Climb Bio (NASDAQ:CLYM) Stock Rating Raised to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded Climb Bio from “sell” to “hold.” Analyst sentiment is broadly positive, with MarketBeat reporting a consensus “buy” rating and an average price target of $28.14.
• Climb Bio reported a quarterly loss of $0.18 per share, beating analysts’ estimate of a $0.20 loss by $0.02.
• Director Stephen Thomas sold 100,000 shares for about $1.37 million, reducing his stake by 17.61%; insiders own 2.60% of the company’s stock.

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

A number of other research analysts also recently issued reports on the company. Mizuho upgraded Climb Bio to a "strong-buy" rating in a research note on Wednesday, September 16th. Raymond James Financial restated a "strong-buy" rating on shares of Climb Bio in a research note on Thursday. Wedbush upped their price target on Climb Bio from $25.00 to $27.00 and gave the company an "outperform" rating in a report on Thursday. HC Wainwright reissued a "buy" rating on shares of Climb Bio in a report on Monday, October 12th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Climb Bio in a report 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 given a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $28.14.

Climb Bio Stock Up 16.0%

Shares of NASDAQ:CLYM opened at $10.29 on Friday. The company has a 50 day moving average of $11.91 and a two-hundred day moving average of $10.47. The company has a market capitalization of $591.06 million, a price-to-earnings ratio of -12.55 and a beta of 0.01. Climb Bio has a 52-week low of $1.63 and a 52-week high of $18.33.

Climb Bio (NASDAQ:CLYM - Get Free Report) last released its earnings results on Thursday, November 5th. The company reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.02. On average, equities analysts anticipate that Climb Bio will post -0.80 earnings per share for the current year.

Insider Buying and Selling at Climb Bio

In related news, Director Stephen Thomas sold 100,000 shares of the company's stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $13.67, for a total transaction of $1,367,000.00. Following the completion of the sale, the director directly owned 467,969 shares of the company's stock, valued at approximately $6,397,136.23. This represents a 17.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Fisher Asset Management LLC bought a new stake in Climb Bio in the third quarter valued at approximately $505,000. Nan Fung Trinity HK Ltd. increased its position in Climb Bio by 212.3% during the third quarter. Nan Fung Trinity HK Ltd. now owns 360,654 shares of the company's stock valued at $4,137,000 after acquiring an additional 245,160 shares during the last quarter. Fifth Third Bancorp lifted its position in Climb Bio by 10.1% in the third quarter. Fifth Third Bancorp now owns 181,510 shares of the company's stock worth $2,082,000 after buying an additional 16,587 shares during the last quarter. Jefferies Financial Group Inc. purchased a new stake in shares of Climb Bio during the third quarter valued at $3,336,000. Finally, Alps Advisors Inc. grew its stake in Climb Bio by 30.9% during the 3rd quarter. Alps Advisors Inc. now owns 76,109 shares of the company's stock valued at $873,000 after acquiring an additional 17,988 shares in the last quarter. Institutional investors and hedge funds own 69.76% of the company's stock.

Climb Bio Company Profile

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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