Climb Bio, Inc. (NASDAQ:CLYM) Receives Average Rating of “Buy” from Brokerages

Climb Bio, Inc. (NASDAQ:CLYM) has been assigned an average recommendation of “Buy” from the fourteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, ten have assigned a buy recommendation and three have given a strong buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $21.7273.

Several equities research analysts recently weighed in on the stock. Mizuho assumed coverage on shares of Climb Bio in a report on Wednesday, April 15th. They issued an “outperform” rating and a $18.00 price objective for the company. Wedbush restated an “outperform” rating and set a $17.00 price target on shares of Climb Bio in a research report on Friday, June 12th. Raymond James Financial began coverage on shares of Climb Bio in a research note on Tuesday, March 10th. They issued a “strong-buy” rating and a $25.00 price target for the company. Robert W. Baird set a $21.00 price objective on shares of Climb Bio in a report on Wednesday, May 6th. Finally, BTIG Research increased their price objective on shares of Climb Bio from $19.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, June 11th.

Hedge Funds Weigh In On Climb Bio

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC acquired a new position in shares of Climb Bio during the 1st quarter valued at $27,000. Goldman Sachs Group Inc. bought a new position in Climb Bio during the first quarter valued at about $147,000. Marshall Wace LLP bought a new position in Climb Bio during the second quarter valued at about $46,000. Qube Research & Technologies Ltd acquired a new position in Climb Bio during the second quarter worth about $43,000. Finally, Jane Street Group LLC acquired a new position in Climb Bio during the second quarter worth about $184,000. 69.76% of the stock is owned by institutional investors.

Climb Bio Price Performance

Shares of Climb Bio stock opened at $12.90 on Monday. Climb Bio has a 1-year low of $1.21 and a 1-year high of $13.69. The business’s fifty day moving average price is $11.22 and its two-hundred day moving average price is $7.82. The company has a market capitalization of $738.65 million, a P/E ratio of -16.54 and a beta of 0.07.

Climb Bio (NASDAQ:CLYM) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.06. On average, research analysts expect that Climb Bio will post -0.87 earnings per share for the current fiscal year.

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.