Climb Bio, Inc. (NASDAQ:CLYM) Short Interest Update

Climb Bio, Inc. (NASDAQ:CLYM) was the target of a significant decline in short interest in September. As of September 15th, there was short interest totaling 879,000 shares, a decline of 27.4% from the August 31st total of 1,210,000 shares. Based on an average trading volume of 535,800 shares, the short-interest ratio is currently 1.6 days. Currently, 1.5% of the shares of the stock are short sold. Currently, 1.5% of the shares of the stock are short sold. Based on an average trading volume of 535,800 shares, the short-interest ratio is currently 1.6 days.

Analyst Upgrades and Downgrades

Several brokerages have commented on CLYM. Robert W. Baird started coverage on shares of Climb Bio in a research note on Friday, August 15th. They issued an “outperform” rating and a $9.00 price target on the stock. Baird R W raised Climb Bio to a “strong-buy” rating in a research note on Friday, August 15th. Wall Street Zen raised shares of Climb Bio from a “sell” rating to a “hold” rating in a report on Monday. Weiss Ratings restated a “sell (d-)” rating on shares of Climb Bio in a research report on Saturday, September 27th. Finally, BTIG Research increased their price objective on shares of Climb Bio from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Tuesday, September 30th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Climb Bio has a consensus rating of “Buy” and an average price target of $9.25.

Climb Bio Price Performance

CLYM stock opened at $1.81 on Tuesday. Climb Bio has a 12 month low of $1.05 and a 12 month high of $5.47. The firm’s 50-day moving average is $2.05 and its 200 day moving average is $1.55. The company has a market capitalization of $122.65 million, a PE ratio of -2.59 and a beta of -0.07.

Climb Bio (NASDAQ:CLYM) last announced its quarterly earnings results on Tuesday, August 12th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.06. Sell-side analysts forecast that Climb Bio will post -1.57 EPS for the current fiscal year.

Hedge Funds Weigh In On Climb Bio

Institutional investors and hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp acquired a new position in Climb Bio during the first quarter worth $79,000. Peapod Lane Capital LLC purchased a new stake in Climb Bio during the first quarter worth about $676,000. TD Asset Management Inc purchased a new position in Climb Bio in the first quarter valued at $109,000. XTX Topco Ltd purchased a new stake in shares of Climb Bio during the 1st quarter worth approximately $34,000. Finally, Charles Schwab Investment Management Inc. purchased a new position in shares of Climb Bio in the 1st quarter valued at $86,000. 69.76% of the stock is currently owned by institutional investors and hedge funds.

Climb Bio Company Profile

Climb Bio Inc is a clinical-stage biotechnology company developing therapeutics for patients with immune-mediated diseases. The Company’s lead product candidate, budoprutug, is an anti-CD19 monoclonal antibody which has demonstrated B-cell depletion and has potential to treat a broad range of B-cell mediated diseases.