Climb Bio (NASDAQ:CLYM) Coverage Initiated by Analysts at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft began coverage on shares of Climb Bio (NASDAQ:CLYM) in a research report issued to clients and investors on Tuesday, Briefing.com reports. The brokerage set a “buy” rating and a $28.00 price target on the stock. Deutsche Bank Aktiengesellschaft’s target price suggests a potential upside of 187.77% from the stock’s current price.

Several other equities research analysts have also issued reports on the stock. HC Wainwright restated a “buy” rating on shares of Climb Bio in a research note on Monday, October 12th. Piper Sandler set a $40.00 price objective on Climb Bio and gave the company an “overweight” rating in a report on Thursday, September 3rd. Robert W. Baird raised their target price on Climb Bio from $21.00 to $25.00 and gave the stock an “outperform” rating in a research report on Thursday, September 3rd. Wedbush restated an “outperform” rating and issued a $20.00 target price on shares of Climb Bio in a research note on Wednesday, August 19th. Finally, BTIG Research upped their price target on Climb Bio from $20.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, September 3rd. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $27.64.

Climb Bio Stock Performance

CLYM opened at $9.73 on Tuesday. The firm has a market cap of $558.89 million, a P/E ratio of -11.72 and a beta of -0.04. The firm has a 50-day moving average of $13.65 and a 200 day moving average of $12.04. Climb Bio has a fifty-two week low of $1.63 and a fifty-two week 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 (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.03. Equities research analysts predict that Climb Bio will post -0.78 earnings per share for the current fiscal year.

Insider Transactions at Climb Bio

In related news, Director Stephen Thomas sold 100,000 shares of the stock in a transaction dated 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 sale, the director owned 467,969 shares of the company’s stock, valued at approximately $6,397,136.23. This represents a 17.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Spark Investment Management LLC bought a new position in shares of Climb Bio in the second quarter valued at approximately $177,000. Braidwell LP grew its stake in Climb Bio by 102.6% during the second quarter. Braidwell LP now owns 3,099,027 shares of the company’s stock valued at $40,411,000 after acquiring an additional 1,569,352 shares in the last quarter. Wellington Management Group LLP bought a new stake in Climb Bio during the 2nd quarter worth approximately $1,262,000. Bank of America Corp DE bought a new stake in Climb Bio during the 2nd quarter worth approximately $335,000. Finally, ADAR1 Capital Management LLC purchased a new stake in Climb Bio in the 2nd quarter worth approximately $10,727,000. Hedge funds and other institutional investors own 69.76% of the company’s stock.

About Climb Bio

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.