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

Shares of Climb Bio, Inc. (NASDAQ:CLYM) have earned an average rating of “Buy” from the fifteen analysts that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $23.0833.

CLYM has been the topic of several recent analyst reports. Royal Bank Of Canada began coverage on Climb Bio in a research note on Monday, August 3rd. They set an “outperform” rating and a $23.00 target price on the stock. Wedbush reissued an “outperform” rating and issued a $20.00 price target on shares of Climb Bio in a research note on Wednesday, August 19th. BTIG Research lifted their price objective on shares of Climb Bio from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, June 11th. Chardan Capital assumed coverage on shares of Climb Bio in a research note on Tuesday, May 5th. They set a “buy” rating and a $22.00 price objective on the stock. Finally, Truist Financial upped their price objective on shares of Climb Bio from $17.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, August 7th.

Institutional Trading of Climb Bio

Institutional investors have recently made changes to their positions in the stock. Braidwell LP boosted its holdings in shares of Climb Bio by 102.6% in the second quarter. Braidwell LP now owns 3,099,027 shares of the company’s stock valued at $40,411,000 after acquiring an additional 1,569,352 shares in the last quarter. MPM Bioimpact LLC bought a new stake in Climb Bio during the fourth quarter worth approximately $10,686,000. BlackRock Inc. acquired a new stake in Climb Bio in the second quarter worth approximately $30,708,000. Price T Rowe Associates Inc. MD lifted its position in Climb Bio by 265.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,923,639 shares of the company’s stock worth $7,695,000 after purchasing an additional 1,396,722 shares during the period. Finally, ADAR1 Capital Management LLC boosted its stake in Climb Bio by 972.8% during the 4th 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. 69.76% of the stock is owned by institutional investors and hedge funds.

Climb Bio Trading Down 5.8%

NASDAQ CLYM opened at $13.73 on Tuesday. Climb Bio has a 52 week low of $1.54 and a 52 week high of $18.33. The stock has a market cap of $788.65 million, a price-to-earnings ratio of -16.54 and a beta of 0.08. The company has a 50-day moving average price of $13.85 and a two-hundred day moving average price of $10.56.

Climb Bio (NASDAQ:CLYM) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.03. As a group, equities research analysts expect that Climb Bio will post -0.82 earnings per share for the current fiscal year.

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.