Climb Bio, Inc. (NASDAQ:CLYM) Given Consensus Rating of “Buy” by Brokerages

Shares of Climb Bio, Inc. (NASDAQ:CLYM) have earned an average rating of “Buy” from the fourteen ratings firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, ten have issued a buy recommendation and three have assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $22.00.

Several research analysts recently issued reports on CLYM shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Climb Bio in a research report on Friday, July 17th. Robert W. Baird set a $21.00 price target on Climb Bio in a research report on Wednesday, May 6th. BTIG Research raised their price objective on Climb Bio from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, June 11th. HC Wainwright restated a “buy” rating and set a $20.00 price objective on shares of Climb Bio in a research note on Wednesday, June 24th. Finally, Wedbush lifted their price objective on shares of Climb Bio from $17.00 to $20.00 and gave the stock an “outperform” rating in a report on Monday.

Climb Bio Price Performance

NASDAQ:CLYM opened at $12.17 on Friday. Climb Bio has a one year low of $1.36 and a one year high of $14.41. The company has a market cap of $696.89 million, a PE ratio of -15.60 and a beta of 0.07. The firm has a 50-day moving average of $12.18 and a 200-day moving average of $8.97.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Virtu Financial LLC bought a new stake in Climb Bio in the 4th quarter worth about $43,000. Blair William & Co. IL purchased a new stake in Climb Bio in the 4th quarter valued at about $44,000. Balyasny Asset Management L.P. bought a new position in shares of Climb Bio during the 4th quarter worth approximately $57,000. AQR Capital Management LLC bought a new position in shares of Climb Bio during the 1st quarter worth approximately $27,000. Finally, Hsbc Holdings PLC boosted its stake in shares of Climb Bio by 107.2% in the 4th quarter. Hsbc Holdings PLC now owns 24,744 shares of the company’s stock worth $99,000 after buying an additional 12,800 shares during the last quarter. 69.76% of the stock is currently owned by hedge funds and other institutional investors.

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.