Wellington Management Group LLP Purchases Shares of 96,807 Climb Bio, Inc. $CLYM

Wellington Management Group LLP purchased a new stake in shares of Climb Bio, Inc. (NASDAQ:CLYM) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 96,807 shares of the company’s stock, valued at approximately $1,262,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of CLYM. Dimensional Fund Advisors LP acquired a new stake in shares of Climb Bio in the first quarter valued at $715,000. Seven Fleet Capital Management LP acquired a new position in Climb Bio during the fourth quarter worth about $306,000. BlackRock Inc. bought a new stake in Climb Bio in the second quarter worth about $30,708,000. ArchPoint Investors bought a new stake in Climb Bio in the fourth quarter worth about $486,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in Climb Bio in the 2nd quarter valued at about $2,148,000. Institutional investors own 69.76% of the company’s stock.

Climb Bio Stock Down 4.7%

NASDAQ:CLYM opened at $14.25 on Friday. The stock has a fifty day simple moving average of $14.24 and a 200 day simple moving average of $11.12. The firm has a market capitalization of $818.46 million, a price-to-earnings ratio of -17.17 and a beta of 0.09. Climb Bio, Inc. has a 1-year low of $1.54 and a 1-year high of $18.33.

Climb Bio (NASDAQ:CLYM) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.03. Equities analysts predict that Climb Bio, Inc. will post -0.78 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CLYM. Weiss Ratings restated a “sell (d-)” rating on shares of Climb Bio in a research report on Friday, July 17th. Mizuho raised shares of Climb Bio to a “strong-buy” rating in a research note on Monday, September 7th. Truist Financial raised their target price on shares of Climb Bio from $17.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Royal Bank Of Canada initiated coverage on shares of Climb Bio in a research report on Monday, August 3rd. They issued an “outperform” rating and a $23.00 price target on the stock. Finally, Oppenheimer upped their price target on Climb Bio from $18.00 to $25.00 and gave the company an “outperform” rating in a report on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $26.92.

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.