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

Climb Bio, Inc. (NASDAQ:CLYM) has been given a consensus rating of “Buy” by the thirteen brokerages that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, nine have issued a buy rating and three have issued a strong buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $20.30.

A number of analysts recently weighed in on the stock. Mizuho assumed coverage on shares of Climb Bio in a research note on Wednesday, April 15th. They set an “outperform” rating and a $18.00 target price on the stock. HC Wainwright increased their price target on shares of Climb Bio from $15.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Wedbush increased their price target on shares of Climb Bio from $15.00 to $17.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Chardan Capital started coverage on shares of Climb Bio in a research note on Tuesday, May 5th. They issued a “buy” rating and a $22.00 price target on the stock. Finally, Oppenheimer increased their price target on shares of Climb Bio from $10.00 to $18.00 and gave the company an “outperform” rating in a research note on Tuesday, April 21st.

Climb Bio Stock Performance

CLYM stock opened at $10.91 on Friday. The company’s 50 day moving average price is $8.62 and its 200 day moving average price is $5.69. Climb Bio has a fifty-two week low of $1.16 and a fifty-two week high of $12.48. The firm has a market capitalization of $624.71 million, a price-to-earnings ratio of -13.99 and a beta of 0.02.

Climb Bio (NASDAQ:CLYM) last released its earnings results on Thursday, May 7th. The company reported ($0.20) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.06. Equities analysts forecast that Climb Bio will post -0.89 EPS for the current fiscal year.

Hedge Funds Weigh In On Climb Bio

Several hedge funds have recently added to or reduced their stakes in CLYM. AQR Capital Management LLC purchased a new position in Climb Bio in the first quarter valued at approximately $27,000. Goldman Sachs Group Inc. purchased a new position in Climb Bio in the first quarter valued at approximately $147,000. Marshall Wace LLP purchased a new position in Climb Bio in the second quarter valued at approximately $46,000. Qube Research & Technologies Ltd purchased a new position in Climb Bio in the second quarter valued at approximately $43,000. Finally, Jane Street Group LLC purchased a new position in Climb Bio in the second quarter valued at approximately $184,000. 69.76% of the stock is currently owned by hedge funds and other institutional investors.

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.