Brokerages Set Climb Bio, Inc. (NASDAQ:CLYM) Price Target at $21.64

Shares of Climb Bio, Inc. (NASDAQ:CLYM) have been given an average recommendation of “Buy” by the fourteen research firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, ten have issued a buy recommendation and three have assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $21.7273.

A number of equities research analysts have issued reports on the company. Robert W. Baird set a $21.00 target price on Climb Bio in a research report on Wednesday, May 6th. Truist Financial assumed coverage on Climb Bio in a research report on Tuesday, March 17th. They set a “buy” rating and a $17.00 target price for the company. BTIG Research upped their target price on Climb Bio from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, June 11th. Chardan Capital started coverage on Climb Bio in a research report on Tuesday, May 5th. They issued a “buy” rating and a $22.00 price objective for the company. Finally, Mizuho started coverage on Climb Bio in a research report on Wednesday, April 15th. They issued an “outperform” rating and a $18.00 price objective for the company.

Climb Bio Trading Up 5.9%

Shares of Climb Bio stock opened at $11.34 on Thursday. The company’s 50-day moving average price is $10.23 and its two-hundred day moving average price is $6.93. Climb Bio has a 52 week low of $1.16 and a 52 week high of $12.48. The stock has a market cap of $649.33 million, a PE ratio of -14.54 and a beta of 0.09.

Climb Bio (NASDAQ:CLYM) last issued its earnings results on Thursday, May 7th. The company reported ($0.20) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.06. On average, equities analysts predict that Climb Bio will post -0.87 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CLYM. AQR Capital Management LLC bought a new position in Climb Bio in the first quarter worth $27,000. Goldman Sachs Group Inc. bought a new position in Climb Bio in the first quarter worth $147,000. Marshall Wace LLP bought a new position in Climb Bio in the second quarter worth $46,000. Qube Research & Technologies Ltd bought a new position in Climb Bio in the second quarter worth $43,000. Finally, Jane Street Group LLC bought a new position in Climb Bio in the second quarter worth $184,000. 69.76% of the stock is owned by institutional investors.

About Climb Bio

Climb Bio Therapeutics, Inc is a clinical-stage biotechnology company focused on the discovery and development of engineered protein therapeutics for the treatment of cancer and immune-mediated disorders. The company’s mission centers on designing biologics with enhanced specificity and functional activity to engage key cellular targets and improve patient outcomes in areas of high unmet need.

At the heart of Climb Bio’s approach is its proprietary protein engineering platform, which combines mammalian cell display, directed evolution and computational modeling.