Robert W. Baird Initiates Coverage on Climb Bio (NASDAQ:CLYM)

Equities research analysts at Robert W. Baird assumed coverage on shares of Climb Bio (NASDAQ:CLYM) in a report released on Friday, Marketbeat reports. The firm set an “outperform” rating and a $9.00 price target on the stock. Robert W. Baird’s price target suggests a potential upside of 373.68% from the company’s current price.

Several other equities analysts have also recently weighed in on CLYM. Oppenheimer initiated coverage on Climb Bio in a report on Friday, June 6th. They issued an “outperform” rating and a $10.00 price objective for the company. BTIG Research began coverage on Climb Bio in a research report on Thursday, May 22nd. They set a “buy” rating for the company. Four investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $9.00.

Climb Bio Stock Up 10.5%

NASDAQ CLYM opened at $1.90 on Friday. The firm’s 50 day moving average is $1.41 and its 200-day moving average is $1.37. The company has a market capitalization of $128.75 million, a PE ratio of -2.71 and a beta of -0.11. Climb Bio has a 12-month low of $1.05 and a 12-month high of $8.79.

Climb Bio (NASDAQ:CLYM) last released its earnings results on Tuesday, August 12th. The company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.06. As a group, sell-side analysts expect that Climb Bio will post -1.57 EPS for the current year.

Institutional Investors Weigh In On Climb Bio

A number of institutional investors and hedge funds have recently modified their holdings of the company. RA Capital Management L.P. acquired a new position in Climb Bio during the first quarter worth approximately $38,332,000. Affinity Asset Advisors LLC acquired a new stake in shares of Climb Bio in the first quarter valued at approximately $1,830,000. Peapod Lane Capital LLC bought a new position in shares of Climb Bio during the 1st quarter worth approximately $676,000. Nan Fung Trinity HK Ltd. bought a new position in shares of Climb Bio during the 2nd quarter worth approximately $575,000. Finally, Allostery Investments LP acquired a new position in shares of Climb Bio during the 1st quarter worth approximately $299,000. 69.76% of the stock is owned by institutional investors.

About Climb Bio

Climb Bio Inc is a clinical-stage biotechnology company developing therapeutics for patients with immune-mediated diseases. The Company’s lead product candidate, budoprutug, is an anti-CD19 monoclonal antibody which has demonstrated B-cell depletion and has potential to treat a broad range of B-cell mediated diseases.