Climb Bio (NASDAQ:CLYM) Upgraded by Truist Financial to Strong-Buy Rating

Climb Bio (NASDAQ:CLYM) was upgraded by analysts at Truist Financial to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

Several other equities analysts also recently commented on CLYM. Robert W. Baird upped 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, March 6th. Piper Sandler began coverage on Climb Bio in a research report on Friday, February 13th. They set an “overweight” rating for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Climb Bio in a research report on Wednesday, January 21st. Wedbush initiated coverage on Climb Bio in a report on Thursday, March 5th. They issued an “outperform” rating and a $12.00 price target on the stock. Finally, HC Wainwright raised their price target on Climb Bio from $11.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, March 10th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $12.33.

Climb Bio Price Performance

Climb Bio stock opened at $7.12 on Tuesday. Climb Bio has a 52-week low of $1.05 and a 52-week high of $8.04. The company has a market cap of $340.12 million, a P/E ratio of -8.00 and a beta of -0.25. The business has a 50-day simple moving average of $5.71 and a two-hundred day simple moving average of $3.60.

Climb Bio (NASDAQ:CLYM) last announced its quarterly earnings results on Thursday, March 5th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.06). Research analysts anticipate that Climb Bio will post -1.57 EPS for the current fiscal year.

Institutional Trading of Climb Bio

Hedge funds and other institutional investors have recently made changes to their positions in the company. Virtu Financial LLC purchased a new stake in shares of Climb Bio during the 4th quarter valued at approximately $43,000. Blair William & Co. IL purchased a new position in Climb Bio in the fourth quarter worth approximately $44,000. Balyasny Asset Management L.P. acquired a new stake in Climb Bio during the fourth quarter worth $57,000. Vanguard Personalized Indexing Management LLC purchased a new stake in Climb Bio in the third quarter valued at $29,000. Finally, AQR Capital Management LLC purchased a new stake in Climb Bio in the first quarter valued at $27,000. Institutional investors and hedge funds own 69.76% of the company’s stock.

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.