Climb Bio, Inc. $CLYM Shares Newly Bought by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. purchased a new stake in shares of Climb Bio, Inc. (NASDAQ:CLYM) in the 3rd quarter, Holdings Channel reports. The fund purchased 290,850 shares of the company’s stock, valued at approximately $3,336,000.

Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. bought a new position in Climb Bio in the second quarter worth approximately $30,708,000. Braidwell LP increased its position in Climb Bio by 102.6% in the second quarter. Braidwell LP now owns 3,099,027 shares of the company’s stock worth $40,411,000 after buying an additional 1,569,352 shares in the last quarter. ADAR1 Capital Management LLC bought a new position in shares of Climb Bio in the second quarter worth about $10,727,000. Parkman Healthcare Partners LLC bought a new position in shares of Climb Bio in the second quarter worth about $7,348,000. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Climb Bio during the 2nd quarter valued at about $2,148,000. Institutional investors own 69.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Raymond James Financial reiterated a “strong-buy” rating on shares of Climb Bio in a research note on Thursday, November 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Climb Bio in a report on Thursday, October 15th. Mizuho raised shares of Climb Bio to a “strong-buy” rating in a report on Wednesday, September 16th. Piper Sandler reiterated an “overweight” rating on shares of Climb Bio in a research report on Tuesday, October 27th. Finally, Robert W. Baird upped their price target on shares of Climb Bio from $21.00 to $25.00 and gave the stock an “outperform” rating in a research report on Thursday, September 3rd. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Climb Bio presently has an average rating of “Buy” and an average price target of $28.14.

Insider Buying and Selling

In related news, Director Stephen Thomas sold 100,000 shares of the stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $13.67, for a total transaction of $1,367,000.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.60% of the company’s stock.

Climb Bio Stock Down 11.3%

CLYM opened at $10.87 on Friday. The firm has a 50-day simple moving average of $11.66 and a two-hundred day simple moving average of $10.60. Climb Bio, Inc. has a 52 week low of $1.63 and a 52 week high of $18.33. The company has a market capitalization of $638.50 million, a PE ratio of -13.26 and a beta of 0.01.

Climb Bio (NASDAQ:CLYM) last issued its quarterly earnings data on Thursday, November 5th. The company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.02. As a group, sell-side analysts expect that Climb Bio, Inc. will post -0.75 earnings per share for the current year.

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 FcγRIIb 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.