Climb Bio’s (CLYM) “Buy” Rating Reiterated at BTIG Research

Climb Bio (NASDAQ:CLYM)‘s stock had its “buy” rating reiterated by investment analysts at BTIG Research in a note issued to investors on Tuesday, Benzinga reports. They presently have a $32.00 price target on the stock. BTIG Research‘s price target would indicate a potential upside of 217.65% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on CLYM. Raymond James Financial restated a “strong-buy” rating and issued a $34.00 price objective on shares of Climb Bio in a report on Monday, October 5th. Guggenheim restated a “buy” rating on shares of Climb Bio in a research note on Monday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Climb Bio in a research report on Thursday, October 15th. Truist Financial upped their price target on Climb Bio from $17.00 to $25.00 and gave the company a “buy” rating in a report on Friday, August 7th. Finally, B. Riley Financial reissued a “buy” rating on shares of Climb Bio in a report on Friday, September 4th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $27.64.

Climb Bio Price Performance

NASDAQ CLYM traded up $1.26 during trading on Tuesday, hitting $10.07. 2,266,348 shares of the company’s stock traded hands, compared to its average volume of 1,057,862. The firm has a market cap of $578.65 million, a P/E ratio of -12.06 and a beta of -0.04. The stock has a fifty day moving average of $13.18 and a two-hundred day moving average of $10.22. Climb Bio has a 12-month low of $1.63 and a 12-month high of $18.33.

Climb Bio (NASDAQ:CLYM) last released its quarterly earnings data 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, analysts expect that Climb Bio will post -0.80 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 firm’s stock in a transaction dated 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 transaction, the director owned 467,969 shares of the company’s stock, valued at approximately $6,397,136.23. This trade represents a 17.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Spark Investment Management LLC acquired a new stake in shares of Climb Bio in the second quarter valued at about $177,000. Braidwell LP grew its position in Climb Bio by 102.6% in the 2nd 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 in the last quarter. Wellington Management Group LLP acquired a new stake in shares of Climb Bio in the second quarter valued at $1,262,000. Bank of America Corp DE purchased a new position in Climb Bio in the second quarter worth approximately $335,000. Finally, ADAR1 Capital Management LLC purchased a new stake in Climb Bio during the second quarter worth approximately $10,727,000. 69.76% of the stock is currently owned by institutional investors and hedge funds.

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.