Climb Bio (NASDAQ:CLYM) Stock Jumps 10.1% – Should You Buy?

Shares of Climb Bio, Inc. (NASDAQ:CLYM) were up 10.1% during trading on Tuesday. The company traded as high as $9.72 and last traded at $9.7030. 1,209,123 shares changed hands during trading, an increase of 15% from the average daily volume of 1,052,006 shares. The stock had previously closed at $8.81.

Analysts Set New Price Targets

Several research analysts have commented on CLYM shares. Guggenheim reiterated a “buy” rating on shares of Climb Bio in a report on Monday. Weiss Ratings reissued a “sell (d-)” rating on shares of Climb Bio in a research note on Thursday, October 15th. BTIG Research reaffirmed a “buy” rating and issued a $32.00 target price on shares of Climb Bio in a research report on Tuesday. Truist Financial lifted their price target on Climb Bio from $17.00 to $25.00 and gave the company a “buy” rating in a report on Friday, August 7th. Finally, Wall Street Zen lowered Climb Bio from a “hold” rating to a “sell” rating in a research report on Saturday, October 3rd. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $27.64.

Climb Bio Stock Up 13.3%

The business’s 50-day moving average price is $13.18 and its 200-day moving average price is $10.22. The firm has a market capitalization of $573.14 million, a PE ratio of -12.02 and a beta of -0.04.

Climb Bio (NASDAQ:CLYM) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.18) EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.03. On average, analysts anticipate that Climb Bio, Inc. will post -0.80 EPS for the current fiscal year.

Insiders Place Their Bets

In other Climb Bio news, Director Stephen Thomas sold 100,000 shares of Climb Bio stock in a transaction that occurred 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 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Climb Bio

Several hedge funds have recently bought and sold shares of the business. Braidwell LP lifted its position 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 worth $40,411,000 after buying an additional 1,569,352 shares during the last quarter. BlackRock Inc. acquired a new position in shares of Climb Bio during the 2nd quarter valued at about $30,708,000. ADAR1 Capital Management LLC bought a new position in shares of Climb Bio in the 2nd quarter valued at approximately $10,727,000. Parkman Healthcare Partners LLC bought a new position in shares of Climb Bio in the 2nd quarter valued at approximately $7,348,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in Climb Bio in the 2nd quarter worth approximately $2,148,000. 69.76% of the stock is owned by institutional investors and hedge funds.

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.