Climb Bio (NASDAQ:CLYM) Stock Breaks Above Two Hundred Day Moving Average – Time to Sell?

Climb Bio, Inc. (NASDAQ:CLYM) passed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $10.30 and traded as high as $10.55. Climb Bio shares last traded at $10.33, with a volume of 688,982 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CLYM shares. Mizuho raised shares of Climb Bio to a “strong-buy” rating in a research report on Wednesday, September 16th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Climb Bio in a research note on Tuesday, October 20th. They set a “buy” rating and a $28.00 price target on the stock. Oppenheimer raised their price target on shares of Climb Bio from $18.00 to $25.00 and gave the company an “outperform” rating in a report on Tuesday, September 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Climb Bio in a research note on Thursday, October 15th. Finally, Wall Street Zen cut shares of Climb Bio from a “hold” rating to a “sell” rating in a report on Saturday, October 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $27.64.

Climb Bio Stock Down 0.8%

The company has a market cap of $588.76 million, a P/E ratio of -12.35 and a beta of -0.04. The stock’s 50-day moving average price is $12.60 and its 200 day moving average price is $10.33.

Climb Bio (NASDAQ:CLYM) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.03. Analysts expect that Climb Bio, Inc. will post -0.80 earnings per share for the current fiscal year.

Insider Transactions at Climb Bio

In other news, Director Stephen Thomas sold 100,000 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $6,397,136.23. This trade represents a 17.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.60% of the stock is owned by company insiders.

Institutional Trading of Climb Bio

Hedge funds have recently added to or reduced their stakes in the business. Profund Advisors LLC acquired a new stake in shares of Climb Bio in the third quarter worth $190,000. State of Wyoming bought a new position in Climb Bio during the third quarter worth $31,000. Spark Investment Management LLC acquired a new position in Climb Bio during the 2nd quarter valued at $177,000. Braidwell LP raised its stake in Climb Bio by 102.6% during the 2nd quarter. Braidwell LP now owns 3,099,027 shares of the company’s stock valued at $40,411,000 after purchasing an additional 1,569,352 shares during the last quarter. Finally, Wellington Management Group LLP bought a new stake in Climb Bio in the 2nd quarter valued at $1,262,000. Institutional investors own 69.76% of the company’s stock.

About Climb Bio

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.