Climb Bio (NASDAQ:CLYM) Stock Bumped Up to Hold by Wall Street Zen

Climb Bio (NASDAQ:CLYM) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday, Wall Street Zen reports.

Several other research firms have also recently issued reports on CLYM. Deutsche Bank Aktiengesellschaft began coverage on shares of Climb Bio in a research report on Tuesday, October 20th. They set a “buy” rating and a $28.00 price objective for the company. BTIG Research reaffirmed a “buy” rating and issued a $32.00 target price on shares of Climb Bio in a research report on Tuesday, October 27th. Truist Financial raised their target price on shares of Climb Bio from $17.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Royal Bank Of Canada assumed coverage on shares of Climb Bio in a research report on Monday, August 3rd. They set an “outperform” rating and a $23.00 price objective on the stock. Finally, HC Wainwright reissued a “buy” rating on shares of Climb Bio in a report on Monday, October 12th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $28.14.

Climb Bio Price Performance

Climb Bio stock opened at $10.29 on Friday. The firm has a market cap of $591.06 million, a price-to-earnings ratio of -12.55 and a beta of 0.01. Climb Bio has a fifty-two week low of $1.63 and a fifty-two week high of $18.33. The firm has a fifty day moving average price of $11.91 and a two-hundred day moving average price of $10.47.

Climb Bio (NASDAQ:CLYM) last announced its 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. As a group, sell-side analysts expect that Climb Bio will post -0.80 earnings per share for the current year.

Insider Buying and Selling at Climb Bio

In related news, Director Stephen Thomas sold 100,000 shares of the company’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 completion of the sale, the director directly owned 467,969 shares in the company, valued at approximately $6,397,136.23. This 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 link. 2.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Climb Bio

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Braidwell LP grew 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 valued at $40,411,000 after buying an additional 1,569,352 shares in the last quarter. BlackRock Inc. bought a new stake in Climb Bio during the 2nd quarter valued at $30,708,000. ADAR1 Capital Management LLC purchased a new position in Climb Bio during the 2nd quarter worth approximately $10,727,000. Parkman Healthcare Partners LLC acquired a new stake in shares of Climb Bio in the second quarter worth approximately $7,348,000. Finally, Nan Fung Trinity HK Ltd. lifted its position in Climb Bio by 212.3% in the third quarter. Nan Fung Trinity HK Ltd. now owns 360,654 shares of the company’s stock valued at $4,137,000 after buying an additional 245,160 shares during the last quarter. 69.76% of the stock is owned by institutional investors and hedge funds.

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.