Climb Bio (NASDAQ:CLYM) Given Buy Rating at BTIG Research

Climb Bio (NASDAQ:CLYM)‘s stock had its “buy” rating reaffirmed by stock analysts at BTIG Research in a note issued to investors on Monday,Benzinga reports. They currently have a $19.00 price objective on the stock. BTIG Research’s price target suggests a potential upside of 80.09% from the stock’s current price.

CLYM has been the topic of a number of other research reports. Mizuho initiated coverage on shares of Climb Bio in a report on Wednesday, April 15th. They issued an “outperform” rating and a $18.00 price objective on the stock. HC Wainwright raised their price objective on shares of Climb Bio from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Wedbush raised their price objective on shares of Climb Bio from $15.00 to $17.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Chardan Capital initiated coverage on shares of Climb Bio in a research note on Tuesday, May 5th. They set a “buy” rating and a $22.00 target price on the stock. Finally, Truist Financial initiated coverage on shares of Climb Bio in a research note on Tuesday, March 17th. They set a “buy” rating and a $17.00 target price on the stock. Three investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $20.30.

Climb Bio Stock Performance

CLYM opened at $10.55 on Monday. The company has a market cap of $604.12 million, a price-to-earnings ratio of -13.53 and a beta of 0.09. The company’s 50 day moving average is $9.55 and its 200 day moving average is $6.41. Climb Bio has a 12-month low of $1.16 and a 12-month high of $12.48.

Climb Bio (NASDAQ:CLYM) last posted its quarterly earnings data 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. As a group, analysts predict that Climb Bio will post -0.87 EPS for the current fiscal year.

Institutional Investors Weigh In On Climb Bio

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CLYM. MPM Bioimpact LLC bought a new stake in Climb Bio during the 4th quarter worth approximately $10,686,000. Price T Rowe Associates Inc. MD raised its position in shares of Climb Bio by 265.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,923,639 shares of the company’s stock valued at $7,695,000 after buying an additional 1,396,722 shares during the last quarter. ADAR1 Capital Management LLC raised its position in shares of Climb Bio by 972.8% during the fourth quarter. ADAR1 Capital Management LLC now owns 1,432,475 shares of the company’s stock valued at $5,730,000 after buying an additional 1,298,945 shares during the last quarter. Sphera Funds Management LTD. raised its position in shares of Climb Bio by 114.4% during the fourth quarter. Sphera Funds Management LTD. now owns 932,247 shares of the company’s stock valued at $3,729,000 after buying an additional 497,410 shares during the last quarter. Finally, Kotler Kevin bought a new stake in shares of Climb Bio during the fourth quarter valued at approximately $1,600,000. Institutional investors own 69.76% of the company’s stock.

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.