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

Mizuho upgraded shares of Climb Bio (NASDAQ:CLYM) to a strong-buy rating in a report issued on Monday morning,Zacks reports.

Several other research firms also recently weighed in on CLYM. Guggenheim assumed coverage on shares of Climb Bio in a report on Monday, June 8th. They set a “buy” rating and a $35.00 price objective on the stock. Piper Sandler set a $40.00 price objective on shares of Climb Bio and gave the company an “overweight” rating in a report on Thursday, September 3rd. B Riley reiterated a “buy” rating on shares of Climb Bio in a report on Friday. Oppenheimer boosted their target price on shares of Climb Bio from $18.00 to $25.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, Truist Financial upped their target price on shares of Climb Bio from $17.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $26.92.

Climb Bio Stock Up 2.4%

NASDAQ CLYM opened at $15.90 on Monday. The company has a market cap of $913.23 million, a price-to-earnings ratio of -19.16 and a beta of 0.09. Climb Bio has a 52 week low of $1.54 and a 52 week high of $18.33. The business has a 50 day moving average price of $14.14 and a 200-day moving average price of $10.96.

Climb Bio (NASDAQ:CLYM) last issued its earnings results on Thursday, August 6th. The company reported ($0.18) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.03. On average, equities research analysts anticipate that Climb Bio will post -0.78 earnings per share for the current year.

Institutional Trading of Climb Bio

A number of institutional investors and hedge funds have recently modified their holdings of the business. Braidwell LP boosted its position in Climb Bio by 102.6% in the second quarter. Braidwell LP now owns 3,099,027 shares of the company’s stock worth $40,411,000 after purchasing an additional 1,569,352 shares during the last quarter. MPM Bioimpact LLC bought a new position in Climb Bio in the 4th quarter valued at $10,686,000. BlackRock Inc. purchased a new stake in shares of Climb Bio during the 2nd quarter valued at $30,708,000. Price T Rowe Associates Inc. MD increased its position in shares of 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 last quarter. Finally, ADAR1 Capital Management LLC raised its stake in shares of Climb Bio by 972.8% during the 4th quarter. ADAR1 Capital Management LLC now owns 1,432,475 shares of the company’s stock worth $5,730,000 after purchasing an additional 1,298,945 shares during the period. 69.76% of the stock is owned by hedge funds and other 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.