Climb Bio, Inc. (NASDAQ:CLYM) Stock Has Consensus Price Target of $28.14

Climb Bio, Inc. (NASDAQ:CLYM) has been given a consensus rating of “Buy” by the fifteen research firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $28.14.

Several analysts have recently commented on the company. Guggenheim reiterated a “buy” rating on shares of Climb Bio in a report on Monday, October 26th. Oppenheimer boosted their target price on Climb Bio from $18.00 to $25.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 8th. B. Riley Financial restated a “buy” rating on shares of Climb Bio in a research note on Friday, September 4th. BTIG Research reaffirmed a “buy” rating and set a $32.00 target price on shares of Climb Bio in a research report on Tuesday, October 27th. Finally, Mizuho upgraded Climb Bio to a “strong-buy” rating in a research note on Wednesday, September 16th.

Insider Buying and Selling at Climb Bio

In other news, Director Stephen Thomas sold 100,000 shares of the company’s stock in a transaction dated 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 in the company, valued at $6,397,136.23. This represents a 17.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.60% of the company’s stock.

Institutional Trading of Climb Bio

Several large investors have recently bought and sold shares of the stock. Fisher Asset Management LLC purchased a new stake in shares of Climb Bio during the third quarter valued at $505,000. Nan Fung Trinity HK Ltd. increased its position in shares of Climb Bio by 212.3% in the 3rd quarter. Nan Fung Trinity HK Ltd. now owns 360,654 shares of the company’s stock valued at $4,137,000 after acquiring an additional 245,160 shares during the period. Fifth Third Bancorp increased its position in shares of Climb Bio by 10.1% in the 3rd quarter. Fifth Third Bancorp now owns 181,510 shares of the company’s stock valued at $2,082,000 after acquiring an additional 16,587 shares during the period. Jefferies Financial Group Inc. purchased a new position in Climb Bio in the 3rd quarter worth $3,336,000. Finally, Alps Advisors Inc. raised its stake in Climb Bio by 30.9% in the 3rd quarter. Alps Advisors Inc. now owns 76,109 shares of the company’s stock worth $873,000 after acquiring an additional 17,988 shares during the last quarter. Hedge funds and other institutional investors own 69.76% of the company’s stock.

Climb Bio Stock Up 16.0%

NASDAQ CLYM opened at $10.29 on Friday. The firm has a market cap of $591.06 million, a PE ratio of -12.55 and a beta of 0.01. The company has a 50 day moving average price of $11.91 and a 200 day moving average price of $10.47. Climb Bio has a 52 week low of $1.63 and a 52 week high of $18.33.

Climb Bio (NASDAQ:CLYM) last announced its earnings results on Thursday, November 5th. The company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.02. On average, equities research analysts anticipate that Climb Bio will post -0.79 earnings per share for the current fiscal year.

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.