Climb Bio, Inc. (NASDAQ:CLYM) Stock Has Consensus Target Price of $27.62

Climb Bio, Inc. (NASDAQ:CLYM) has received an average rating of “Buy” from the fifteen analysts that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, twelve have given a buy rating and two have issued a strong buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $27.62.

Several research analysts recently weighed in on CLYM shares. Wedbush reaffirmed an “outperform” rating and issued a $20.00 target price on shares of Climb Bio in a report on Wednesday, August 19th. Robert W. Baird increased their price target on Climb Bio from $21.00 to $25.00 and gave the stock an “outperform” rating in a research note on Thursday, September 3rd. B. Riley Financial reissued a “buy” rating on shares of Climb Bio in a report on Friday, September 4th. Raymond James Financial restated a “strong-buy” rating and issued a $34.00 price objective on shares of Climb Bio in a research report on Monday, October 5th. Finally, Wall Street Zen downgraded Climb Bio from a “hold” rating to a “sell” rating in a research report on Saturday, October 3rd.

Insider Activity

In other news, Director Stephen Thomas sold 100,000 shares of the business’s stock in a transaction 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 transaction, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Climb Bio

Several institutional investors have recently bought and sold shares of the stock. Spark Investment Management LLC bought a new stake in Climb Bio in the 2nd quarter valued at $177,000. Braidwell LP lifted its stake in Climb Bio by 102.6% in the 2nd quarter. Braidwell LP now owns 3,099,027 shares of the company’s stock worth $40,411,000 after purchasing an additional 1,569,352 shares in the last quarter. Wellington Management Group LLP bought a new position in shares of Climb Bio during the 2nd quarter valued at about $1,262,000. Bank of America Corp DE bought a new position in shares of Climb Bio during the 2nd quarter valued at about $335,000. Finally, ADAR1 Capital Management LLC purchased a new position in shares of Climb Bio during the second quarter valued at about $10,727,000. 69.76% of the stock is owned by hedge funds and other institutional investors.

Climb Bio Trading Down 4.8%

Shares of NASDAQ CLYM opened at $10.31 on Wednesday. The firm has a 50 day moving average of $13.92 and a 200 day moving average of $11.94. The firm has a market capitalization of $592.21 million, a price-to-earnings ratio of -12.42 and a beta of -0.04. Climb Bio has a 12-month low of $1.63 and a 12-month high of $18.33.

Climb Bio (NASDAQ:CLYM) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.03. Sell-side analysts predict that Climb Bio will post -0.78 EPS for the current year.

Climb Bio Company Profile

Climb Bio, Inc is a clinical-stage biotechnology company focused on developing novel therapies for patients with immune-mediated diseases, including autoimmune disorders. The company’s research is centered on addressing underlying drivers of abnormal immune activity and developing treatments intended to provide durable disease control.

Climb Bio’s activities include the discovery, development and clinical evaluation of investigational biologic medicines. Its programs are designed to target pathways involved in B-cell function, autoantibody production and other mechanisms that contribute to autoimmune disease.