Climb Bio (NASDAQ:CLYM) Downgraded by Wall Street Zen to “Strong Sell”

Wall Street Zen lowered shares of Climb Bio (NASDAQ:CLYM) from a hold rating to a strong sell rating in a report published on Saturday.

A number of other equities research analysts have also recently weighed in on CLYM. Robert W. Baird started coverage on Climb Bio in a research note on Friday, August 15th. They issued an “outperform” rating and a $9.00 price objective for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Climb Bio in a report on Wednesday, October 8th. HC Wainwright began coverage on shares of Climb Bio in a research note on Monday, October 13th. They set a “buy” rating and a $9.00 price target for the company. Baird R W raised shares of Climb Bio to a “strong-buy” rating in a report on Friday, August 15th. Finally, BTIG Research reissued a “buy” rating and set a $8.00 price target on shares of Climb Bio in a report on Thursday, October 16th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $9.20.

Climb Bio Stock Performance

NASDAQ CLYM traded down $0.12 during trading hours on Friday, hitting $1.83. The company had a trading volume of 511,528 shares, compared to its average volume of 900,274. The business has a 50 day moving average of $2.09 and a 200-day moving average of $1.67. The company has a market cap of $124.00 million, a PE ratio of -2.41 and a beta of -0.06. Climb Bio has a 1-year low of $1.05 and a 1-year high of $4.34.

Climb Bio (NASDAQ:CLYM) last posted its earnings results on Thursday, November 6th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.03). Sell-side analysts expect that Climb Bio will post -1.57 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Climb Bio

A number of large investors have recently made changes to their positions in the stock. Vanguard Personalized Indexing Management LLC purchased a new stake in Climb Bio during the third quarter worth about $29,000. AQR Capital Management LLC acquired a new stake in shares of Climb Bio in the 1st quarter worth approximately $27,000. XTX Topco Ltd acquired a new position in shares of Climb Bio in the first quarter valued at approximately $34,000. Qube Research & Technologies Ltd acquired a new position in shares of Climb Bio in the second quarter valued at approximately $43,000. Finally, Marshall Wace LLP purchased a new position in shares of Climb Bio during the second quarter valued at approximately $46,000. Hedge funds and other institutional investors own 69.76% of the company’s stock.

Climb Bio Company Profile

Climb Bio Inc is a clinical-stage biotechnology company developing therapeutics for patients with immune-mediated diseases. The Company’s lead product candidate, budoprutug, is an anti-CD19 monoclonal antibody which has demonstrated B-cell depletion and has potential to treat a broad range of B-cell mediated diseases.