Climb Bio (NASDAQ:CLYM) Price Target Raised to $17.00

Climb Bio (NASDAQ:CLYM) had its target price lifted by Wedbush from $15.00 to $17.00 in a research report released on Friday morning, Marketbeat.com reports. They currently have an outperform rating on the stock.

CLYM has been the subject of several other research reports. Truist Financial began coverage on Climb Bio in a research report on Tuesday, March 17th. They issued a “buy” rating and a $17.00 price objective for the company. Mizuho began coverage on Climb Bio in a research note on Wednesday, April 15th. They set an “outperform” rating and a $18.00 target price on the stock. Robert W. Baird set a $21.00 target price on Climb Bio in a research note on Wednesday. HC Wainwright boosted their target price on Climb Bio from $11.00 to $15.00 and gave the company a “buy” rating in a research note on Tuesday, March 10th. Finally, Chardan Capital began coverage on Climb Bio in a research note on Tuesday, May 5th. They set a “buy” rating and a $22.00 target price on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $19.80.

Climb Bio Stock Performance

Shares of CLYM stock opened at $11.37 on Friday. Climb Bio has a fifty-two week low of $1.13 and a fifty-two week high of $12.48. The stock has a 50 day moving average price of $7.90 and a two-hundred day moving average price of $5.08. The company has a market capitalization of $651.05 million, a P/E ratio of -14.58 and a beta of 0.02.

Climb Bio (NASDAQ:CLYM) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.06. As a group, equities analysts predict that Climb Bio will post -1.07 earnings per share for the current year.

Institutional Investors Weigh In On Climb Bio

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Virtu Financial LLC purchased a new stake in Climb Bio in the fourth quarter worth $43,000. Blair William & Co. IL purchased a new stake in Climb Bio in the fourth quarter worth $44,000. Balyasny Asset Management L.P. purchased a new stake in Climb Bio in the fourth quarter worth $57,000. Vanguard Personalized Indexing Management LLC purchased a new stake in Climb Bio in the third quarter worth $29,000. Finally, AQR Capital Management LLC purchased a new stake in Climb Bio in the first quarter worth $27,000. 69.76% of the stock is owned by hedge funds and other institutional investors.

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.