Climb Bio (NASDAQ:CLYM) Receives “Buy” Rating from HC Wainwright

Climb Bio (NASDAQ:CLYM)‘s stock had its “buy” rating restated by equities research analysts at HC Wainwright in a research report issued to clients and investors on Wednesday, Marketbeat.com reports. They presently have a $20.00 price target on the stock. HC Wainwright’s target price points to a potential upside of 62.60% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. Wall Street Zen raised shares of Climb Bio from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Climb Bio in a report on Monday, April 20th. Mizuho initiated coverage on Climb Bio in a research note on Wednesday, April 15th. They issued an “outperform” rating and a $18.00 price target on the stock. Truist Financial initiated coverage on Climb Bio in a research report on Tuesday, March 17th. They issued a “buy” rating and a $17.00 price objective for the company. Finally, Guggenheim initiated coverage on Climb Bio in a research note on Monday, June 8th. They set a “buy” rating and a $35.00 price objective for the company. Three research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $21.73.

Climb Bio Stock Performance

Shares of NASDAQ:CLYM opened at $12.30 on Wednesday. The firm has a market capitalization of $704.30 million, a PE ratio of -15.77 and a beta of 0.09. Climb Bio has a 52-week low of $1.18 and a 52-week high of $12.58. The firm has a fifty day moving average of $10.57 and a 200 day moving average of $7.21.

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

Institutional Trading of Climb Bio

Several large investors have recently modified their holdings of CLYM. Seven Fleet Capital Management LP increased its holdings in Climb Bio by 71.0% during the 1st quarter. Seven Fleet Capital Management LP now owns 130,654 shares of the company’s stock valued at $895,000 after purchasing an additional 54,254 shares during the period. Bank of America Corp DE raised its holdings in shares of Climb Bio by 945.2% during the first quarter. Bank of America Corp DE now owns 52,921 shares of the company’s stock valued at $363,000 after acquiring an additional 47,858 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Climb Bio by 11.2% during the first quarter. The Manufacturers Life Insurance Company now owns 156,317 shares of the company’s stock valued at $1,071,000 after acquiring an additional 15,700 shares in the last quarter. Dimensional Fund Advisors LP purchased a new stake in Climb Bio in the first quarter worth $715,000. Finally, Hsbc Holdings PLC lifted its stake in Climb Bio by 107.2% in the fourth quarter. Hsbc Holdings PLC now owns 24,744 shares of the company’s stock worth $99,000 after acquiring an additional 12,800 shares during the period. 69.76% of the stock is owned by institutional investors.

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.