Climb Bio (NASDAQ:CLYM) Director Stephen Basil Thomas Sells 100,000 Shares of Stock

Climb Bio, Inc. (NASDAQ:CLYM) Director Stephen Basil Thomas sold 100,000 shares of the firm’s 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 of the company’s stock, valued at $6,397,136.23. This represents a 17.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Climb Bio Stock Down 0.4%

Shares of Climb Bio stock traded down $0.05 during trading on Thursday, reaching $14.06. The company’s stock had a trading volume of 987,390 shares, compared to its average volume of 1,016,128. Climb Bio, Inc. has a 12-month low of $1.54 and a 12-month high of $18.33. The company has a market capitalization of $807.61 million, a P/E ratio of -16.94 and a beta of 0.09. The business has a 50 day moving average price of $14.28 and a 200-day moving average price of $11.31.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CLYM. Wedbush reissued an “outperform” rating and set a $20.00 price target on shares of Climb Bio in a research note on Wednesday, August 19th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Climb Bio in a research note on Friday, July 17th. Royal Bank Of Canada assumed coverage on Climb Bio in a research note on Monday, August 3rd. They issued an “outperform” rating and a $23.00 price objective for the company. B Riley reaffirmed a “buy” rating on shares of Climb Bio in a report on Friday, September 4th. Finally, Piper Sandler set a $40.00 target price on Climb Bio and gave the stock an “overweight” rating in a research report on Thursday, September 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued 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.

Hedge Funds Weigh In On Climb Bio

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Spark Investment Management LLC acquired a new stake in shares of Climb Bio in the second quarter valued at approximately $177,000. Braidwell LP raised its position in shares of Climb Bio by 102.6% during the 2nd quarter. Braidwell LP now owns 3,099,027 shares of the company’s stock worth $40,411,000 after purchasing an additional 1,569,352 shares during the last quarter. Wellington Management Group LLP acquired a new position in shares of Climb Bio during the 2nd quarter worth approximately $1,262,000. Bank of America Corp DE purchased a new stake in Climb Bio in the 2nd quarter valued at approximately $335,000. Finally, ADAR1 Capital Management LLC purchased a new stake in Climb Bio in the 2nd quarter valued at approximately $10,727,000. Institutional investors and hedge funds own 69.76% of the company’s stock.

About Climb Bio

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.