Climb Bio (NASDAQ:CLYM) Issues Earnings Results, Beats Estimates By $0.06 EPS

Climb Bio (NASDAQ:CLYM) released its quarterly earnings data on Thursday. The company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.06, FiscalAI reports.

Climb Bio Stock Down 4.5%

CLYM traded down $0.54 during midday trading on Friday, hitting $11.37. The company had a trading volume of 1,139,064 shares, compared to its average volume of 953,669. Climb Bio has a 52 week low of $1.13 and a 52 week high of $12.48. The company has a market capitalization of $543.14 million, a price-to-earnings ratio of -14.58 and a beta of 0.02. The stock’s 50 day moving average price is $7.90 and its 200 day moving average price is $5.08.

Institutional Investors Weigh In On Climb Bio

Hedge funds and other institutional investors have recently made changes to their positions in the business. Virtu Financial LLC purchased a new position in Climb Bio during the fourth quarter worth about $43,000. Blair William & Co. IL purchased a new stake in shares of Climb Bio during the 4th quarter valued at approximately $44,000. Balyasny Asset Management L.P. bought a new stake in Climb Bio during the 4th quarter worth approximately $57,000. AQR Capital Management LLC bought a new stake in Climb Bio during the 1st quarter worth approximately $27,000. Finally, Hsbc Holdings PLC increased its holdings in shares of Climb Bio by 107.2% in the 4th quarter. Hsbc Holdings PLC now owns 24,744 shares of the company’s stock worth $99,000 after buying an additional 12,800 shares during the last quarter. 69.76% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CLYM has been the topic of a number of recent research reports. BTIG Research lifted their price target on shares of Climb Bio from $8.00 to $19.00 and gave the stock a “buy” rating in a report on Wednesday. Chardan Capital initiated coverage on shares of Climb Bio in a report on Tuesday. They set a “buy” rating and a $22.00 price target on the stock. Raymond James Financial initiated coverage on shares of Climb Bio in a report on Tuesday, March 10th. They set a “strong-buy” rating and a $25.00 price target on the stock. Mizuho initiated coverage on shares of Climb Bio in a report on Wednesday, April 15th. They set an “outperform” rating and a $18.00 price target on the stock. Finally, Truist Financial initiated coverage on shares of Climb Bio in a report on Tuesday, March 17th. They set a “buy” rating and a $17.00 price target on the stock. Three investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $19.80.

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.