Climb Bio (NASDAQ:CLYM) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Climb Bio from “hold” to “sell,” contrasting with the broader analyst consensus of “Buy” and an average price target of $26.92.
• Climb Bio shares opened at $10.94, well below their 52-week high of $18.33, while the company reported a quarterly loss of $0.18 per share—better than the expected $0.21 loss.
• A company director sold 100,000 shares worth approximately $1.37 million, while institutional investors own 69.76% of the stock.

Climb Bio (NASDAQ:CLYM - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Other research analysts also recently issued research reports about the stock. Robert W. Baird raised their target price on shares of Climb Bio from $21.00 to $25.00 and gave the company an "outperform" rating in a research report on Thursday, September 3rd. Wedbush reissued an "outperform" rating and set a $20.00 price target on shares of Climb Bio in a research report on Wednesday, August 19th. Weiss Ratings restated a "sell (d-)" rating on shares of Climb Bio in a research note on Friday, July 17th. Oppenheimer raised their price objective on Climb Bio from $18.00 to $25.00 and gave the company an "outperform" rating in a report on Tuesday, September 8th. Finally, Truist Financial lifted their target price on Climb Bio from $17.00 to $25.00 and gave the company a "buy" rating in a research report on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $26.92.

Climb Bio Stock Performance

NASDAQ CLYM opened at $10.94 on Friday. Climb Bio has a 52 week low of $1.54 and a 52 week high of $18.33. The stock's 50 day moving average price is $14.12 and its two-hundred day moving average price is $11.72. The stock has a market capitalization of $628.39 million, a price-to-earnings ratio of -13.18 and a beta of -0.04.

Climb Bio (NASDAQ:CLYM - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.18) earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.03. On average, equities research analysts forecast that Climb Bio will post -0.78 EPS for the current year.

Insider Transactions at Climb Bio

In other Climb Bio news, Director Stephen Thomas sold 100,000 shares of the stock in a transaction 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 sale, the director owned 467,969 shares in the company, valued at $6,397,136.23. This trade represents a 17.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 2.60% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Legal & General Group Plc bought a new position in Climb Bio during the second quarter worth about $45,000. Spark Investment Management LLC acquired a new stake in shares of Climb Bio in the second quarter valued at approximately $177,000. State of Wyoming bought a new position in shares of Climb Bio during the 2nd quarter worth approximately $187,000. Bank of America Corp DE acquired a new position in shares of Climb Bio during the 2nd quarter worth approximately $335,000. Finally, Deutsche Bank AG bought a new stake in Climb Bio in the 2nd quarter valued at $452,000. 69.76% of the stock is currently owned by institutional investors and hedge funds.

Climb Bio Company Profile

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.

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