BTIG Research Raises Climb Bio (NASDAQ:CLYM) Price Target to $32.00

Climb Bio (NASDAQ:CLYM) had its price target lifted by equities research analysts at BTIG Research from $20.00 to $32.00 in a report issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. BTIG Research’s target price points to a potential upside of 119.15% from the company’s previous close.

A number of other equities analysts also recently weighed in on CLYM. Robert W. Baird set a $21.00 target price on shares of Climb Bio in a research note on Wednesday, May 6th. Truist Financial boosted their price objective on shares of Climb Bio from $17.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Piper Sandler set a $40.00 price objective on Climb Bio and gave the stock an “overweight” rating in a report on Thursday. Wedbush reiterated an “outperform” rating and issued a $20.00 price objective on shares of Climb Bio in a research report on Wednesday, August 19th. Finally, Guggenheim began coverage on Climb Bio in a research report on Monday, June 8th. They set a “buy” rating and a $35.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $25.62.

Climb Bio Stock Performance

Climb Bio stock traded down $0.45 during trading hours on Thursday, hitting $14.60. 4,372,141 shares of the stock were exchanged, compared to its average volume of 983,717. The stock has a market capitalization of $838.74 million, a P/E ratio of -17.51 and a beta of 0.09. The business’s 50-day moving average is $13.95 and its two-hundred day moving average is $10.69. Climb Bio has a 12 month low of $1.54 and a 12 month high of $18.33.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CLYM. Braidwell LP increased its holdings in Climb Bio by 102.6% during the 2nd quarter. Braidwell LP now owns 3,099,027 shares of the company’s stock worth $40,411,000 after purchasing an additional 1,569,352 shares in the last quarter. MPM Bioimpact LLC bought a new stake in shares of Climb Bio in the fourth quarter valued at about $10,686,000. BlackRock Inc. acquired a new position in shares of Climb Bio during the second quarter worth about $30,708,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Climb Bio by 265.1% during 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 buying an additional 1,396,722 shares in the last quarter. Finally, ADAR1 Capital Management LLC raised its position 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 valued at $5,730,000 after buying an additional 1,298,945 shares during the last quarter. Institutional investors 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.