Climb Bio (NASDAQ:CLYM) Given “Outperform” Rating at Wedbush

Wedbush reiterated their outperform rating on shares of Climb Bio (NASDAQ:CLYM) in a research note published on Friday morning,Benzinga reports. Wedbush currently has a $17.00 target price on the stock.

Other analysts have also recently issued research reports about the stock. B. Riley Financial assumed coverage on shares of Climb Bio in a research report on Tuesday, March 24th. They set a “buy” rating and a $26.00 price target on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Climb Bio in a report on Monday, April 20th. Oppenheimer increased their price objective on shares of Climb Bio from $10.00 to $18.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 21st. Piper Sandler started coverage on shares of Climb Bio in a research report on Friday, February 13th. They set an “overweight” rating on the stock. Finally, HC Wainwright raised their price target on shares of Climb Bio from $15.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Three research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $21.73.

Climb Bio Stock Performance

NASDAQ:CLYM opened at $11.44 on Friday. The stock’s 50-day simple moving average is $9.96 and its 200 day simple moving average is $6.70. The company has a market cap of $655.05 million, a P/E ratio of -14.67 and a beta of 0.09. Climb Bio has a 52-week low of $1.16 and a 52-week high of $12.48.

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

Hedge Funds Weigh In On Climb Bio

Hedge funds and other institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC bought a new position in Climb Bio during the first quarter valued at approximately $27,000. Qube Research & Technologies Ltd purchased a new position in shares of Climb Bio in the 2nd quarter worth approximately $43,000. Virtu Financial LLC purchased a new stake in Climb Bio during the 4th quarter worth approximately $43,000. Blair William & Co. IL purchased a new stake in Climb Bio during the 4th quarter worth approximately $44,000. Finally, Marshall Wace LLP purchased a new stake in shares of Climb Bio in the 2nd quarter valued at $46,000. Hedge funds and other 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.