Climb Bio (NASDAQ:CLYM) Posts Earnings Results, Beats Expectations By $0.02 EPS

Climb Bio (NASDAQ:CLYM) announced its quarterly earnings results on Thursday. The company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.02, FiscalAI reports.

Climb Bio Price Performance

Shares of NASDAQ:CLYM traded up $1.42 during trading on Friday, hitting $10.29. The company’s stock had a trading volume of 1,139,861 shares, compared to its average volume of 1,064,859. The company has a 50-day moving average of $12.00 and a 200-day moving average of $10.44. Climb Bio has a 12 month low of $1.63 and a 12 month high of $18.33. The firm has a market cap of $591.06 million, a price-to-earnings ratio of -12.40 and a beta of 0.01.

Wall Street Analyst Weigh In

CLYM has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft assumed coverage on Climb Bio in a research note on Tuesday, October 20th. They set a “buy” rating and a $28.00 target price on the stock. HC Wainwright restated a “buy” rating on shares of Climb Bio in a research note on Monday, October 12th. Wedbush upped their price target on Climb Bio from $25.00 to $27.00 and gave the company an “outperform” rating in a report on Thursday. Oppenheimer increased their price objective on Climb Bio from $18.00 to $25.00 and gave the company an “outperform” rating in a research report on Tuesday, September 8th. Finally, Robert W. Baird increased their price objective on Climb Bio from $21.00 to $25.00 and gave the company an “outperform” rating in a research report on Thursday, September 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $28.14.

Insider Transactions at Climb Bio

In related news, Director Stephen Thomas sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $13.67, for a total transaction of $1,367,000.00. Following the completion of the sale, the director directly owned 467,969 shares in the company, valued at approximately $6,397,136.23. The trade was a 17.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 2.60% of the company’s stock.

Climb Bio Company Profile

Climb Bio, Inc (NASDAQ: CLYM) is a clinical-stage biotechnology company focused on developing therapies for autoimmune diseases. The company is working to create medicines that target B cells, which play a central role in the immune responses associated with many autoimmune disorders.

Climb Bio’s lead investigational product, CLYM116, is a fully human anti-CD19 monoclonal antibody designed to selectively deplete B cells. The therapy is being evaluated in clinical development for autoimmune conditions, including primary membranous nephropathy, a kidney disorder in which abnormal immune activity can damage the kidneys.

As a development-stage biotechnology company, Climb Bio’s activities are centered on research, clinical trials and the potential commercialization of its pipeline rather than on marketed products.