Climb Bio (NASDAQ:CLYM) Downgraded to “Sell” Rating by Wall Street Zen

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

Several other brokerages also recently issued reports on CLYM. Robert W. Baird initiated coverage on Climb Bio in a research report on Friday, August 15th. They set an “outperform” rating and a $9.00 price objective for the company. BTIG Research reaffirmed a “buy” rating and issued a $7.00 target price on shares of Climb Bio in a research note on Monday, September 22nd. Oppenheimer began coverage on shares of Climb Bio in a research note on Friday, June 6th. They issued an “outperform” rating and a $10.00 target price for the company. Finally, Baird R W raised shares of Climb Bio to a “strong-buy” rating in a research note on Friday, August 15th. Two investment analysts have rated the stock with a Strong Buy rating and four have given a Buy rating to the company’s stock. According to data from MarketBeat, Climb Bio presently has an average rating of “Buy” and an average price target of $9.00.

Climb Bio Price Performance

Shares of Climb Bio stock opened at $2.13 on Friday. Climb Bio has a 1 year low of $1.05 and a 1 year high of $5.86. The company has a market capitalization of $144.33 million, a P/E ratio of -3.04 and a beta of -0.05. The business has a 50 day moving average price of $1.99 and a 200 day moving average price of $1.52.

Climb Bio (NASDAQ:CLYM) last issued its quarterly earnings data on Tuesday, August 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.06. As a group, research analysts expect that Climb Bio will post -1.57 EPS for the current fiscal year.

Institutional Trading of Climb Bio

Institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC purchased a new stake in shares of Climb Bio during the 1st quarter valued at $27,000. XTX Topco Ltd purchased a new stake in shares of Climb Bio during the 1st quarter valued at $34,000. Qube Research & Technologies Ltd purchased a new stake in shares of Climb Bio during the 2nd quarter valued at $43,000. Marshall Wace LLP purchased a new stake in shares of Climb Bio during the 2nd quarter valued at $46,000. Finally, Nuveen LLC purchased a new stake in shares of Climb Bio during the 1st quarter valued at $48,000. 69.76% of the stock is owned by hedge funds and other institutional investors.

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.