Climb Bio (NASDAQ:CLYM) Announces Earnings Results

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

Climb Bio Stock Performance

NASDAQ:CLYM traded down $0.46 during mid-day trading on Thursday, reaching $8.87. The stock had a trading volume of 1,435,453 shares, compared to its average volume of 1,173,261. The stock has a market capitalization of $509.49 million, a P/E ratio of -10.69 and a beta of 0.01. The firm 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 one year low of $1.63 and a one year high of $18.33.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. B. Riley Financial restated a “buy” rating on shares of Climb Bio in a research report on Friday, September 4th. Truist Financial upped their target price on shares of Climb Bio from $17.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Mizuho raised Climb Bio to a “strong-buy” rating in a research note on Wednesday, September 16th. Oppenheimer raised their price target on Climb Bio from $18.00 to $25.00 and gave the company an “outperform” rating in a research report on Tuesday, September 8th. Finally, Robert W. Baird raised their price target on Climb Bio from $21.00 to $25.00 and gave the company an “outperform” rating in a research report on Thursday, September 3rd. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Climb Bio presently has a consensus rating of “Buy” and a consensus price target of $28.14.

Insider Buying and Selling

In other Climb Bio news, Director Stephen Thomas sold 100,000 shares of the stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $13.67, for a total transaction of $1,367,000.00. Following the transaction, the director directly owned 467,969 shares in the company, valued at $6,397,136.23. This trade represents a 17.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.60% of the stock is owned by insiders.

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.