Wall Street Zen Downgrades Climb Bio (NASDAQ:CLYM) to Sell

Climb Bio (NASDAQ:CLYM) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday, Wall Street Zen reports.

Several other analysts also recently issued reports on CLYM. B. Riley Financial restated a “buy” rating on shares of Climb Bio in a research note on Friday, September 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Climb Bio in a research report on Friday, July 17th. Piper Sandler set a $40.00 target price on Climb Bio and gave the stock an “overweight” rating in a report on Thursday, September 3rd. Robert W. Baird boosted their target price on shares of Climb Bio from $21.00 to $25.00 and gave the company an “outperform” rating in a research report on Thursday, September 3rd. Finally, Guggenheim assumed coverage on shares of Climb Bio in a research note on Monday, June 8th. They issued a “buy” rating and a $35.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $26.92.

Climb Bio Stock Performance

CLYM stock opened at $10.94 on Friday. The firm has a market capitalization of $628.39 million, a PE ratio of -13.18 and a beta of -0.04. Climb Bio has a 1-year low of $1.54 and a 1-year high of $18.33. The business’s 50 day simple moving average is $14.12 and its 200 day simple moving average is $11.75.

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

Insider Activity at Climb Bio

In related news, Director Stephen Thomas sold 100,000 shares of the company’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 transaction of $1,367,000.00. Following the completion of the transaction, the director directly owned 467,969 shares in the company, valued at $6,397,136.23. This represents a 17.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Spark Investment Management LLC bought a new stake in shares of Climb Bio during the 2nd quarter valued at about $177,000. Braidwell LP increased its stake in Climb Bio by 102.6% during the 2nd quarter. Braidwell LP now owns 3,099,027 shares of the company’s stock valued at $40,411,000 after purchasing an additional 1,569,352 shares in the last quarter. Wellington Management Group LLP acquired a new stake in shares of Climb Bio in the 2nd quarter worth about $1,262,000. Bank of America Corp DE purchased a new stake in shares of Climb Bio in the second quarter worth approximately $335,000. Finally, ADAR1 Capital Management LLC bought a new position in Climb Bio during the 2nd quarter valued at $10,727,000. 69.76% of the stock is owned by institutional investors and hedge funds.

Climb Bio Company Profile

Climb Bio, Inc is a clinical-stage biotechnology company focused on developing novel therapies for patients with immune-mediated diseases, including autoimmune disorders. The company’s research is centered on addressing underlying drivers of abnormal immune activity and developing treatments intended to provide durable disease control.

Climb Bio’s activities include the discovery, development and clinical evaluation of investigational biologic medicines. Its programs are designed to target pathways involved in B-cell function, autoantibody production and other mechanisms that contribute to autoimmune disease.