Climb Bio (NASDAQ:CLYM) Issues Quarterly Earnings Results

Climb Bio (NASDAQ:CLYM) issued its quarterly earnings data on Thursday. The company reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.02, FiscalAI reports.

Climb Bio Stock Up 16.0%

Shares of NASDAQ CLYM traded up $1.42 on Friday, reaching $10.29. 1,139,861 shares of the company’s stock traded hands, compared to its average volume of 1,162,192. Climb Bio has a 12 month low of $1.63 and a 12 month high of $18.33. The business’s 50 day simple moving average is $11.91 and its two-hundred day simple moving average is $10.47. The company has a market cap of $591.06 million, a price-to-earnings ratio of -12.55 and a beta of 0.01.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CLYM. Oppenheimer increased their target price on Climb Bio from $18.00 to $25.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 8th. Wedbush raised their target price on Climb Bio from $25.00 to $27.00 and gave the company an “outperform” rating in a research note on Thursday. Weiss Ratings restated a “sell (d-)” rating on shares of Climb Bio in a research report on Thursday, October 15th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Climb Bio in a research note on Thursday. Finally, Guggenheim reissued a “buy” rating on shares of Climb Bio in a research report on Monday, October 26th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Climb Bio has an average rating of “Buy” and a consensus price target of $28.14.

Insider Activity

In other news, Director Stephen Thomas sold 100,000 shares of the business’s stock in a transaction that occurred on 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 sale, the director directly 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 document filed with the SEC, which is available through the SEC website. Insiders own 2.60% of the company’s stock.

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.