Climb Bio, Inc. (NASDAQ:CLYM – Get Free Report)’s share price crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $10.30 and traded as high as $10.55. Climb Bio shares last traded at $10.33, with a volume of 688,982 shares traded.
Wall Street Analyst Weigh In
A number of equities analysts have commented on the stock. Royal Bank Of Canada began coverage on shares of Climb Bio in a research note on Monday, August 3rd. They set an “outperform” rating and a $23.00 target price on the stock. Piper Sandler reissued an “overweight” rating on shares of Climb Bio in a research note on Tuesday. BTIG Research reissued a “buy” rating and issued a $32.00 price target on shares of Climb Bio in a research note on Tuesday. Oppenheimer raised their price target on shares of Climb Bio from $18.00 to $25.00 and gave the stock an “outperform” rating in a report on Tuesday, September 8th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Climb Bio in a research report on Thursday, October 15th. Two investment 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’s stock. According to data from MarketBeat.com, Climb Bio presently has an average rating of “Buy” and an average target price of $27.64.
Read Our Latest Stock Report on Climb Bio
Climb Bio Trading Up 2.1%
The company’s fifty day moving average is $12.74 and its two-hundred day moving average is $10.30. The stock has a market cap of $593.36 million, a price-to-earnings ratio of -12.45 and a beta of -0.04.
Climb Bio (NASDAQ:CLYM – Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.03. Analysts predict that Climb Bio, Inc. will post -0.80 EPS for the current year.
Insider Activity
In related news, Director Stephen Thomas sold 100,000 shares of the business’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $13.67, for a total value of $1,367,000.00. Following the sale, the director owned 467,969 shares in the company, valued at approximately $6,397,136.23. The trade was a 17.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.60% of the company’s stock.
Hedge Funds Weigh In On Climb Bio
Institutional investors have recently bought and sold shares of the company. Braidwell LP increased 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 worth $40,411,000 after purchasing an additional 1,569,352 shares during the period. BlackRock Inc. purchased a new position in shares of Climb Bio in the second quarter valued at approximately $30,708,000. ADAR1 Capital Management LLC purchased a new position in shares of Climb Bio in the second quarter valued at approximately $10,727,000. Parkman Healthcare Partners LLC purchased a new position in shares of Climb Bio in the second quarter valued at approximately $7,348,000. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Climb Bio in the second quarter valued at approximately $2,148,000. 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.
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