Climb Bio (NASDAQ:CLYM) Stock Price Expected to Rise, HC Wainwright Analyst Says

Climb Bio (NASDAQ:CLYM) had its price target boosted by HC Wainwright from $15.00 to $20.00 in a report released on Tuesday, MarketBeat reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price objective would suggest a potential upside of 79.86% from the stock’s current price.

A number of other equities analysts have also recently issued reports on CLYM. Weiss Ratings reiterated a “sell (d-)” rating on shares of Climb Bio in a research note on Monday, April 20th. Wedbush upped their target price on shares of Climb Bio from $15.00 to $17.00 and gave the company an “outperform” rating in a research note on Friday. Wall Street Zen upgraded shares of Climb Bio from a “sell” rating to a “hold” rating in a research note on Saturday. Piper Sandler initiated coverage on shares of Climb Bio in a research note on Friday, February 13th. They set an “overweight” rating on the stock. Finally, B. Riley Financial initiated coverage on shares of Climb Bio in a research note on Tuesday, March 24th. They set a “buy” rating and a $26.00 target price on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Climb Bio presently has a consensus rating of “Buy” and an average price target of $20.30.

Climb Bio Price Performance

Shares of Climb Bio stock opened at $11.12 on Tuesday. The stock has a market cap of $636.73 million, a price-to-earnings ratio of -14.26 and a beta of 0.02. The firm’s 50-day moving average is $8.06 and its 200 day moving average is $5.20. Climb Bio has a 1 year low of $1.13 and a 1 year high of $12.48.

Climb Bio (NASDAQ:CLYM) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.06. On average, equities analysts expect that Climb Bio will post -1.07 EPS for the current fiscal year.

Hedge Funds Weigh In On Climb Bio

Institutional investors have recently made changes to their positions in the business. Virtu Financial LLC bought a new position in shares of Climb Bio in the 4th quarter worth approximately $43,000. Blair William & Co. IL bought a new position in shares of Climb Bio in the 4th quarter worth approximately $44,000. Balyasny Asset Management L.P. bought a new position in shares of Climb Bio in the 4th quarter worth approximately $57,000. Vanguard Personalized Indexing Management LLC bought a new position in shares of Climb Bio in the 3rd quarter worth approximately $29,000. Finally, AQR Capital Management LLC bought a new position in shares of Climb Bio in the 1st quarter worth approximately $27,000. Institutional investors own 69.76% of the company’s stock.

Climb Bio Company Profile

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.