Climb Bio (NASDAQ:CLYM) Earns Buy Rating from BTIG Research

Climb Bio (NASDAQ:CLYM)‘s stock had its “buy” rating reissued by BTIG Research in a research report issued on Tuesday, Benzinga reports. They presently have a $32.00 target price on the stock. BTIG Research‘s price target would suggest a potential upside of 221.48% from the company’s current price.

Other research analysts also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft assumed coverage on Climb Bio in a research note on Tuesday, October 20th. They issued a “buy” rating and a $28.00 target price for the company. Oppenheimer raised their target price on Climb Bio from $18.00 to $25.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 8th. B. Riley Financial restated a “buy” rating on shares of Climb Bio in a research note on Friday, September 4th. Wedbush reiterated an “outperform” rating and set a $20.00 price target on shares of Climb Bio in a research report on Wednesday, August 19th. Finally, Mizuho upgraded Climb Bio to a “strong-buy” rating in a research report on Wednesday, September 16th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $27.64.

Climb Bio Stock Performance

NASDAQ CLYM traded up $1.14 during trading hours on Tuesday, hitting $9.95. The company had a trading volume of 1,522,816 shares, compared to its average volume of 1,055,503. Climb Bio has a 52 week low of $1.63 and a 52 week high of $18.33. The firm has a 50 day simple moving average of $13.18 and a 200 day simple moving average of $10.22. The firm has a market capitalization of $571.76 million, a price-to-earnings ratio of -12.03 and a beta of -0.04.

Climb Bio (NASDAQ:CLYM) last issued its earnings results on Thursday, August 6th. The company reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.03. On average, research analysts forecast that Climb Bio will post -0.80 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Stephen Thomas sold 100,000 shares of the 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 transaction, the director owned 467,969 shares of the company’s stock, valued at $6,397,136.23. This represents a 17.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CLYM. Braidwell LP grew its position in Climb Bio by 102.6% during the second quarter. Braidwell LP now owns 3,099,027 shares of the company’s stock valued at $40,411,000 after acquiring an additional 1,569,352 shares during the last quarter. BlackRock Inc. purchased a new position in shares of Climb Bio during the second quarter worth approximately $30,708,000. ADAR1 Capital Management LLC purchased a new position in shares of Climb Bio during the second quarter worth approximately $10,727,000. Parkman Healthcare Partners LLC purchased a new position in shares of Climb Bio during the second quarter worth approximately $7,348,000. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Climb Bio during the second quarter worth approximately $2,148,000. Institutional investors own 69.76% of the company’s stock.

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.