Climb Bio, Inc. $CLYM Position Boosted by Nan Fung Trinity HK Ltd.

Nan Fung Trinity HK Ltd. grew its position in Climb Bio, Inc. (NASDAQ:CLYM) by 212.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 360,654 shares of the company’s stock after acquiring an additional 245,160 shares during the quarter. Nan Fung Trinity HK Ltd.’s holdings in Climb Bio were worth $4,137,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Braidwell LP raised 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 in the last quarter. BlackRock Inc. purchased a new position in shares of Climb Bio in the second quarter valued at $30,708,000. ADAR1 Capital Management LLC purchased a new position in shares of Climb Bio in the second quarter valued at $10,727,000. Parkman Healthcare Partners LLC purchased a new position in shares of Climb Bio in the second quarter valued at $7,348,000. Finally, Jefferies Financial Group Inc. bought a new stake in Climb Bio in the third quarter worth $3,336,000. Institutional investors own 69.76% of the company’s stock.

Insider Transactions at Climb Bio

In other Climb Bio news, Director Stephen Thomas sold 100,000 shares of Climb Bio stock in a transaction 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 transaction, the director directly owned 467,969 shares of the company’s stock, valued at $6,397,136.23. The trade was a 17.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Oppenheimer upped their price target on shares of Climb Bio from $18.00 to $25.00 and gave the company an “outperform” rating in a research note on Tuesday, September 8th. Deutsche Bank initiated coverage on shares of Climb Bio in a research note on Tuesday, October 20th. They issued a “buy” rating and a $28.00 price objective for the company. Wedbush boosted their target price on shares of Climb Bio from $25.00 to $27.00 and gave the stock an “outperform” rating in a report on Thursday, November 5th. Royal Bank Of Canada initiated coverage on shares of Climb Bio in a research report on Monday, August 3rd. They set an “outperform” rating and a $23.00 target price on the stock. Finally, Piper Sandler restated an “overweight” rating on shares of Climb Bio in a research report on Tuesday, October 27th. Two 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $28.14.

Climb Bio Price Performance

NASDAQ:CLYM opened at $10.87 on Friday. The firm has a market capitalization of $638.50 million, a price-to-earnings ratio of -13.26 and a beta of 0.01. The business has a 50 day simple moving average of $11.66 and a 200-day simple moving average of $10.60. Climb Bio, Inc. has a 1 year low of $1.63 and a 1 year high of $18.33.

Climb Bio (NASDAQ:CLYM) last released its earnings results on Thursday, November 5th. The company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.02. As a group, analysts expect that Climb Bio, Inc. will post -0.75 earnings per share for the current fiscal year.

Climb Bio Profile

Climb Bio is a clinical-stage biopharmaceutical company developing treatments for autoimmune and inflammatory diseases, with a focus on conditions involving B cells and antibody production. Its lead candidate, budoprutug, is an antibody designed to engage CD19 and FcγRIIb to inhibit B-cell activity. The company is evaluating the candidate in clinical studies for immune-mediated diseases, including immune thrombocytopenia and membranous nephropathy. Climb Bio is also developing CLYM-116, an antibody targeting APRIL, a protein involved in B-cell and antibody activity.