Ra Capital Management, L.P. Buys 213,099 Shares of Climb Bio (NASDAQ:CLYM) Stock

Climb Bio, Inc. (NASDAQ:CLYM) Director Ra Capital Management, L.P. purchased 213,099 shares of Climb Bio stock in a transaction dated Thursday, December 11th. The shares were bought at an average price of $2.18 per share, for a total transaction of $464,555.82. Following the acquisition, the director owned 3,294,856 shares in the company, valued at approximately $7,182,786.08. This trade represents a 6.91% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Ra Capital Management, L.P. also recently made the following trade(s):

• On Friday, December 12th, Ra Capital Management, L.P. bought 101,462 shares of Climb Bio stock. The shares were purchased at an average cost of $2.86 per share, for a total transaction of $290,181.32.

Climb Bio Stock Up 27.0%

Shares of Climb Bio stock traded up $0.81 during mid-day trading on Monday, hitting $3.81. The stock had a trading volume of 22,503,757 shares, compared to its average volume of 795,270. The firm has a 50-day moving average of $1.97 and a two-hundred day moving average of $1.80. The firm has a market cap of $259.77 million, a P/E ratio of -5.01 and a beta of -0.06. Climb Bio, Inc. has a 12-month low of $1.05 and a 12-month high of $4.82.

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

Institutional Investors Weigh In On Climb Bio

Hedge funds have recently made changes to their positions in the business. RA Capital Management L.P. acquired a new position in Climb Bio during the first quarter worth approximately $38,332,000. Affinity Asset Advisors LLC purchased a new position in shares of Climb Bio in the 1st quarter worth about $1,830,000. Diadema Partners LP grew its holdings in shares of Climb Bio by 4.8% during the 2nd quarter. Diadema Partners LP now owns 702,135 shares of the company’s stock worth $871,000 after purchasing an additional 32,332 shares during the period. Peapod Lane Capital LLC increased its position in Climb Bio by 1.1% during the 3rd quarter. Peapod Lane Capital LLC now owns 561,866 shares of the company’s stock worth $1,129,000 after purchasing an additional 6,199 shares in the last quarter. Finally, Nan Fung Trinity HK Ltd. acquired a new position in Climb Bio during the second quarter valued at approximately $575,000. Institutional investors and hedge funds own 69.76% of the company’s stock.

Wall Street Analysts Forecast Growth

CLYM has been the subject of a number of recent research reports. BTIG Research reiterated a “buy” rating and issued a $8.00 price target on shares of Climb Bio in a research note on Thursday, October 16th. William Blair initiated coverage on shares of Climb Bio in a report on Thursday, October 16th. They issued an “outperform” rating for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Climb Bio in a report on Wednesday, October 8th. HC Wainwright assumed coverage on shares of Climb Bio in a research report on Monday, October 13th. They set a “buy” rating and a $9.00 price objective for the company. Finally, Wall Street Zen cut Climb Bio from a “hold” rating to a “strong sell” rating in a report on Saturday, November 8th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $9.00.

About Climb Bio

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.