Climb Bio, Inc. (NASDAQ:CLYM) Given Average Recommendation of "Buy" by Brokerages

Key Points

• Analysts maintain a bullish outlook: Sixteen brokerages give Climb Bio an average “Buy” rating, with a consensus 12-month price target of $26.92 versus the stock’s $14.05 opening price.
• Climb Bio reported a quarterly loss of $0.18 per share, beating analyst expectations of a $0.21 loss; analysts expect a full-year loss of approximately $0.78 per share.
• Institutional investors own 69.76% of the company, while director Stephen Thomas sold 100,000 shares worth about $1.37 million, reducing his ownership by 17.61%.

Climb Bio, Inc. (NASDAQ:CLYM - Get Free Report) has earned an average rating of "Buy" from the sixteen ratings firms that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, thirteen have assigned a buy rating and two have issued a strong buy rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $26.9231.

Several analysts have commented on CLYM shares. 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. HC Wainwright boosted their price objective on shares of Climb Bio from $24.00 to $30.00 and gave the stock a "buy" rating in a research note on Tuesday, September 8th. Piper Sandler set a $40.00 target price on shares of Climb Bio and gave the company an "overweight" rating in a research report on Thursday, September 3rd. Robert W. Baird lifted their price target on shares of Climb Bio from $21.00 to $25.00 and gave the stock an "outperform" rating in a report on Thursday, September 3rd. Finally, BTIG Research increased their price objective on Climb Bio from $20.00 to $32.00 and gave the company a "buy" rating in a report on Thursday, September 3rd.

Climb Bio Trading Down 0.1%

Shares of NASDAQ CLYM opened at $14.05 on Friday. Climb Bio has a 12-month low of $1.54 and a 12-month high of $18.33. The stock's fifty day simple moving average is $14.29 and its two-hundred day simple moving average is $11.38. The stock has a market capitalization of $807.03 million, a PE ratio of -16.93 and a beta of 0.09.

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

Insider Buying and Selling

In other Climb Bio news, Director Stephen Thomas sold 100,000 shares of the firm's stock in a transaction dated Tuesday, September 15th. The stock was 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 of the company's stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.60% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Legal & General Group Plc purchased a new position in shares of Climb Bio in the second quarter worth $45,000. Spark Investment Management LLC purchased a new stake in shares of Climb Bio during the second quarter valued at $177,000. State of Wyoming acquired a new position in shares of Climb Bio in the 2nd quarter valued at $187,000. Bank of America Corp DE acquired a new position in shares of Climb Bio in the 2nd quarter valued at $335,000. Finally, Deutsche Bank AG purchased a new position in Climb Bio in the 2nd quarter worth $452,000. Institutional investors and hedge funds own 69.76% of the company's stock.

About Climb Bio

Climb Bio, Inc NASDAQ: CLYM is a clinical-stage biotechnology company focused on developing therapies for immune-mediated diseases. The company's research is centered on treatments intended to address conditions in which abnormal B-cell activity contributes to disease.

Climb Bio's lead investigational program, CLYM-001, is a CD19-directed antibody designed to target and deplete B cells. The candidate is being developed for potential use in autoimmune and other immune-mediated disorders.

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