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

Climb Bio (NASDAQ:CLYM)‘s stock had its “buy” rating reissued by equities researchers at BTIG Research in a report issued on Tuesday, Benzinga reports. They presently have a $32.00 price objective on the stock. BTIG Research‘s price objective points to a potential upside of 230.03% from the stock’s current price.

A number of other research analysts also recently commented on the company. Wall Street Zen downgraded Climb Bio from a “hold” rating to a “sell” rating in a research note on Saturday, October 3rd. B. Riley Financial restated a “buy” rating on shares of Climb Bio in a research note on Friday, September 4th. Raymond James Financial restated a “strong-buy” rating and set a $34.00 price objective on shares of Climb Bio in a research note on Monday, October 5th. Oppenheimer upped their price objective on Climb Bio from $18.00 to $25.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 8th. Finally, Robert W. Baird upped their price objective on Climb Bio from $21.00 to $25.00 and gave the stock an “outperform” rating in a research note on Thursday, September 3rd. Two investment 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $27.64.

Climb Bio Stock Performance

Shares of NASDAQ CLYM traded up $0.89 during trading on Tuesday, reaching $9.70. The stock had a trading volume of 2,710,822 shares, compared to its average volume of 1,060,894. Climb Bio has a one year low of $1.63 and a one year high of $18.33. The stock has a market cap of $556.94 million, a PE ratio of -11.70 and a beta of -0.04. The firm’s 50 day moving average price is $13.18 and its two-hundred day moving average price is $10.22.

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

Insider Buying and Selling

In other Climb Bio news, Director Stephen Thomas sold 100,000 shares of the business’s stock in a transaction on Tuesday, September 15th. The stock was 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 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Braidwell LP boosted its position in Climb Bio by 102.6% during the 2nd quarter. Braidwell LP now owns 3,099,027 shares of the company’s stock worth $40,411,000 after acquiring an additional 1,569,352 shares during the period. BlackRock Inc. acquired a new position in Climb Bio during the 2nd quarter worth $30,708,000. ADAR1 Capital Management LLC acquired a new position in Climb Bio during the 2nd quarter worth $10,727,000. Parkman Healthcare Partners LLC acquired a new position in Climb Bio during the 2nd quarter worth $7,348,000. Finally, The Manufacturers Life Insurance Company acquired a new position in Climb Bio during the 2nd quarter worth $2,148,000. Institutional investors and hedge funds 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 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.