Climb Bio (NASDAQ:CLYM) Shares Down 8.7% – Time to Sell?

Climb Bio, Inc. (NASDAQ:CLYM) shares dropped 8.7% during trading on Friday. The company traded as low as $10.08 and last traded at $9.9650. Approximately 318,572 shares traded hands during trading, a decline of 69% from the average session volume of 1,041,295 shares. The stock had previously closed at $10.91.

Analyst Ratings Changes

Several equities analysts recently weighed in on CLYM shares. Piper Sandler set a $40.00 price target on shares of Climb Bio and gave the company an “overweight” rating in a research report on Thursday, September 3rd. Mizuho raised shares of Climb Bio to a “strong-buy” rating in a research report on Wednesday, September 16th. B. Riley Financial reiterated a “buy” rating on shares of Climb Bio in a research note on Friday, September 4th. Wedbush reiterated an “outperform” rating and issued a $20.00 target price on shares of Climb Bio in a research note on Wednesday, August 19th. Finally, Raymond James Financial reissued a “strong-buy” rating and set a $34.00 target price on shares of Climb Bio in a research report on Monday, October 5th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Climb Bio presently has a consensus rating of “Buy” and a consensus price target of $27.62.

Climb Bio Stock Performance

The business’s 50 day moving average is $13.81 and its two-hundred day moving average is $11.99. The firm has a market capitalization of $562.05 million, a PE ratio of -11.78 and a beta of -0.04.

Climb Bio (NASDAQ:CLYM) last posted 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, equities research analysts predict that Climb Bio, Inc. will post -0.78 EPS for the current year.

Insider Activity

In related news, Director Stephen Thomas sold 100,000 shares of the company’s stock in a transaction 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of Climb Bio

Institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP purchased a new position in Climb Bio in the 1st quarter worth approximately $715,000. BlackRock Inc. bought a new stake in Climb Bio in the second quarter valued at approximately $30,708,000. Seven Fleet Capital Management LP purchased a new stake in shares of Climb Bio during the fourth quarter valued at approximately $306,000. Bank of New York Mellon Corp purchased a new stake in shares of Climb Bio during the second quarter valued at approximately $1,613,000. Finally, Braidwell LP boosted its stake 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 purchasing an additional 1,569,352 shares during the period. 69.76% of the stock is currently owned by hedge funds and other 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.