Key Points
- Climb Bio director Stephen Basil Thomas sold 100,000 shares at an average price of $13.67, generating $1.37 million. The transaction reduced his direct ownership by 17.61% to 467,969 shares.
- CLYM shares opened at $14.06, with a market capitalization of approximately $807.6 million. The stock has traded between $1.54 and $18.33 over the past year, while the company reported quarterly EPS of -$0.18, ahead of analyst expectations.
- Analyst sentiment remains broadly positive, with a consensus “Buy” rating and an average price target of $26.92; institutional investors own approximately 69.76% of the stock.
Climb Bio, Inc. (NASDAQ:CLYM - Get Free Report) Director Stephen Basil 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Climb Bio Price Performance
Shares of CLYM stock opened at $14.06 on Friday. The company has a market cap of $807.55 million, a PE ratio of -16.94 and a beta of 0.09. Climb Bio, Inc. has a 1 year low of $1.54 and a 1 year high of $18.33. The stock's 50 day simple moving average is $14.29 and its two-hundred day simple moving average is $11.36.
Climb Bio (NASDAQ:CLYM - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported ($0.18) EPS for the quarter, topping analysts' consensus estimates of ($0.21) by $0.03. Equities research analysts expect that Climb Bio, Inc. will post -0.78 EPS for the current year.
Institutional Investors Weigh In On Climb Bio
Hedge funds have recently made changes to their positions in the stock. Legal & General Group Plc bought a new stake in shares of Climb Bio in the 2nd quarter valued at about $45,000. Spark Investment Management LLC bought a new position in shares of Climb Bio during the 2nd quarter worth approximately $177,000. State of Wyoming purchased a new stake in Climb Bio during the second quarter valued at approximately $187,000. The Manufacturers Life Insurance Company boosted its stake in Climb Bio by 11.2% in the first quarter. The Manufacturers Life Insurance Company now owns 156,317 shares of the company's stock valued at $1,071,000 after acquiring an additional 15,700 shares in the last quarter. Finally, Bank of America Corp DE purchased a new position in Climb Bio in the second quarter worth $335,000. 69.76% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on CLYM shares. Oppenheimer upped their target price on Climb Bio from $18.00 to $25.00 and gave the company an "outperform" rating in a research note on Tuesday, September 8th. Wedbush reiterated an "outperform" rating and set a $20.00 target price on shares of Climb Bio in a report on Wednesday, August 19th. Weiss Ratings reissued a "sell (d-)" rating on shares of Climb Bio in a research report on Friday, July 17th. Piper Sandler set a $40.00 price target on shares of Climb Bio and gave the company an "overweight" rating in a report on Thursday, September 3rd. Finally, Royal Bank Of Canada initiated coverage on shares of Climb Bio in a research report on Monday, August 3rd. They issued an "outperform" rating and a $23.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $26.92.
Get Our Latest Analysis on CLYM
Climb Bio Company Profile
(
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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