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

Climb Bio (NASDAQ:CLYM)‘s stock had its “buy” rating reaffirmed by research analysts at BTIG Research in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $32.00 target price on the stock. BTIG Research‘s target price points to a potential upside of 222.09% from the company’s current price.

CLYM has been the subject of a number of other research reports. Wedbush reaffirmed an “outperform” rating and issued a $20.00 price objective on shares of Climb Bio in a research report on Wednesday, August 19th. Deutsche Bank Aktiengesellschaft started coverage on Climb Bio in a research report on Tuesday, October 20th. They issued a “buy” rating and a $28.00 price objective for the company. Mizuho raised Climb Bio to a “strong-buy” rating in a research report on Wednesday, September 16th. Guggenheim reaffirmed a “buy” rating on shares of Climb Bio in a research report on Monday. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and issued a $34.00 price objective on shares of Climb Bio in a research report on Monday, October 5th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $27.64.

Climb Bio Trading Up 12.8%

Shares of NASDAQ CLYM traded up $1.13 during trading on Tuesday, reaching $9.94. The company had a trading volume of 2,464,436 shares, compared to its average volume of 1,060,040. Climb Bio has a twelve month low of $1.63 and a twelve month high of $18.33. The stock has a market capitalization of $570.67 million, a PE ratio of -11.98 and a beta of -0.04. The stock has a 50-day moving average price of $13.18 and a two-hundred day moving average price of $10.22.

Climb Bio (NASDAQ:CLYM) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.18) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.03. On average, sell-side analysts predict that Climb Bio will post -0.80 EPS for the current 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 dated 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 sale, the director owned 467,969 shares of the company’s stock, valued at approximately $6,397,136.23. The trade was 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 accessible through this hyperlink. Company insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Climb Bio

Several institutional investors and hedge funds have recently modified their holdings of CLYM. Spark Investment Management LLC purchased a new stake in shares of Climb Bio in the second quarter worth about $177,000. Braidwell LP lifted its stake 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 acquiring an additional 1,569,352 shares in the last quarter. Wellington Management Group LLP acquired a new position in shares of Climb Bio in the second quarter worth about $1,262,000. Bank of America Corp DE acquired a new position in shares of Climb Bio in the second quarter worth about $335,000. Finally, ADAR1 Capital Management LLC acquired a new position in shares of Climb Bio in the second quarter worth about $10,727,000. Hedge funds and other institutional investors 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.