Climb Bio (NASDAQ:CLYM) Stock Rating Upgraded by Mizuho

Climb Bio (NASDAQ:CLYM) was upgraded by equities research analysts at Mizuho to a “strong-buy” rating in a research report issued to clients and investors on Wednesday, Zacks reports.

Several other analysts also recently issued reports on the stock. Truist Financial lifted their price target on shares of Climb Bio from $17.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Robert W. Baird upped their price objective on shares of Climb Bio from $21.00 to $25.00 and gave the stock an “outperform” rating in a report on Thursday, September 3rd. Piper Sandler set a $40.00 price objective on shares of Climb Bio and gave the company an “overweight” rating in a research note on Thursday, September 3rd. Royal Bank Of Canada began coverage on shares of Climb Bio in a report on Monday, August 3rd. They set an “outperform” rating and a $23.00 price objective for the company. Finally, B. Riley Financial reissued a “buy” rating and set a $30.00 target price (up from $26.00) on shares of Climb Bio in a research report on Friday, September 4th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $26.92.

Climb Bio Stock Performance

Shares of NASDAQ:CLYM opened at $14.06 on Wednesday. Climb Bio has a 52-week low of $1.54 and a 52-week high of $18.33. The business’s 50 day simple moving average is $14.29 and its two-hundred day simple moving average is $11.36. The firm has a market cap of $807.55 million, a P/E ratio of -16.94 and a beta of 0.09.

Climb Bio (NASDAQ:CLYM) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.21) by $0.03. On average, equities analysts forecast that Climb Bio will post -0.78 earnings per share for the current fiscal year.

Insider Activity

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 stock was sold at an average price of $13.67, for a total transaction of $1,367,000.00. Following the transaction, the director owned 467,969 shares of the company’s stock, valued at $6,397,136.23. The trade was a 17.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Climb Bio

Large investors have recently bought and sold shares of the stock. Spark Investment Management LLC purchased a new position in Climb Bio during the 2nd quarter worth $177,000. Braidwell LP raised its holdings in shares of Climb Bio by 102.6% in 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 last quarter. Wellington Management Group LLP purchased a new stake in shares of Climb Bio in the second quarter valued at about $1,262,000. Bank of America Corp DE bought a new position in shares of Climb Bio during the second quarter valued at about $335,000. Finally, ADAR1 Capital Management LLC bought a new position in shares of Climb Bio during the second quarter valued at about $10,727,000. 69.76% of the stock is currently owned by institutional investors.

Climb Bio Company Profile

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.