Climb Bio (NASDAQ:CLYM) Director Ra Capital Management, L.P. Buys 101,462 Shares

by · The Cerbat Gem

Climb Bio, Inc. (NASDAQ:CLYM – Get Free Report) Director Ra Capital Management, L.P. acquired 101,462 shares of the company’s stock in a transaction dated Friday, December 12th. The stock was purchased at an average cost of $2.86 per share, for a total transaction of $290,181.32. Following the purchase, the director directly owned 3,396,318 shares in the company, valued at approximately $9,713,469.48. This represents a 3.08% increase in their position. The purchase was disclosed in a filing with the SEC, which is available through this link.

Ra Capital Management, L.P. also recently made the following trade(s):

  • On Thursday, December 11th, Ra Capital Management, L.P. bought 213,099 shares of Climb Bio stock. The shares were purchased at an average cost of $2.18 per share, with a total value of $464,555.82.

Climb Bio Stock Up 27.0%

Climb Bio stock traded up $0.81 during midday trading on Monday, hitting $3.81. The company’s stock had a trading volume of 22,503,757 shares, compared to its average volume of 795,270. Climb Bio, Inc. has a 12 month low of $1.05 and a 12 month high of $4.82. The company has a market capitalization of $259.77 million, a PE ratio of -5.01 and a beta of -0.06. The stock’s 50-day moving average price is $1.97 and its 200-day moving average price is $1.80.

Climb Bio (NASDAQ:CLYM – Get Free Report) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.03). As a group, equities analysts anticipate that Climb Bio, Inc. will post -1.57 EPS for the current year.

Institutional Investors Weigh In On Climb Bio

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. AQR Capital Management LLC acquired a new stake in Climb Bio in the first quarter valued at approximately $27,000. Vanguard Personalized Indexing Management LLC bought a new stake in shares of Climb Bio during the 3rd quarter worth about $29,000. XTX Topco Ltd acquired a new position in shares of Climb Bio during the 1st quarter valued at about $34,000. Qube Research & Technologies Ltd acquired a new position in shares of Climb Bio during the 2nd quarter valued at about $43,000. Finally, Marshall Wace LLP bought a new position in shares of Climb Bio in the 2nd quarter valued at approximately $46,000. 69.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Wall Street Zen downgraded Climb Bio from a “hold” rating to a “strong sell” rating in a report on Saturday, November 8th. BTIG Research restated a “buy” rating and issued a $8.00 price target on shares of Climb Bio in a research report on Thursday, October 16th. HC Wainwright started 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 on the stock. William Blair initiated coverage on Climb Bio in a report on Thursday, October 16th. They set an “outperform” rating on the stock. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Climb Bio in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $9.00.

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About Climb Bio

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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.

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