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

Shares of Climb Bio, Inc. (NASDAQ:CLYM) have been given an average recommendation of “Buy” by the fourteen analysts that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, ten have given a buy recommendation and three have assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $21.6364.

CLYM has been the subject of several recent analyst reports. Mizuho initiated coverage on Climb Bio in a research report on Wednesday, April 15th. They issued an “outperform” rating and a $18.00 price target for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Climb Bio in a research report on Monday, April 20th. Oppenheimer lifted their price target on Climb Bio from $10.00 to $18.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 21st. Wedbush boosted their price objective on shares of Climb Bio from $15.00 to $17.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Finally, Piper Sandler initiated coverage on shares of Climb Bio in a report on Friday, February 13th. They issued an “overweight” rating for the company.

Hedge Funds Weigh In On Climb Bio

A number of hedge funds have recently added to or reduced their stakes in CLYM. MPM Bioimpact LLC purchased a new position in Climb Bio in the 4th quarter worth approximately $10,686,000. Price T Rowe Associates Inc. MD raised its holdings in Climb Bio by 265.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,923,639 shares of the company’s stock worth $7,695,000 after acquiring an additional 1,396,722 shares during the last quarter. ADAR1 Capital Management LLC raised its holdings in Climb Bio by 972.8% in the 4th quarter. ADAR1 Capital Management LLC now owns 1,432,475 shares of the company’s stock worth $5,730,000 after acquiring an additional 1,298,945 shares during the last quarter. Sphera Funds Management LTD. raised its holdings in Climb Bio by 114.4% in the 4th quarter. Sphera Funds Management LTD. now owns 932,247 shares of the company’s stock worth $3,729,000 after acquiring an additional 497,410 shares during the last quarter. Finally, Kotler Kevin purchased a new position in Climb Bio in the 4th quarter worth approximately $1,600,000. 69.76% of the stock is currently owned by hedge funds and other institutional investors.

Climb Bio Trading Down 3.1%

Shares of NASDAQ:CLYM opened at $10.80 on Thursday. The stock has a fifty day simple moving average of $9.79 and a two-hundred day simple moving average of $6.60. The stock has a market capitalization of $618.41 million, a price-to-earnings ratio of -13.85 and a beta of 0.09. Climb Bio has a 12-month low of $1.16 and a 12-month high of $12.48.

Climb Bio (NASDAQ:CLYM) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.06. As a group, equities research analysts predict that Climb Bio will post -0.87 EPS for the current year.

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.