Climb Bio, Inc. (NASDAQ:CLYM) Stock Rated “Buy” by Wall Street Brokerages

Climb Bio, Inc. (NASDAQ:CLYM) has been given a consensus rating of “Buy” by the fifteen analysts that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, twelve have given a buy rating and two have given a strong buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $28.14.

Several analysts have commented on the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of Climb Bio in a research note on Tuesday, October 20th. They set a “buy” rating and a $28.00 price objective for the company. Wall Street Zen upgraded shares of Climb Bio from a “sell” rating to a “hold” rating in a research note on Saturday. Raymond James Financial reissued a “strong-buy” rating on shares of Climb Bio in a report on Thursday. Truist Financial boosted their target price on shares of Climb Bio from $17.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Climb Bio in a report on Monday, October 12th.

Climb Bio Stock Up 16.0%

Climb Bio stock opened at $10.29 on Friday. The stock has a 50-day moving average price of $11.91 and a 200 day moving average price of $10.47. The company has a market capitalization of $591.06 million, a price-to-earnings ratio of -12.55 and a beta of 0.01. Climb Bio has a 52 week low of $1.63 and a 52 week high of $18.33.

Climb Bio (NASDAQ:CLYM) last issued its quarterly earnings results on Thursday, November 5th. The company reported ($0.18) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.02. Research analysts anticipate that Climb Bio will post -0.79 EPS for the current fiscal year.

Insider Buying and Selling at Climb Bio

In other news, Director Stephen Thomas sold 100,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the director owned 467,969 shares of the company’s stock, valued at $6,397,136.23. The trade was a 17.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 2.60% of the company’s stock.

Institutional Trading of Climb Bio

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Fisher Asset Management LLC purchased a new position in Climb Bio during the third quarter valued at approximately $505,000. Nan Fung Trinity HK Ltd. boosted its position in Climb Bio by 212.3% in the 3rd quarter. Nan Fung Trinity HK Ltd. now owns 360,654 shares of the company’s stock worth $4,137,000 after purchasing an additional 245,160 shares in the last quarter. Fifth Third Bancorp boosted its position in Climb Bio by 10.1% in the 3rd quarter. Fifth Third Bancorp now owns 181,510 shares of the company’s stock worth $2,082,000 after purchasing an additional 16,587 shares in the last quarter. Jefferies Financial Group Inc. acquired a new stake in shares of Climb Bio during the 3rd quarter worth approximately $3,336,000. Finally, Alps Advisors Inc. grew its stake in shares of Climb Bio by 30.9% during the 3rd quarter. Alps Advisors Inc. now owns 76,109 shares of the company’s stock worth $873,000 after purchasing an additional 17,988 shares during the period. 69.76% of the stock is owned by institutional investors and hedge funds.

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.