Climb Bio, Inc. (NASDAQ:CLYM) Stock Rated “Buy” by Sell-Side Analysts

Shares of Climb Bio, Inc. (NASDAQ:CLYM) have been assigned an average recommendation of “Buy” from the fifteen analysts that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, twelve have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $28.14.

A number of research firms have issued reports on CLYM. Mizuho raised Climb Bio to a “strong-buy” rating in a research report on Wednesday, September 16th. HC Wainwright reissued a “buy” rating on shares of Climb Bio in a research report on Monday, October 12th. Royal Bank Of Canada started coverage on shares of Climb Bio in a research note on Monday, August 3rd. They set an “outperform” rating and a $23.00 target price on the stock. Piper Sandler reaffirmed an “overweight” rating on shares of Climb Bio in a report on Tuesday, October 27th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $32.00 target price on shares of Climb Bio in a report on Tuesday, October 27th.

Climb Bio Price Performance

Shares of CLYM stock traded down $0.51 during trading hours on Friday, hitting $10.36. The company had a trading volume of 667,815 shares, compared to its average volume of 1,365,029. The company’s fifty day moving average is $11.58 and its 200 day moving average is $10.63. Climb Bio has a fifty-two week low of $1.63 and a fifty-two week high of $18.33. The stock has a market capitalization of $608.55 million, a PE ratio of -12.63 and a beta of 0.01.

Climb Bio (NASDAQ:CLYM) last issued its quarterly earnings results on Thursday, November 5th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.02. Equities analysts forecast that Climb Bio will post -0.75 earnings per share for the current year.

Insider Buying and Selling

In other Climb Bio news, Director Stephen Thomas sold 100,000 shares of the stock in a transaction that occurred on Tuesday, September 15th. The shares were 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 approximately $6,397,136.23. This represents a 17.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 2.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Climb Bio

Several institutional investors have recently modified their holdings of the company. Marshall Wace LLP purchased a new position in Climb Bio in the third quarter valued at $6,406,000. Empowered Funds LLC acquired a new stake in Climb Bio in the third quarter valued at $265,000. First Trust Advisors LP acquired a new stake in Climb Bio in the third quarter valued at $490,000. State Street Corp lifted its holdings in Climb Bio by 34.7% during the 3rd quarter. State Street Corp now owns 1,850,010 shares of the company’s stock worth $21,220,000 after buying an additional 476,466 shares during the last quarter. Finally, Fisher Asset Management LLC purchased a new stake in Climb Bio during the 3rd quarter worth about $505,000. 69.76% of the stock is owned by hedge funds and other institutional investors.

Climb Bio Company Profile

Climb Bio is a clinical-stage biopharmaceutical company developing treatments for autoimmune and inflammatory diseases, with a focus on conditions involving B cells and antibody production. Its lead candidate, budoprutug, is an antibody designed to engage CD19 and Fc?RIIb to inhibit B-cell activity. The company is evaluating the candidate in clinical studies for immune-mediated diseases, including immune thrombocytopenia and membranous nephropathy. Climb Bio is also developing CLYM-116, an antibody targeting APRIL, a protein involved in B-cell and antibody activity.