Climb Bio (NASDAQ:CLYM) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Climb Bio (NASDAQ:CLYM) announced its quarterly earnings results on Thursday. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.03, FiscalAI reports.

Climb Bio Price Performance

CLYM stock remained flat at $14.00 during midday trading on Friday. The company had a trading volume of 910,257 shares, compared to its average volume of 1,067,371. Climb Bio has a fifty-two week low of $1.54 and a fifty-two week high of $14.53. The company’s fifty day simple moving average is $12.36 and its 200 day simple moving average is $9.30. The stock has a market capitalization of $801.64 million, a P/E ratio of -16.87 and a beta of 0.08.

Analyst Ratings Changes

CLYM has been the topic of a number of recent research reports. HC Wainwright reaffirmed a “buy” rating and issued a $20.00 target price on shares of Climb Bio in a research report on Wednesday, June 24th. Guggenheim began coverage on Climb Bio in a research report on Monday, June 8th. They set a “buy” rating and a $35.00 price target for the company. BTIG Research lifted their price target on Climb Bio from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, June 11th. Truist Financial upped their price target on shares of Climb Bio from $17.00 to $25.00 and gave the company a “buy” rating in a research note on Friday. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Climb Bio in a report on Friday, July 17th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $22.75.

Hedge Funds Weigh In On Climb Bio

Several hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC acquired a new position in shares of Climb Bio in the 1st quarter valued at approximately $27,000. Goldman Sachs Group Inc. acquired a new position in Climb Bio during the first quarter valued at approximately $147,000. Marshall Wace LLP bought a new stake in Climb Bio during the second quarter worth $46,000. Qube Research & Technologies Ltd bought a new stake in Climb Bio during the second quarter worth $43,000. Finally, Jane Street Group LLC acquired a new stake in shares of Climb Bio in the 2nd quarter valued at $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.