Climb Bio, Inc. (NASDAQ:CLYM) Given Consensus Recommendation of “Buy” by Brokerages

by · The Markets Daily

Shares of Climb Bio, Inc. (NASDAQ:CLYM – Get Free Report) have received a consensus rating of “Buy” from the sixteen brokerages that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, thirteen have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $26.9231.

Several research analysts recently issued reports on the stock. HC Wainwright raised their target price on shares of Climb Bio from $24.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, September 8th. Mizuho upgraded Climb Bio to a “strong-buy” rating in a research note on Wednesday. Royal Bank Of Canada started coverage on Climb Bio in a report on Monday, August 3rd. They issued an “outperform” rating and a $23.00 price objective for the company. BTIG Research raised their target price on Climb Bio from $20.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, September 3rd. Finally, Guggenheim started coverage on Climb Bio in a report on Monday, June 8th. They issued a “buy” rating and a $35.00 price target for the company.

Check Out Our Latest Stock Analysis on Climb Bio

Insider Activity 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 completion of the sale, the director directly owned 467,969 shares in the company, valued at $6,397,136.23. The trade was a 17.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Climb Bio

Institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc purchased a new stake in Climb Bio in the 2nd quarter worth $45,000. Spark Investment Management LLC purchased a new position in Climb Bio during the second quarter valued at $177,000. State of Wyoming purchased a new position in Climb Bio during the second quarter valued at $187,000. Seven Fleet Capital Management LP acquired a new stake in shares of Climb Bio in the fourth quarter valued at about $306,000. Finally, Bank of America Corp DE acquired a new stake in shares of Climb Bio in the second quarter valued at about $335,000. Institutional investors and hedge funds own 69.76% of the company’s stock.

Climb Bio Trading Down 0.1%

Shares of NASDAQ:CLYM opened at $14.05 on Friday. Climb Bio has a twelve month low of $1.54 and a twelve month high of $18.33. The company’s 50 day moving average is $14.29 and its 200 day moving average is $11.38. The company has a market cap of $807.03 million, a PE ratio of -16.93 and a beta of 0.09.

Climb Bio (NASDAQ:CLYM – Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.03. Equities research analysts predict that Climb Bio will post -0.78 earnings per share for the current fiscal year.

About Climb Bio

(Get Free Report)

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.

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