Weiss Ratings Reaffirms "Sell (D-)" Rating for Climb Bio (NASDAQ:CLYM)

Key Points

• Weiss Ratings has reaffirmed its "sell (D-)" rating for Climb Bio (NASDAQ:CLYM), reflecting ongoing concerns about the company's stock performance.
• Despite the negative assessment from Weiss, other analysts have given Climb Bio a consensus "buy" rating and a target price of $9.20, signaling varied opinions on the company's potential.
• Climb Bio shares remained flat at $1.99 with a market capitalization of approximately $134.84 million, and the company reported a quarterly earnings per share of ($0.13), surpassing estimates.

Climb Bio (NASDAQ:CLYM - Get Free Report)'s stock had its "sell (d-)" rating reaffirmed by equities researchers at Weiss Ratings in a research note issued to investors on Friday,Weiss Ratings reports.

Several other analysts also recently weighed in on the company. HC Wainwright assumed coverage on Climb Bio in a report on Monday, October 13th. They issued a "buy" rating and a $9.00 price objective for the company. William Blair assumed coverage on Climb Bio in a report on Thursday, October 16th. They issued an "outperform" rating for the company. BTIG Research restated a "buy" rating and issued a $8.00 price objective on shares of Climb Bio in a report on Thursday, October 16th. Wall Street Zen upgraded Climb Bio from a "sell" rating to a "hold" rating in a report on Monday, October 6th. Finally, Robert W. Baird began coverage on Climb Bio in a report on Friday, August 15th. They issued an "outperform" rating and a $9.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Climb Bio presently has a consensus rating of "Buy" and a consensus target price of $9.20.

Climb Bio Price Performance

Shares of NASDAQ:CLYM remained flat at $1.99 on Friday. The stock had a trading volume of 495,555 shares, compared to its average volume of 987,194. Climb Bio has a fifty-two week low of $1.05 and a fifty-two week high of $4.68. The company has a market capitalization of $134.84 million, a PE ratio of -2.84 and a beta of -0.07. The stock's 50 day simple moving average is $2.14 and its 200 day simple moving average is $1.61.

Climb Bio (NASDAQ:CLYM - Get Free Report) last released its earnings results on Tuesday, August 12th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.06. On average, research analysts anticipate that Climb Bio will post -1.57 earnings per share for the current fiscal year.

Institutional Trading of Climb Bio

Large investors have recently bought and sold shares of the stock. AQR Capital Management LLC purchased a new stake in Climb Bio during the 1st quarter worth approximately $27,000. XTX Topco Ltd purchased a new stake in Climb Bio during the 1st quarter worth approximately $34,000. Qube Research & Technologies Ltd purchased a new stake in Climb Bio during the 2nd quarter worth approximately $43,000. Marshall Wace LLP purchased a new stake in Climb Bio during the 2nd quarter worth approximately $46,000. Finally, Nuveen LLC purchased a new stake in Climb Bio in the first quarter valued at approximately $48,000. Hedge funds and other institutional investors own 69.76% of the company's stock.

Climb Bio Company Profile

Climb Bio Inc is a clinical-stage biotechnology company developing therapeutics for patients with immune-mediated diseases. The Company's lead product candidate, budoprutug, is an anti-CD19 monoclonal antibody which has demonstrated B-cell depletion and has potential to treat a broad range of B-cell mediated diseases.

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