Climb Bio (NASDAQ:CLYM) Releases Earnings Results

Climb Bio (NASDAQ:CLYM) issued its quarterly earnings data on Thursday. The company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.06), Zacks reports.

Climb Bio Price Performance

NASDAQ CLYM traded down $0.20 during trading hours on Friday, hitting $7.19. 267,895 shares of the company’s stock traded hands, compared to its average volume of 691,072. The company has a market capitalization of $490.21 million, a PE ratio of -9.46 and a beta of -0.25. Climb Bio has a 52-week low of $1.05 and a 52-week high of $7.59. The firm’s 50-day moving average is $5.15 and its 200-day moving average is $3.28.

Analyst Ratings Changes

Several research analysts have recently weighed in on CLYM shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Climb Bio in a research note on Wednesday, January 21st. Piper Sandler assumed coverage on shares of Climb Bio in a research report on Friday, February 13th. They set an “overweight” rating for the company. Robert W. Baird lifted their price objective on Climb Bio from $9.00 to $12.00 and gave the stock an “outperform” rating in a report on Friday. Wall Street Zen lowered Climb Bio from a “hold” rating to a “strong sell” rating in a research note on Saturday, November 8th. Finally, HC Wainwright increased their target price on Climb Bio from $9.00 to $11.00 and gave the company a “buy” rating in a report on Thursday, December 18th. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $10.60.

Insider Activity

In related news, Director Ra Capital Management, L.P. acquired 101,462 shares of Climb Bio stock in a transaction that occurred on Friday, December 12th. The shares were purchased at an average price of $2.86 per share, for a total transaction of $290,181.32. Following the completion of the transaction, the director owned 3,396,318 shares in the company, valued at $9,713,469.48. This represents a 3.08% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders purchased 321,672 shares of company stock valued at $779,626 in the last ninety days. 0.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Climb Bio

A number of hedge funds have recently modified their holdings of the business. MPM Bioimpact LLC acquired a new stake in shares of Climb Bio during the fourth quarter valued at about $10,686,000. Price T Rowe Associates Inc. MD boosted its position in shares of Climb Bio by 265.1% during 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 purchasing an additional 1,396,722 shares during the period. ADAR1 Capital Management LLC increased 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 valued at $5,730,000 after purchasing an additional 1,298,945 shares during the last quarter. Sphera Funds Management LTD. raised its position in Climb Bio by 114.4% in the fourth quarter. Sphera Funds Management LTD. now owns 932,247 shares of the company’s stock valued at $3,729,000 after purchasing an additional 497,410 shares during the period. Finally, Kotler Kevin acquired a new position in Climb Bio during the fourth quarter worth $1,600,000. 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.