of 0.01.
Insiders Place Their Bets
In other news, Director Stephen Thomas sold 100,000 shares of Climb Bio 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 completion of the sale, the director directly owned 467,969 shares in the company, valued at approximately $6,397,136.23. The trade was a 17.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.60% of the company’s stock.
Analyst Ratings Changes
Several research analysts have recently commented on the company. Wedbush boosted their target price on Climb Bio from $25.00 to $27.00 and gave the stock an “outperform” rating in a report on Thursday. Wall Street Zen lowered Climb Bio from a “hold” rating to a “sell” rating in a research note on Saturday, October 3rd. B. Riley Financial reiterated a “buy” rating on shares of Climb Bio in a research report on Friday, September 4th. Robert W. Baird upped their target price on shares of Climb Bio from $21.00 to $25.00 and gave the stock an “outperform” rating in a research report on Thursday, September 3rd. Finally, Guggenheim reiterated a “buy” rating on shares of Climb Bio in a research report on Monday, October 26th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $28.14.
Check Out Our Latest Analysis on Climb Bio
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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