Climb Bio (NASDAQ:CLYM) Upgraded by Mizuho to Strong-Buy Rating

Mizuho upgraded shares of Climb Bio (NASDAQ:CLYM) to a strong-buy rating in a research report report published on Wednesday morning,Zacks reports.

Other equities research analysts have also recently issued research reports about the stock. Royal Bank Of Canada started coverage on Climb Bio in a research note on Monday, August 3rd. They issued an “outperform” rating and a $23.00 price objective on the stock. Piper Sandler set a $40.00 target price on Climb Bio and gave the stock an “overweight” rating in a research report on Thursday, September 3rd. Truist Financial boosted their target price on Climb Bio from $17.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Guggenheim initiated coverage on Climb Bio in a research report on Monday, June 8th. They set a “buy” rating and a $35.00 price target on the stock. Finally, B. Riley Financial reiterated a “buy” rating and set a $30.00 price target (up from $26.00) on shares of Climb Bio in a research note on Friday, September 4th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $26.92.

Climb Bio Stock Performance

NASDAQ CLYM opened at $14.06 on Wednesday. The company has a market capitalization of $807.55 million, a PE ratio of -16.94 and a beta of 0.09. Climb Bio has a 52-week low of $1.54 and a 52-week high of $18.33. The company has a 50-day simple moving average of $14.29 and a 200 day simple moving average of $11.36.

Climb Bio (NASDAQ:CLYM) last released its earnings results on Thursday, August 6th. The company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.03. As a group, analysts forecast that Climb Bio will post -0.78 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Stephen Basil Thomas sold 100,000 shares of Climb Bio 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 completion of the transaction, 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 Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Climb Bio

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP bought a new stake in shares of Climb Bio during the 1st quarter valued at $715,000. Seven Fleet Capital Management LP bought a new position in Climb Bio in the 4th quarter worth about $306,000. BlackRock Inc. purchased a new position in Climb Bio during the 2nd quarter valued at about $30,708,000. ArchPoint Investors purchased a new position in Climb Bio during the 4th quarter valued at about $486,000. Finally, Braidwell LP increased its position in shares of Climb Bio by 102.6% during the second quarter. Braidwell LP now owns 3,099,027 shares of the company’s stock valued at $40,411,000 after buying an additional 1,569,352 shares during the period. Institutional investors own 69.76% of the company’s stock.

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.