Climb Bio (NASDAQ:CLYM) Issues Quarterly Earnings Results

Climb Bio (NASDAQ:CLYM) issued its earnings results on Thursday. The company reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.02, FiscalAI reports.

Climb Bio Stock Performance

Climb Bio stock traded down $0.46 during midday trading on Thursday, hitting $8.87. 1,435,453 shares of the company’s stock were exchanged, compared to its average volume of 1,173,261. The company has a market cap of $509.49 million, a P/E ratio of -10.69 and a beta of 0.01. The stock has a 50-day moving average price of $12.00 and a two-hundred day moving average price of $10.44. Climb Bio has a 52-week low of $1.63 and a 52-week high of $18.33.

Insider Buying and Selling at Climb Bio

In other Climb Bio news, Director Stephen Thomas sold 100,000 shares of the firm’s stock in a transaction dated 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 sale, the director owned 467,969 shares of the company’s stock, valued at $6,397,136.23. This trade represents a 17.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of Climb Bio from a “hold” rating to a “sell” rating in a report on Saturday, October 3rd. HC Wainwright reaffirmed a “buy” rating on shares of Climb Bio in a research note on Monday, October 12th. Deutsche Bank Aktiengesellschaft began coverage on shares of Climb Bio in a report on Tuesday, October 20th. They set a “buy” rating and a $28.00 target price on the stock. BTIG Research reiterated a “buy” rating and issued a $32.00 target price on shares of Climb Bio in a research note on Tuesday, October 27th. Finally, B. Riley Financial reiterated a “buy” rating on shares of Climb Bio in a research note on Friday, September 4th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $28.14.

About Climb Bio

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.