Climb Bio, Inc. (NASDAQ:CLYM) Stock Now Rated "Buy" by Sell-Side Brokerages

Key Points

• Climb Bio has an overall “Buy” consensus among 15 analysts: 12 rate it Buy, two Strong Buy, and one Sell. The average 12-month price target is $27.62, well above the reported $10.31 share price.
• Shares opened down 4.8% at $10.31, while the company reported a quarterly loss of $0.18 per share—better than the $0.21 consensus estimate. Analysts expect a full-year loss of $0.78 per share.
• Institutional ownership stands at 69.76%, including major new positions from BlackRock and Bank of New York Mellon; meanwhile, director Stephen Thomas sold 100,000 shares for approximately $1.37 million.

Climb Bio, Inc. (NASDAQ:CLYM - Get Free Report) has received an average recommendation of "Buy" from the fifteen analysts that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, twelve have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $27.62.

Several equities research analysts recently commented on the company. B. Riley Financial reiterated a "buy" rating on shares of Climb Bio in a report on Friday, September 4th. Raymond James Financial restated a "strong-buy" rating and set a $34.00 target price on shares of Climb Bio in a research note on Monday, October 5th. Wedbush restated an "outperform" rating and set a $20.00 target price on shares of Climb Bio in a research note on Wednesday, August 19th. Oppenheimer raised their price target on shares of Climb Bio from $18.00 to $25.00 and gave the company an "outperform" rating in a report on Tuesday, September 8th. Finally, Wall Street Zen lowered shares of Climb Bio from a "hold" rating to a "sell" rating in a research note on Saturday, October 3rd.

Climb Bio Trading Down 4.8%

Shares of CLYM opened at $10.31 on Wednesday. The business's fifty day simple moving average is $13.92 and its two-hundred day simple moving average is $11.94. Climb Bio has a 12 month low of $1.63 and a 12 month high of $18.33. The company has a market cap of $592.21 million, a price-to-earnings ratio of -12.42 and a beta of -0.04.

Climb Bio (NASDAQ:CLYM - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported ($0.18) EPS for the quarter, topping analysts' consensus estimates of ($0.21) by $0.03. As a group, research analysts forecast that Climb Bio will post -0.78 EPS for the current year.

Insiders Place Their Bets

In related news, Director Stephen Thomas sold 100,000 shares of the firm'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 sale, the director owned 467,969 shares in the company, 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 document filed with the SEC, which can be accessed through the SEC website. 2.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Climb Bio

Hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP purchased a new stake in Climb Bio during the first quarter valued at $715,000. BlackRock Inc. bought a new position in Climb Bio in the second quarter valued at about $30,708,000. Bank of New York Mellon Corp bought a new position in Climb Bio in the second quarter valued at about $1,613,000. Seven Fleet Capital Management LP purchased a new position in Climb Bio in the fourth quarter worth about $306,000. Finally, Braidwell LP boosted its position in Climb Bio by 102.6% in the second quarter. Braidwell LP now owns 3,099,027 shares of the company's stock worth $40,411,000 after purchasing an additional 1,569,352 shares during the last quarter. 69.76% of the stock is currently owned by hedge funds and other institutional investors.

About Climb Bio

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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