Climb Bio, Inc. (NASDAQ:CLYM) Receives Consensus Recommendation of “Buy” from Brokerages
by Doug Wharley · The Cerbat GemClimb Bio, Inc. (NASDAQ:CLYM – Get Free Report) has been assigned an average recommendation of “Buy” from the twelve research firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, eight have issued a buy recommendation and three have given a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $16.7778.
A number of analysts have recently issued reports on CLYM shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Climb Bio in a research report on Monday, April 20th. Wedbush started coverage on shares of Climb Bio in a research report on Thursday, March 5th. They issued an “outperform” rating and a $12.00 price target for the company. Raymond James Financial started coverage on shares of Climb Bio in a research report on Tuesday, March 10th. They issued a “strong-buy” rating and a $25.00 price target for the company. B. Riley Financial started coverage on shares of Climb Bio in a research report on Tuesday, March 24th. They issued a “buy” rating and a $26.00 price target for the company. Finally, HC Wainwright increased their price target on shares of Climb Bio from $11.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, March 10th.
Read Our Latest Stock Analysis on CLYM
Institutional Trading of Climb Bio
A number of hedge funds have recently made changes to their positions in CLYM. MPM Bioimpact LLC purchased a new stake in shares of Climb Bio in the fourth quarter worth approximately $10,686,000. Price T Rowe Associates Inc. MD lifted its position in shares of Climb Bio by 265.1% in the fourth 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 in the last quarter. ADAR1 Capital Management LLC lifted its position in shares of Climb Bio by 972.8% in the fourth quarter. ADAR1 Capital Management LLC now owns 1,432,475 shares of the company’s stock worth $5,730,000 after purchasing an additional 1,298,945 shares in the last quarter. Sphera Funds Management LTD. lifted its position in shares of Climb Bio by 114.4% in the fourth quarter. Sphera Funds Management LTD. now owns 932,247 shares of the company’s stock worth $3,729,000 after purchasing an additional 497,410 shares in the last quarter. Finally, Kotler Kevin purchased a new stake in shares of Climb Bio in the fourth quarter worth approximately $1,600,000. 69.76% of the stock is owned by hedge funds and other institutional investors.
Climb Bio Stock Performance
CLYM stock opened at $9.14 on Wednesday. Climb Bio has a one year low of $1.13 and a one year high of $10.00. The firm has a market capitalization of $436.62 million, a PE ratio of -10.27 and a beta of -0.21. The firm has a 50-day moving average of $7.27 and a two-hundred day moving average of $4.66.
Climb Bio (NASDAQ:CLYM – Get Free Report) last posted its quarterly earnings data on Thursday, March 5th. The company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.06). On average, equities research analysts anticipate that Climb Bio will post -1.11 earnings per share for the current 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.