Climb Bio (NASDAQ:CLYM) Cut to Sell at Wall Street Zen

Key Points

• Climb Bio has been downgraded by Wall Street Zen from a "hold" rating to a "sell" rating, raising concerns among investors.
• Despite the downgrade, Climb Bio has received other positive ratings, including an "outperform" from Robert W. Baird with a $9.00 price target.
• The company reported a earnings per share (EPS) of ($0.13) for the quarter, which beat analysts' expectations by $0.06.

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.

Other equities analysts have also recently issued reports about the stock. Robert W. Baird began coverage on shares of Climb Bio in a research report on Friday, August 15th. They set an "outperform" rating and a $9.00 price objective on the stock. Baird R W raised shares of Climb Bio to a "strong-buy" rating in a research report on Friday, August 15th. BTIG Research reissued a "buy" rating and issued a $7.00 price target on shares of Climb Bio in a research report on Monday, September 22nd. Finally, Oppenheimer assumed coverage on shares of Climb Bio in a research note on Friday, June 6th. They set an "outperform" rating and a $10.00 price objective on the stock. Two investment analysts have rated the stock with a Strong Buy rating and four have given a Buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $9.00.

Climb Bio Trading Up 1.4%

NASDAQ CLYM opened at $2.13 on Friday. The business's 50 day moving average is $1.99 and its two-hundred day moving average is $1.52. Climb Bio has a 12-month low of $1.05 and a 12-month high of $5.86. The stock has a market capitalization of $144.33 million, a price-to-earnings ratio of -3.04 and a beta of -0.05.

Climb Bio (NASDAQ:CLYM - Get Free Report) last posted its earnings results on Tuesday, August 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.19) by $0.06. Equities analysts forecast that Climb Bio will post -1.57 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Climb Bio

Several large investors have recently bought and sold shares of the business. RA Capital Management L.P. acquired a new position in Climb Bio in the first quarter valued at approximately $38,332,000. Affinity Asset Advisors LLC acquired a new stake in Climb Bio in the first quarter worth $1,830,000. Diadema Partners LP raised its holdings in Climb Bio by 4.8% in the second 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 acquired a new stake in Climb Bio in the first quarter worth $676,000. Finally, Nan Fung Trinity HK Ltd. acquired a new stake in Climb Bio in the second quarter worth $575,000. 69.76% of the stock is currently owned by institutional investors and hedge funds.

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.

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