Climb Bio (NASDAQ:CLYM) Stock Gets Downgrade from Wall Street Zen

Key Points

• Wall Street Zen downgraded Climb Bio from “hold” to “sell.” Despite the downgrade, analysts overall remain bullish: MarketBeat reports a consensus “Buy” rating and an average price target of $28.14.
• Climb Bio shares fell 4.7% to $10.36 in Friday trading. The company reported a quarterly loss of $0.18 per share, narrower than analysts’ expected loss of $0.20.
• Director Stephen Thomas sold 100,000 shares for about $1.37 million, reducing his stake by 17.61%.

Climb Bio (NASDAQ:CLYM - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Sunday, Wall Street Zen reports.

A number of other brokerages also recently issued reports on CLYM. B. Riley Financial reissued a "buy" rating on shares of Climb Bio in a report on Friday, September 4th. Robert W. Baird boosted their price objective on shares of Climb Bio from $21.00 to $25.00 and gave the company an "outperform" rating in a research note on Thursday, September 3rd. 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 price objective for the company. Mizuho raised shares of Climb Bio to a "strong-buy" rating in a report on Wednesday, September 16th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Climb Bio in a research note on Thursday, October 15th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Climb Bio has a consensus rating of "Buy" and an average target price of $28.14.

Climb Bio Stock Down 4.7%

Shares of NASDAQ:CLYM traded down $0.51 during midday trading on Friday, reaching $10.36. 667,815 shares of the company traded hands, compared to its average volume of 1,365,029. Climb Bio has a 12 month low of $1.63 and a 12 month high of $18.33. The firm has a market capitalization of $608.55 million, a price-to-earnings ratio of -12.63 and a beta of 0.01. The firm's fifty day moving average price is $11.58 and its two-hundred day moving average price is $10.63.

Climb Bio (NASDAQ:CLYM - Get Free Report) last issued its quarterly earnings data on Thursday, November 5th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.20) by $0.02. Analysts forecast that Climb Bio will post -0.75 earnings per share for the current year.

Insider Transactions at Climb Bio

In other Climb Bio news, Director Stephen Thomas sold 100,000 shares of the business's stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $13.67, for a total value of $1,367,000.00. Following the completion of the transaction, the director owned 467,969 shares of the company's stock, valued at $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 is available at this hyperlink. 2.60% of the stock is currently owned by insiders.

Institutional Trading of Climb Bio

Institutional investors and hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP purchased a new position in shares of Climb Bio in the 1st quarter worth about $715,000. BlackRock Inc. bought a new position in shares of Climb Bio during the 2nd quarter valued at about $30,708,000. Bank of New York Mellon Corp purchased a new position in shares of Climb Bio during the 2nd quarter valued at about $1,613,000. Braidwell LP raised its holdings in shares of Climb Bio by 102.6% during the 2nd quarter. Braidwell LP now owns 3,099,027 shares of the company's stock valued at $40,411,000 after buying an additional 1,569,352 shares in the last quarter. 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. Hedge funds and other institutional investors own 69.76% of the company's stock.

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.

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