Climb Bio (NASDAQ:CLYM) Stock Falls 8.7% - Time to Sell?

Key Points

• Climb Bio shares fell 8.7% to about $9.97, with trading volume down 69% from the average daily level.
• Analysts remain broadly optimistic, with an average “Buy” rating and a $27.62 price target; recent targets range from $20 to $34.
• Institutional ownership stands at 69.76%, while a company director sold 100,000 shares. Climb Bio reported a quarterly loss of $0.18 per share, though this beat analyst expectations.

Climb Bio, Inc. (NASDAQ:CLYM - Get Free Report)'s share price traded down 8.7% during trading on Friday. The company traded as low as $10.08 and last traded at $9.9650. 318,572 shares traded hands during trading, a decline of 69% from the average daily volume of 1,041,295 shares. The stock had previously closed at $10.91.

Analysts Set New Price Targets

Several research firms have commented on CLYM. Oppenheimer raised their target price 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. BTIG Research upped their price target on shares of Climb Bio from $20.00 to $32.00 and gave the stock a "buy" rating in a report on Thursday, September 3rd. Robert W. Baird increased their price target on shares of Climb Bio from $21.00 to $25.00 and gave the stock an "outperform" rating in a research report on Thursday, September 3rd. Raymond James Financial reissued a "strong-buy" rating and issued a $34.00 price objective on shares of Climb Bio in a research note on Monday, October 5th. Finally, Wedbush restated an "outperform" rating and set a $20.00 price objective on shares of Climb Bio in a research report on Wednesday, August 19th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Climb Bio has an average rating of "Buy" and an average target price of $27.62.

Climb Bio Stock Performance

The stock's fifty day simple moving average is $13.81 and its two-hundred day simple moving average is $11.99. The stock has a market capitalization of $562.05 million, a P/E ratio of -11.78 and a beta of -0.04.

Climb Bio (NASDAQ:CLYM - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.03. As a group, analysts expect that Climb Bio, Inc. will post -0.78 earnings per share for the current fiscal year.

Insider Buying and Selling at Climb Bio

In other news, Director Stephen Thomas sold 100,000 shares of the company's stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $13.67, for a total transaction of $1,367,000.00. Following the transaction, the director owned 467,969 shares in the company, valued at approximately $6,397,136.23. This represents a 17.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Climb Bio

Hedge funds and other institutional investors have recently made changes to their positions in the business. Braidwell LP lifted its stake in Climb Bio by 102.6% during the 2nd quarter. Braidwell LP now owns 3,099,027 shares of the company's stock valued at $40,411,000 after acquiring an additional 1,569,352 shares in the last quarter. BlackRock Inc. bought a new stake in shares of Climb Bio in the 2nd quarter worth $30,708,000. ADAR1 Capital Management LLC bought a new stake in shares of Climb Bio in the 2nd quarter worth $10,727,000. Parkman Healthcare Partners LLC purchased a new stake in shares of Climb Bio in the second quarter valued at about $7,348,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Climb Bio in the second quarter valued at about $2,148,000. 69.76% of the stock is owned by 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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