Deutsche Bank Aktiengesellschaft Begins Coverage on Climb Bio (NASDAQ:CLYM)

Research analysts at Deutsche Bank Aktiengesellschaft initiated coverage on shares of Climb Bio (NASDAQ:CLYM) in a research note issued on Tuesday, Briefing.com reports. The brokerage set a “buy” rating and a $28.00 price target on the stock. Deutsche Bank Aktiengesellschaft’s price target points to a potential upside of 187.77% from the company’s previous close.

Several other analysts have also recently weighed in on the stock. BTIG Research raised their price objective on shares of Climb Bio from $20.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, September 3rd. Piper Sandler set a $40.00 price target on Climb Bio and gave the company an “overweight” rating in a research report on Thursday, September 3rd. Royal Bank Of Canada started coverage on Climb Bio in a research note on Monday, August 3rd. They set an “outperform” rating and a $23.00 price target for the company. B. Riley Financial reiterated a “buy” rating on shares of Climb Bio in a research report on Friday, September 4th. Finally, Raymond James Financial reissued a “strong-buy” rating and set a $34.00 price objective on shares of Climb Bio in a report on Monday, October 5th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $27.64.

Climb Bio Stock Down 0.9%

Shares of NASDAQ CLYM opened at $9.73 on Tuesday. The firm has a market capitalization of $558.89 million, a P/E ratio of -11.72 and a beta of -0.04. The stock’s 50-day simple moving average is $13.65 and its two-hundred day simple moving average is $12.04. Climb Bio has a twelve month low of $1.63 and a twelve month high of $18.33.

Climb Bio (NASDAQ:CLYM) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.03. As a group, research analysts anticipate that Climb Bio will post -0.78 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Stephen Thomas sold 100,000 shares of Climb Bio stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $13.67, for a total value of $1,367,000.00. Following the sale, the director directly owned 467,969 shares in the company, valued at approximately $6,397,136.23. This trade represents a 17.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in Climb Bio in the second quarter worth about $30,708,000. Braidwell LP grew its holdings 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 acquiring an additional 1,569,352 shares during the period. ADAR1 Capital Management LLC purchased a new position in shares of Climb Bio during the 2nd quarter worth approximately $10,727,000. Parkman Healthcare Partners LLC purchased a new position in shares of Climb Bio during the 2nd quarter worth approximately $7,348,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Climb Bio in the 2nd quarter worth approximately $2,148,000. 69.76% of the stock is currently owned by institutional investors.

Climb Bio Company Profile

Climb Bio, Inc is a clinical-stage biotechnology company focused on developing novel therapies for patients with immune-mediated diseases, including autoimmune disorders. The company’s research is centered on addressing underlying drivers of abnormal immune activity and developing treatments intended to provide durable disease control.

Climb Bio’s activities include the discovery, development and clinical evaluation of investigational biologic medicines. Its programs are designed to target pathways involved in B-cell function, autoantibody production and other mechanisms that contribute to autoimmune disease.