Climb Bio’s (CLYM) Buy Rating Reiterated at BTIG Research

BTIG Research restated their buy rating on shares of Climb Bio (NASDAQ:CLYM) in a research note published on Tuesday morning,Benzinga reports. BTIG Research currently has a $32.00 target price on the stock.

Several other brokerages have also recently weighed in on CLYM. Wall Street Zen cut shares of Climb Bio from a “hold” rating to a “sell” rating in a report on Saturday, October 3rd. Truist Financial boosted their price target on shares of Climb Bio from $17.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Piper Sandler set a $40.00 price target on shares of Climb Bio and gave the stock an “overweight” rating in a report on Thursday, September 3rd. HC Wainwright reissued a “buy” rating on shares of Climb Bio in a research report on Monday, October 12th. Finally, Oppenheimer raised their price objective 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. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Climb Bio presently has an average rating of “Buy” and an average price target of $27.64.

Climb Bio Stock Performance

Climb Bio stock opened at $10.33 on Tuesday. The company has a market capitalization of $593.36 million, a PE ratio of -12.45 and a beta of -0.04. Climb Bio has a fifty-two week low of $1.63 and a fifty-two week high of $18.33. The firm has a 50 day moving average price of $12.74 and a 200 day moving average price of $10.30.

Climb Bio (NASDAQ:CLYM) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.03. As a group, equities research analysts forecast that Climb Bio will post -0.80 earnings per share for the current year.

Insider Transactions at Climb Bio

In other news, Director Stephen Thomas sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $13.67, for a total value of $1,367,000.00. Following the transaction, the director owned 467,969 shares of the company’s stock, valued at approximately $6,397,136.23. The trade was a 17.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Climb Bio

Large investors have recently bought and sold shares of the company. State of Wyoming purchased a new stake in shares of Climb Bio in the third quarter valued at about $31,000. Legal & General Group Plc acquired a new position in shares of Climb Bio during the second quarter worth about $45,000. Spark Investment Management LLC purchased a new position in Climb Bio during the second quarter worth about $177,000. Profund Advisors LLC purchased a new position in Climb Bio during the third quarter worth about $190,000. Finally, Bank of America Corp DE acquired a new stake in Climb Bio in the second quarter valued at about $335,000. Hedge funds and other institutional investors own 69.76% of the company’s stock.

Climb Bio Company Profile

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.