Climb Bio (NASDAQ:CLYM) Price Target Raised to $15.00

Climb Bio (NASDAQ:CLYM) had its price objective upped by analysts at HC Wainwright from $11.00 to $15.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s target price would indicate a potential upside of 106.90% from the company’s previous close.

Several other equities research analysts have also recently issued reports on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Climb Bio in a research report on Wednesday, January 21st. Robert W. Baird upped their price target on shares of Climb Bio from $9.00 to $12.00 and gave the company an “outperform” rating in a research report on Friday. Piper Sandler assumed coverage on Climb Bio in a research note on Friday, February 13th. They set an “overweight” rating for the company. Finally, Wedbush assumed coverage on shares of Climb Bio in a research note on Thursday, March 5th. They issued an “outperform” rating and a $12.00 target price for the company. Seven equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $11.40.

Climb Bio Stock Up 1.0%

Shares of NASDAQ CLYM opened at $7.25 on Tuesday. Climb Bio has a 52 week low of $1.05 and a 52 week high of $7.59. The firm has a 50-day simple moving average of $5.25 and a 200-day simple moving average of $3.37. The stock has a market capitalization of $494.31 million, a price-to-earnings ratio of -8.15 and a beta of -0.26.

Climb Bio (NASDAQ:CLYM) last posted its earnings results on Thursday, March 5th. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.06). As a group, equities research analysts expect that Climb Bio will post -1.57 EPS for the current year.

Insider Activity

In other Climb Bio news, Director Ra Capital Management, L.P. acquired 101,462 shares of the company’s stock in a transaction dated Friday, December 12th. The stock was acquired at an average cost of $2.86 per share, with a total value of $290,181.32. Following the purchase, the director directly owned 3,396,318 shares in the company, valued at approximately $9,713,469.48. This trade represents a 3.08% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Insiders have bought a total of 321,672 shares of company stock valued at $779,626 over the last quarter. 3.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Virtu Financial LLC purchased a new stake in shares of Climb Bio during the fourth quarter worth about $43,000. Blair William & Co. IL purchased a new position in shares of Climb Bio during the fourth quarter valued at approximately $44,000. Balyasny Asset Management L.P. purchased a new position in shares of Climb Bio during the fourth quarter valued at approximately $57,000. Vanguard Personalized Indexing Management LLC purchased a new position in shares of Climb Bio during the 3rd quarter worth $29,000. Finally, AQR Capital Management LLC purchased a new position in shares of Climb Bio during the 1st quarter worth $27,000. Institutional investors and hedge funds 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.