Climb Bio’s (CLYM) Outperform Rating Reiterated at Wedbush

Climb Bio (NASDAQ:CLYM)‘s stock had its “outperform” rating restated by stock analysts at Wedbush in a research report issued on Wednesday,Benzinga reports. They presently have a $20.00 price objective on the stock. Wedbush’s price objective would indicate a potential upside of 15.01% from the company’s current price.

Other research analysts also recently issued research reports about the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Climb Bio in a research report on Friday, July 17th. Chardan Capital started coverage on Climb Bio in a research report on Tuesday, May 5th. They set a “buy” rating and a $22.00 target price on the stock. BTIG Research upped their price objective on shares of Climb Bio from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, June 11th. Royal Bank Of Canada assumed coverage on shares of Climb Bio in a research report on Monday, August 3rd. They issued an “outperform” rating and a $23.00 price target on the stock. Finally, Truist Financial upped their price target on Climb Bio from $17.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $22.75.

Climb Bio Price Performance

Shares of CLYM stock opened at $17.39 on Wednesday. Climb Bio has a one year low of $1.54 and a one year high of $17.53. The business’s 50 day simple moving average is $12.98 and its 200 day simple moving average is $9.85. The stock has a market capitalization of $998.88 million, a PE ratio of -20.95 and a beta of 0.08.

Climb Bio (NASDAQ:CLYM) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.18) earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.03. As a group, research analysts expect that Climb Bio will post -0.84 earnings per share for the current year.

Institutional Investors Weigh In On Climb Bio

Several large investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP purchased a new position in Climb Bio in the 1st quarter valued at approximately $715,000. Seven Fleet Capital Management LP purchased a new position in Climb Bio during the fourth quarter valued at approximately $306,000. ArchPoint Investors bought a new position in Climb Bio in the 4th quarter valued at $486,000. 683 Capital Management LLC purchased a new stake in shares of Climb Bio in the fourth quarter worth $807,000. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Climb Bio by 11.2% in the 1st quarter. The Manufacturers Life Insurance Company now owns 156,317 shares of the company’s stock valued at $1,071,000 after acquiring an additional 15,700 shares in the last quarter. Hedge funds and other 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.