Parkman Healthcare Partners LLC Invests $7.35 Million in Climb Bio, Inc. $CLYM

Parkman Healthcare Partners LLC bought a new stake in shares of Climb Bio, Inc. (NASDAQ:CLYM) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 563,484 shares of the company’s stock, valued at approximately $7,348,000.

A number of other institutional investors have also recently added to or reduced their stakes in CLYM. MPM Bioimpact LLC purchased a new stake in Climb Bio in the 4th quarter worth $10,686,000. BlackRock Inc. acquired a new position in Climb Bio during the second quarter worth $30,708,000. Price T Rowe Associates Inc. MD lifted its holdings in 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 purchasing an additional 1,396,722 shares in the last quarter. ADAR1 Capital Management LLC lifted its holdings in 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 purchasing an additional 1,298,945 shares in the last quarter. Finally, Sphera Funds Management LTD. lifted its holdings in 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 purchasing an additional 497,410 shares in the last quarter. Institutional investors and hedge funds own 69.76% of the company’s stock.

Climb Bio Stock Performance

NASDAQ CLYM opened at $16.40 on Tuesday. The business has a fifty day moving average price of $13.45 and a 200 day moving average price of $10.20. The company has a market cap of $942.02 million, a P/E ratio of -19.76 and a beta of 0.08. Climb Bio, Inc. has a one year low of $1.54 and a one year high of $18.14.

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, topping the consensus estimate of ($0.21) by $0.03. As a group, sell-side analysts predict that Climb Bio, Inc. will post -0.84 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on CLYM shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Climb Bio in a research note on Friday, July 17th. Truist Financial raised 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, August 7th. Guggenheim started coverage on shares of Climb Bio in a research note on Monday, June 8th. They issued a “buy” rating and a $35.00 price target on the stock. Wall Street Zen upgraded Climb Bio from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Chardan Capital assumed coverage on Climb Bio in a research note on Tuesday, May 5th. They set a “buy” rating and a $22.00 price objective for the company. Two equities research 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $23.08.

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.