Climb Bio (NASDAQ:CLYM) Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of Climb Bio (NASDAQ:CLYM) from a hold rating to a sell rating in a research report report published on Sunday.

Other research analysts have also issued reports about the stock. Oppenheimer started coverage on shares of Climb Bio in a research report on Friday, June 6th. They issued an “outperform” rating and a $10.00 target price for the company. Baird R W upgraded Climb Bio to a “strong-buy” rating in a report on Friday, August 15th. Robert W. Baird assumed coverage on Climb Bio in a report on Friday, August 15th. They set an “outperform” rating and a $9.00 price objective on the stock. Finally, BTIG Research restated a “buy” rating and issued a $7.00 target price on shares of Climb Bio in a research report on Monday, September 22nd. Two analysts have rated the stock with a Strong Buy rating and four have issued a Buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $9.25.

Climb Bio Stock Up 1.0%

NASDAQ:CLYM opened at $2.01 on Friday. Climb Bio has a twelve month low of $1.05 and a twelve month high of $5.86. The stock has a market cap of $136.20 million, a P/E ratio of -2.87 and a beta of -0.05. The business’s 50-day moving average price is $2.02 and its two-hundred day moving average price is $1.53.

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

Institutional Investors Weigh In On Climb Bio

Several hedge funds have recently made changes to their positions in CLYM. RA Capital Management L.P. bought a new stake in shares of Climb Bio during the 1st quarter valued at $38,332,000. Affinity Asset Advisors LLC bought a new stake in Climb Bio during the 1st quarter valued at about $1,830,000. Diadema Partners LP raised its holdings in Climb Bio by 4.8% in the second quarter. Diadema Partners LP now owns 702,135 shares of the company’s stock worth $871,000 after buying an additional 32,332 shares during the last quarter. Peapod Lane Capital LLC purchased a new stake in shares of Climb Bio during the first quarter valued at approximately $676,000. Finally, Nan Fung Trinity HK Ltd. bought a new stake in shares of Climb Bio during the second quarter valued at approximately $575,000. 69.76% of the stock is currently owned by institutional investors.

About Climb Bio

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.