Climb Bio, Inc. (NASDAQ:CLYM) Stock Rated “Buy” by Sell-Side Analysts

Climb Bio, Inc. (NASDAQ:CLYM) has earned an average recommendation of “Buy” from the fifteen analysts that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $27.64.

A number of research firms have issued reports on CLYM. Wedbush reiterated an “outperform” rating and set a $20.00 target price on shares of Climb Bio in a report on Wednesday, August 19th. HC Wainwright restated a “buy” rating on shares of Climb Bio in a report on Monday, October 12th. Deutsche Bank Aktiengesellschaft began coverage on Climb Bio in a report on Tuesday. They issued a “buy” rating and a $28.00 price target on the stock. Mizuho raised Climb Bio to a “strong-buy” rating in a research report on Wednesday, September 16th. Finally, BTIG Research upped their price objective on Climb Bio from $20.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, September 3rd.

Climb Bio Stock Performance

Shares of CLYM opened at $10.80 on Wednesday. The firm has a market cap of $620.35 million, a P/E ratio of -13.01 and a beta of -0.04. Climb Bio has a twelve month low of $1.63 and a twelve month high of $18.33. The firm’s 50 day moving average price is $13.59 and its two-hundred day moving average price is $12.06.

Climb Bio (NASDAQ:CLYM) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.03. On average, sell-side analysts anticipate that Climb Bio will post -0.78 earnings per share for the current fiscal year.

Insider Transactions at Climb Bio

In other Climb Bio news, Director Stephen Thomas sold 100,000 shares of the business’s stock in a transaction that occurred 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 sale, the director owned 467,969 shares in the company, valued at approximately $6,397,136.23. The trade was a 17.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Climb Bio

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

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.