Climb Bio (NASDAQ:CLYM) Stock Rating Upgraded by B. Riley Financial

Climb Bio (NASDAQ:CLYM) was upgraded by equities research analysts at B. Riley Financial to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other equities analysts have also recently commented on CLYM. Truist Financial started coverage on shares of Climb Bio in a research report on Tuesday, March 17th. They set a “buy” rating and a $17.00 price target on the stock. Piper Sandler began coverage on Climb Bio in a research note on Friday, February 13th. They set an “overweight” rating on the stock. Raymond James Financial started coverage on Climb Bio in a report on Tuesday, March 10th. They set a “strong-buy” rating and a $25.00 target price on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Climb Bio in a research report on Wednesday, January 21st. Finally, Wedbush started coverage on Climb Bio in a report on Thursday, March 5th. They issued an “outperform” rating and a $12.00 price target for the company. Three 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $15.63.

Climb Bio Price Performance

NASDAQ CLYM opened at $6.98 on Monday. Climb Bio has a 12 month low of $1.05 and a 12 month high of $8.04. The company has a market capitalization of $333.43 million, a price-to-earnings ratio of -7.84 and a beta of -0.25. The company’s fifty day moving average price is $5.93 and its two-hundred day moving average price is $3.75.

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

Hedge Funds Weigh In On Climb Bio

Several hedge funds and other institutional investors have recently modified their holdings of the company. MPM Bioimpact LLC bought a new position in shares of Climb Bio during the fourth quarter worth about $10,686,000. Price T Rowe Associates Inc. MD boosted its stake in Climb Bio by 265.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,923,639 shares of the company’s stock valued at $7,695,000 after purchasing an additional 1,396,722 shares during the period. ADAR1 Capital Management LLC boosted its stake in Climb Bio by 972.8% during the 4th quarter. ADAR1 Capital Management LLC now owns 1,432,475 shares of the company’s stock valued at $5,730,000 after purchasing an additional 1,298,945 shares during the period. Sphera Funds Management LTD. grew its position in Climb Bio by 114.4% in the 4th 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 during the last quarter. Finally, Kotler Kevin acquired a new stake in shares of Climb Bio in the fourth quarter valued at approximately $1,600,000. Institutional investors and hedge funds 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.