Climb Bio (NASDAQ:CLYM) Stock Crosses Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Climb Bio shares crossed above their 200-day moving average, reaching $10.55 before closing around $10.33, compared with the $10.30 long-term average.
• Analyst sentiment remains broadly positive: the stock has a consensus “Buy” rating and an average price target of $27.64, although one firm downgraded it to “Sell.”
• Climb Bio is a clinical-stage biotechnology company developing B-cell-targeting treatments for autoimmune diseases; it reported a quarterly loss of $0.18 per share, while an insider recently sold 100,000 shares.

Climb Bio, Inc. (NASDAQ:CLYM - Get Free Report) shares passed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $10.30 and traded as high as $10.55. Climb Bio shares last traded at $10.33, with a volume of 688,982 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CLYM. Wall Street Zen cut Climb Bio from a "hold" rating to a "sell" rating in a report on Saturday, October 3rd. Oppenheimer increased their price target on Climb Bio from $18.00 to $25.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 8th. Royal Bank Of Canada assumed coverage on Climb Bio in a report on Monday, August 3rd. They issued an "outperform" rating and a $23.00 price objective on the stock. Raymond James Financial restated a "strong-buy" rating and issued a $34.00 price objective on shares of Climb Bio in a research report on Monday, October 5th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Climb Bio in a research note on Tuesday, October 20th. They set a "buy" rating and a $28.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $27.64.

Climb Bio Price Performance

The firm has a market cap of $593.36 million, a price-to-earnings ratio of -12.45 and a beta of -0.04. The business has a fifty day simple moving average of $12.74 and a 200 day simple moving average of $10.30.

Climb Bio (NASDAQ:CLYM - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.21) by $0.03. On average, research analysts anticipate that Climb Bio, Inc. will post -0.80 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 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 transaction, the director directly owned 467,969 shares of the company's stock, valued at $6,397,136.23. This trade represents a 17.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 2.60% of the company's stock.

Institutional Investors Weigh In On Climb Bio

A number of large investors have recently made changes to their positions in the stock. State of Wyoming purchased a new position in Climb Bio during the third quarter worth approximately $31,000. Legal & General Group Plc acquired a new position in Climb Bio during the second quarter worth $45,000. Spark Investment Management LLC acquired a new position in Climb Bio during the second quarter worth $177,000. The Manufacturers Life Insurance Company grew its holdings in Climb Bio by 11.2% in the 1st quarter. The Manufacturers Life Insurance Company now owns 156,317 shares of the company's stock valued at $1,071,000 after buying an additional 15,700 shares in the last quarter. Finally, Profund Advisors LLC purchased a new stake in Climb Bio in the 3rd quarter valued at $190,000. 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 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.