Brokerages Set Climb Bio, Inc. (NASDAQ:CLYM) Price Target at $26.92

Shares of Climb Bio, Inc. (NASDAQ:CLYM) have been given an average rating of “Buy” by the fifteen research firms that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $26.9231.

CLYM has been the topic of a number of recent analyst reports. Mizuho upgraded Climb Bio to a “strong-buy” rating in a report on Wednesday, September 16th. Piper Sandler set a $40.00 target price on Climb Bio and gave the company an “overweight” rating in a research report on Thursday, September 3rd. B. Riley Financial reaffirmed a “buy” rating on shares of Climb Bio in a research note on Friday, September 4th. Truist Financial increased their price target on Climb Bio from $17.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Climb Bio in a research report on Friday, July 17th.

Climb Bio Trading Down 11.9%

CLYM stock opened at $12.52 on Friday. The company has a market cap of $719.10 million, a price-to-earnings ratio of -15.08 and a beta of 0.09. Climb Bio has a 12 month low of $1.54 and a 12 month high of $18.33. The firm has a 50-day moving average of $14.29 and a two-hundred day moving average of $11.54.

Climb Bio (NASDAQ:CLYM) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.03. As a group, equities analysts forecast that Climb Bio will post -0.78 earnings per share for the current year.

Insider Activity at Climb Bio

In other news, Director Stephen Thomas sold 100,000 shares of Climb Bio stock in a transaction on Tuesday, September 15th. The stock was 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 of the company’s stock, valued at approximately $6,397,136.23. The trade was a 17.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Climb Bio

Institutional investors and hedge funds have recently modified their holdings of the company. Legal & General Group Plc purchased a new stake in Climb Bio during the second quarter worth about $45,000. Spark Investment Management LLC purchased a new position in shares of Climb Bio in the second quarter valued at approximately $177,000. State of Wyoming acquired a new position in shares of Climb Bio in the second quarter valued at approximately $187,000. Seven Fleet Capital Management LP acquired a new position in shares of Climb Bio in the fourth quarter valued at approximately $306,000. Finally, Bank of America Corp DE purchased a new stake in Climb Bio during the 2nd quarter worth approximately $335,000. Hedge funds and other institutional investors own 69.76% of the company’s stock.

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.