Analysts Set Climb Bio, Inc. (NASDAQ:CLYM) Target Price at $9.00

Shares of Climb Bio, Inc. (NASDAQ:CLYM) have been assigned an average recommendation of “Buy” from the six research firms that are currently covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $9.00.

Several brokerages have commented on CLYM. Baird R W upgraded shares of Climb Bio to a “strong-buy” rating in a report on Friday. Robert W. Baird began coverage on shares of Climb Bio in a report on Friday. They issued an “outperform” rating and a $9.00 price objective for the company. BTIG Research began coverage on shares of Climb Bio in a report on Thursday, May 22nd. They issued a “buy” rating for the company. Finally, Oppenheimer began coverage on shares of Climb Bio in a report on Friday, June 6th. They issued an “outperform” rating and a $10.00 price objective for the company.

Institutional Inflows and Outflows

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

Climb Bio Stock Performance

Shares of Climb Bio stock opened at $1.90 on Friday. Climb Bio has a 52-week low of $1.05 and a 52-week high of $8.79. The stock has a market capitalization of $128.74 million, a price-to-earnings ratio of -2.71 and a beta of -0.11. The company has a fifty day moving average of $1.41 and a 200-day moving average of $1.36.

Climb Bio (NASDAQ:CLYM) last posted its quarterly earnings results on Tuesday, August 12th. The company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.06. On average, equities research analysts forecast that Climb Bio will post -1.57 earnings per share for the current fiscal year.

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.