Stephen Basil Thomas Sells 100,000 Shares of Climb Bio (NASDAQ:CLYM) Stock

Key Points

• Director Stephen Basil Thomas sold 100,000 Climb Bio shares at an average price of $13.67, generating $1.367 million. His remaining 467,969-share stake is valued at approximately $6.4 million, representing a 17.61% reduction.
• Climb Bio shares recently traded near $14.06, with a market capitalization of about $808 million. The company reported a quarterly loss of $0.18 per share, beating estimates by $0.03, while analysts expect a full-year loss of $0.78 per share.
• Analyst sentiment remains broadly positive, with a consensus “Buy” rating and an average price target of $26.92. Hedge funds and institutional investors own approximately 69.76% of the company.

Climb Bio, Inc. (NASDAQ:CLYM - Get Free Report) Director Stephen Basil Thomas sold 100,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $13.67, for a total transaction of $1,367,000.00. Following the sale, the director directly owned 467,969 shares in the company, valued at approximately $6,397,136.23. The trade was a 17.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Climb Bio Price Performance

Shares of NASDAQ:CLYM traded down $0.05 during trading on Thursday, hitting $14.06. 987,390 shares of the company were exchanged, compared to its average volume of 1,016,128. The firm's 50 day moving average price is $14.28 and its 200-day moving average price is $11.31. Climb Bio, Inc. has a 12-month low of $1.54 and a 12-month high of $18.33. The stock has a market capitalization of $807.61 million, a P/E ratio of -16.94 and a beta of 0.09.

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, beating analysts' consensus estimates of ($0.21) by $0.03. As a group, equities research analysts anticipate that Climb Bio, Inc. will post -0.78 EPS for the current year.

Analyst Ratings Changes

CLYM has been the topic of a number of research analyst reports. Guggenheim assumed coverage on Climb Bio in a research report on Monday, June 8th. They set a "buy" rating and a $35.00 target price on the stock. Piper Sandler set a $40.00 target price on Climb Bio and gave the company an "overweight" rating in a research report on Thursday, September 3rd. Robert W. Baird raised their price target on Climb Bio from $21.00 to $25.00 and gave the stock an "outperform" rating in a research note on Thursday, September 3rd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Climb Bio in a research report on Friday, July 17th. Finally, Wedbush reiterated an "outperform" rating and issued a $20.00 price objective on shares of Climb Bio in a research note on Wednesday, August 19th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $26.92.

Hedge Funds Weigh In On Climb Bio

Hedge funds and other institutional investors have recently bought and sold shares of the company. Legal & General Group Plc purchased a new position in Climb Bio during the 2nd quarter worth $45,000. Spark Investment Management LLC acquired a new position in shares of Climb Bio during the second quarter worth about $177,000. State of Wyoming purchased a new position in Climb Bio during the second quarter worth about $187,000. Seven Fleet Capital Management LP purchased a new position in Climb Bio during the fourth quarter worth about $306,000. Finally, Bank of America Corp DE acquired a new stake in Climb Bio in the second quarter valued at about $335,000. 69.76% of the stock is currently owned by hedge funds and other institutional investors.

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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