Climb Bio (NASDAQ:CLYM) Rating Lowered to Sell at Wall Street Zen

Climb Bio (NASDAQ:CLYM) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Sunday.

Several other equities research analysts have also recently weighed in on the stock. Oppenheimer initiated coverage on shares of Climb Bio in a research report on Friday, June 6th. They set an “outperform” rating and a $10.00 price target for the company. BTIG Research reaffirmed a “buy” rating and issued a $7.00 target price on shares of Climb Bio in a research report on Monday, September 22nd. Baird R W raised shares of Climb Bio to a “strong-buy” rating in a research report on Friday, August 15th. Finally, Robert W. Baird initiated coverage on shares of Climb Bio in a research report on Friday, August 15th. They issued an “outperform” rating and a $9.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating and four have issued a Buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $9.00.

Climb Bio Stock Down 6.6%

Shares of CLYM opened at $1.99 on Friday. The stock has a market capitalization of $134.84 million, a P/E ratio of -2.84 and a beta of -0.05. The firm has a fifty day simple moving average of $2.00 and a two-hundred day simple moving average of $1.52. Climb Bio has a twelve month low of $1.05 and a twelve month high of $5.86.

Climb Bio (NASDAQ:CLYM) last announced its quarterly earnings results on Tuesday, August 12th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.06. Sell-side analysts expect that Climb Bio will post -1.57 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. AQR Capital Management LLC bought a new stake in Climb Bio during the 1st quarter valued at about $27,000. XTX Topco Ltd bought a new stake in Climb Bio during the 1st quarter valued at about $34,000. Qube Research & Technologies Ltd bought a new stake in Climb Bio during the 2nd quarter valued at about $43,000. Marshall Wace LLP bought a new stake in Climb Bio during the 2nd quarter valued at about $46,000. Finally, Nuveen LLC bought a new stake in Climb Bio during the 1st quarter valued at about $48,000. 69.76% of the stock is owned by hedge funds and other institutional investors.

About Climb Bio

Climb Bio Inc is a clinical-stage biotechnology company developing therapeutics for patients with immune-mediated diseases. The Company’s lead product candidate, budoprutug, is an anti-CD19 monoclonal antibody which has demonstrated B-cell depletion and has potential to treat a broad range of B-cell mediated diseases.