Climb Bio, Inc. (NASDAQ:CLYM - Get Free Report) crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $10.50 and traded as high as $11.54. Climb Bio shares last traded at $11.01, with a volume of 1,783,887 shares traded.
Analysts Set New Price Targets
Several equities research analysts have weighed in on the stock. B. Riley Financial restated a "buy" rating on shares of Climb Bio in a research report on Friday, September 4th. Guggenheim reaffirmed a "buy" rating on shares of Climb Bio in a research note on Monday, October 26th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Climb Bio in a research report on Thursday, October 15th. Oppenheimer increased their price target on shares of Climb Bio from $18.00 to $25.00 and gave the company an "outperform" rating in a research note on Tuesday, September 8th. Finally, Robert W. Baird increased their price target on shares of Climb Bio from $21.00 to $25.00 and gave the company an "outperform" rating in a research note on Thursday, September 3rd. Two equities 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 data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $28.14.
Check Out Our Latest Research Report on Climb Bio
Climb Bio Stock Up 7.0%
The stock has a market cap of $632.41 million, a P/E ratio of -13.43 and a beta of 0.01. The stock has a fifty day simple moving average of $11.84 and a 200-day simple moving average of $10.50.
Climb Bio (NASDAQ:CLYM - Get Free Report) last issued its earnings results on Thursday, November 5th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.20) by $0.02. Sell-side analysts anticipate that Climb Bio, Inc. will post -0.79 earnings per share for the current year.
Insider Activity at Climb Bio
In other news, Director Stephen Thomas sold 100,000 shares of Climb Bio stock in a transaction dated 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 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 document filed with the SEC, which can be accessed through the SEC website. Insiders own 2.60% of the company's stock.
Institutional Trading of Climb Bio
A number of institutional investors and hedge funds have recently bought and sold shares of CLYM. BlackRock Inc. acquired a new position in Climb Bio during the 2nd quarter worth about $30,708,000. Braidwell LP boosted its stake in shares of Climb Bio by 102.6% in the 2nd quarter. Braidwell LP now owns 3,099,027 shares of the company's stock valued at $40,411,000 after purchasing an additional 1,569,352 shares during the last quarter. ADAR1 Capital Management LLC acquired a new stake in Climb Bio during the 2nd quarter worth about $10,727,000. Parkman Healthcare Partners LLC acquired a new stake in Climb Bio during the second quarter worth approximately $7,348,000. Finally, Jefferies Financial Group Inc. acquired a new stake in shares of Climb Bio during the 3rd quarter worth approximately $3,336,000. 69.76% of the stock is currently owned by institutional investors and hedge funds.
About Climb Bio
(
Get Free Report)
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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