Climb Bio, Inc. (NASDAQ:CLYM) Receives Consensus Rating of “Buy” from Analysts

Shares of Climb Bio, Inc. (NASDAQ:CLYM) have been given an average recommendation of “Buy” by the fifteen brokerages that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $23.0833.

CLYM has been the subject of a number of research reports. Wedbush reiterated an “outperform” rating and issued a $20.00 price objective on shares of Climb Bio in a research note on Wednesday, August 19th. HC Wainwright raised their target price on shares of Climb Bio from $20.00 to $24.00 and gave the stock a “buy” rating in a research report on Monday. Chardan Capital started coverage on shares of Climb Bio in a report on Tuesday, May 5th. They issued a “buy” rating and a $22.00 target price on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Climb Bio in a research report on Friday, July 17th. Finally, BTIG Research increased their price target on shares of Climb Bio from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, June 11th.

Institutional Investors Weigh In On Climb Bio

Several hedge funds have recently made changes to their positions in CLYM. MPM Bioimpact LLC purchased a new stake in Climb Bio during the 4th quarter valued at approximately $10,686,000. BlackRock Inc. acquired a new stake in Climb Bio during the 2nd quarter worth approximately $30,708,000. Braidwell LP grew its stake in shares of Climb Bio by 102.6% in 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. Price T Rowe Associates Inc. MD grew its stake in shares of Climb Bio by 265.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,923,639 shares of the company’s stock valued at $7,695,000 after purchasing an additional 1,396,722 shares during the last quarter. Finally, ADAR1 Capital Management LLC increased its holdings in shares of Climb Bio by 972.8% in the fourth quarter. ADAR1 Capital Management LLC now owns 1,432,475 shares of the company’s stock valued at $5,730,000 after purchasing an additional 1,298,945 shares during the period. Institutional investors and hedge funds own 69.76% of the company’s stock.

Climb Bio Stock Performance

CLYM opened at $16.40 on Tuesday. The business’s 50-day simple moving average is $13.45 and its 200-day simple moving average is $10.20. Climb Bio has a one year low of $1.54 and a one year high of $18.14. The stock has a market capitalization of $942.02 million, a P/E ratio of -19.76 and a beta of 0.08.

Climb Bio (NASDAQ:CLYM) last announced its earnings results on Thursday, August 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.03. On average, equities research analysts forecast that Climb Bio will post -0.84 EPS for the current fiscal year.

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.