Climb Bio (NASDAQ:CLYM) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Climb Bio (NASDAQ:CLYM) from a sell rating to a hold rating in a report released on Saturday,Wall Street Zen reports.

Several other research firms also recently issued reports on CLYM. HC Wainwright restated a “buy” rating on shares of Climb Bio in a report on Monday, October 12th. Piper Sandler reaffirmed an “overweight” rating on shares of Climb Bio in a research report on Tuesday, October 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Climb Bio in a research note on Thursday, October 15th. Raymond James Financial reissued a “strong-buy” rating on shares of Climb Bio in a research report on Thursday. Finally, Robert W. Baird raised their price target on shares of Climb Bio from $21.00 to $25.00 and gave the stock an “outperform” rating in a research report on Thursday, September 3rd. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $28.14.

Climb Bio Price Performance

Shares of Climb Bio stock opened at $10.29 on Friday. Climb Bio has a 1-year low of $1.63 and a 1-year high of $18.33. The company has a market capitalization of $591.06 million, a PE ratio of -12.55 and a beta of 0.01. The business has a 50-day moving average of $11.91 and a 200-day moving average of $10.47.

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

Insider Activity at Climb Bio

In other news, Director Stephen Thomas sold 100,000 shares of the 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.60% of the company’s stock.

Institutional Trading of Climb Bio

Several institutional investors and hedge funds have recently bought and sold shares of the company. Braidwell LP lifted its holdings 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 buying an additional 1,569,352 shares during the last quarter. BlackRock Inc. bought a new stake in shares of Climb Bio in the 2nd quarter valued at approximately $30,708,000. ADAR1 Capital Management LLC bought a new stake in shares of Climb Bio in the 2nd quarter valued at approximately $10,727,000. Parkman Healthcare Partners LLC acquired a new stake in shares of Climb Bio during the 2nd quarter valued at approximately $7,348,000. Finally, Nan Fung Trinity HK Ltd. raised its position in shares of Climb Bio by 212.3% during the 3rd quarter. Nan Fung Trinity HK Ltd. now owns 360,654 shares of the company’s stock valued at $4,137,000 after acquiring an additional 245,160 shares in the last quarter. 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.