Climb Bio (NASDAQ:CLYM) Releases Earnings Results, Misses Estimates By $0.03 EPS

Climb Bio (NASDAQ:CLYM) released its quarterly earnings data on Thursday. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.03), Zacks reports.

Climb Bio Stock Performance

Shares of CLYM traded down $0.12 during midday trading on Friday, hitting $1.83. 511,528 shares of the stock traded hands, compared to its average volume of 900,274. The business’s 50 day moving average price is $2.09 and its two-hundred day moving average price is $1.67. The firm has a market capitalization of $124.00 million, a PE ratio of -2.41 and a beta of -0.06. Climb Bio has a 1-year low of $1.05 and a 1-year high of $4.34.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CLYM. Shay Capital LLC grew its holdings in Climb Bio by 107.5% in the 2nd quarter. Shay Capital LLC now owns 415,000 shares of the company’s stock worth $515,000 after buying an additional 215,000 shares in the last quarter. Jane Street Group LLC bought a new stake in Climb Bio during the 2nd quarter valued at $184,000. Goldman Sachs Group Inc. acquired a new position in Climb Bio during the 1st quarter worth $147,000. Marshall Wace LLP bought a new position in shares of Climb Bio in the second quarter worth $46,000. Finally, Qube Research & Technologies Ltd bought a new position in shares of Climb Bio in the second quarter worth $43,000. Institutional investors own 69.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CLYM shares. Robert W. Baird started coverage on shares of Climb Bio in a research report on Friday, August 15th. They set an “outperform” rating and a $9.00 price target on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Climb Bio in a research report on Wednesday, October 8th. William Blair initiated coverage on Climb Bio in a report on Thursday, October 16th. They issued an “outperform” rating for the company. Wall Street Zen lowered Climb Bio from a “hold” rating to a “strong sell” rating in a research report on Saturday. Finally, BTIG Research reaffirmed a “buy” rating and issued a $8.00 target price on shares of Climb Bio in a research report on Thursday, October 16th. Two research analysts have rated the stock with a Strong Buy rating, six 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 a consensus rating of “Buy” and an average target price of $9.20.

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.