Climb Bio (NASDAQ:CLYM) Research Coverage Started at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft started coverage on shares of Climb Bio (NASDAQ:CLYM) in a research report report published on Tuesday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $28.00 price objective on the stock.

Several other equities research analysts have also commented on CLYM. BTIG Research upped their price target on shares of Climb Bio from $20.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, September 3rd. Mizuho raised shares of Climb Bio to a “strong-buy” rating in a report on Wednesday, September 16th. Royal Bank Of Canada initiated coverage on shares of Climb Bio in a report on Monday, August 3rd. They issued an “outperform” rating and a $23.00 price objective on the stock. Wall Street Zen cut shares of Climb Bio from a “hold” rating to a “sell” rating in a research note on Saturday, October 3rd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Climb Bio in a report on Thursday, October 15th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $27.64.

Climb Bio Price Performance

NASDAQ CLYM opened at $10.54 on Tuesday. The business’s fifty day moving average price is $13.44 and its 200-day moving average price is $12.12. The stock has a market capitalization of $605.42 million, a price-to-earnings ratio of -12.70 and a beta of -0.04. Climb Bio has a 1-year low of $1.63 and a 1-year high of $18.33.

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

Insider Buying and Selling

In other Climb Bio news, Director Stephen Thomas sold 100,000 shares of Climb Bio stock in a transaction that occurred on 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 $6,397,136.23. The trade was a 17.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.60% of the company’s stock.

Institutional Trading of Climb Bio

Institutional investors and hedge funds have recently modified their holdings of the company. Legal & General Group Plc purchased a new position in shares of Climb Bio during the 2nd quarter valued at $45,000. Spark Investment Management LLC purchased a new stake in Climb Bio in the 2nd quarter worth $177,000. State of Wyoming purchased a new stake in Climb Bio in the 2nd quarter worth $187,000. Bank of America Corp DE bought a new stake in Climb Bio during the second quarter valued at about $335,000. Finally, Deutsche Bank AG bought a new stake in Climb Bio during the second quarter valued at about $452,000. 69.76% of the stock is currently owned by institutional investors.

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.