Climb Bio (NASDAQ:CLYM) Announces Quarterly Earnings Results, Misses Expectations By $0.06 EPS

Climb Bio (NASDAQ:CLYM) announced its quarterly earnings data on Thursday. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.06), Zacks reports.

Climb Bio Price Performance

NASDAQ:CLYM traded down $0.20 during trading hours on Friday, reaching $7.19. The company’s stock had a trading volume of 241,212 shares, compared to its average volume of 690,537. The company has a market cap of $490.21 million, a price-to-earnings ratio of -9.46 and a beta of -0.25. Climb Bio has a one year low of $1.05 and a one year high of $7.59. The business’s 50-day moving average is $5.15 and its 200-day moving average is $3.28.

Insider Buying and Selling at Climb Bio

In related news, Director Ra Capital Management, L.P. purchased 101,462 shares of the firm’s stock in a transaction dated Friday, December 12th. The stock was bought at an average price of $2.86 per share, for a total transaction of $290,181.32. Following the purchase, the director owned 3,396,318 shares in the company, valued at $9,713,469.48. The trade was a 3.08% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders bought a total of 321,672 shares of company stock valued at $779,626 over the last ninety days. 0.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Climb Bio

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC lifted its stake in shares of Climb Bio by 149.9% in the fourth quarter. Barclays PLC now owns 61,853 shares of the company’s stock valued at $247,000 after buying an additional 37,100 shares during the period. Hudson Bay Capital Management LP acquired a new position in Climb Bio in the 4th quarter valued at approximately $195,000. Susquehanna International Group LLP lifted its position in shares of Climb Bio by 128.4% in the 3rd quarter. Susquehanna International Group LLP now owns 142,450 shares of the company’s stock worth $286,000 after acquiring an additional 80,092 shares during the period. Prelude Capital Management LLC bought a new stake in shares of Climb Bio in the 3rd quarter worth approximately $82,000. Finally, ADAR1 Capital Management LLC grew its holdings in shares of Climb Bio by 11.9% during the 3rd quarter. ADAR1 Capital Management LLC now owns 133,530 shares of the company’s stock worth $268,000 after purchasing an additional 14,210 shares in the last quarter. 69.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on CLYM shares. Wedbush began coverage on Climb Bio in a report on Thursday. They issued an “outperform” rating and a $12.00 target price on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Climb Bio in a research report on Wednesday, January 21st. HC Wainwright increased their target price on shares of Climb Bio from $9.00 to $11.00 and gave the stock a “buy” rating in a research report on Thursday, December 18th. Robert W. Baird boosted their price target on shares of Climb Bio from $9.00 to $12.00 and gave the company an “outperform” rating in a report on Friday. Finally, Piper Sandler began coverage on Climb Bio in a report on Friday, February 13th. They set an “overweight” rating for the company. Seven research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $10.60.

About Climb Bio

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.