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

Climb Bio, Inc. (NASDAQ:CLYM) Director Stephen Basil Thomas sold 100,000 shares of the company’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $13.67, for a total transaction of $1,367,000.00. Following the completion of the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Climb Bio Stock Down 0.4%

NASDAQ:CLYM opened at $14.06 on Friday. The business’s 50-day simple moving average is $14.29 and its two-hundred day simple moving average is $11.36. The stock has a market cap of $807.55 million, a PE ratio of -16.94 and a beta of 0.09. Climb Bio, Inc. has a 52 week low of $1.54 and a 52 week high of $18.33.

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

Institutional Trading of Climb Bio

A number of large investors have recently added to or reduced their stakes in CLYM. Legal & General Group Plc purchased a new position in shares of Climb Bio in the second quarter valued at $45,000. Spark Investment Management LLC purchased a new stake in Climb Bio during the second quarter valued at $177,000. State of Wyoming bought a new position in Climb Bio during the second quarter valued at $187,000. Seven Fleet Capital Management LP bought a new position in Climb Bio during the fourth quarter valued at $306,000. Finally, Bank of America Corp DE purchased a new position in shares of Climb Bio in the 2nd quarter worth $335,000. Institutional investors own 69.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Robert W. Baird lifted their price objective on shares of Climb Bio from $21.00 to $25.00 and gave the company an “outperform” rating in a research report on Thursday, September 3rd. Truist Financial upped their target price on shares of Climb Bio from $17.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Guggenheim began coverage on shares of Climb Bio in a research note on Monday, June 8th. They set a “buy” rating and a $35.00 target price for the company. HC Wainwright lifted their price target on shares of Climb Bio from $24.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, September 8th. Finally, B Riley reiterated a “buy” rating on shares of Climb Bio in a research note on Friday, September 4th. Two investment 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $26.92.

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.