Climb Bio (NASDAQ:CLYM) Posts Earnings Results, Misses Expectations By $0.03 EPS

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

Climb Bio Trading Down 6.2%

Shares of Climb Bio stock traded down $0.12 on Friday, reaching $1.83. 511,528 shares of the company were exchanged, compared to its average volume of 900,274. Climb Bio has a fifty-two week low of $1.05 and a fifty-two week high of $4.34. The firm has a market capitalization of $124.00 million, a price-to-earnings ratio of -2.41 and a beta of -0.06. The stock has a fifty day moving average price of $2.09 and a 200-day moving average price of $1.67.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Robert W. Baird assumed coverage on Climb Bio in a research report on Friday, August 15th. They issued an “outperform” rating and a $9.00 target price for the company. BTIG Research reaffirmed a “buy” rating and set a $8.00 target price on shares of Climb Bio in a research note on Thursday, October 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Climb Bio in a report on Wednesday, October 8th. William Blair assumed coverage on shares of Climb Bio in a research report on Thursday, October 16th. They issued an “outperform” rating on the stock. Finally, HC Wainwright assumed coverage on shares of Climb Bio in a research report on Monday, October 13th. They set a “buy” rating and a $9.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $9.20.

Institutional Trading of Climb Bio

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

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.