Climb Bio, Inc. (NASDAQ:CLYM) Receives Average Recommendation of “Moderate Buy” from Brokerages

Climb Bio, Inc. (NASDAQ:CLYM) has been assigned an average recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $9.50.

CLYM has been the subject of a number of analyst reports. Wall Street Zen downgraded shares of Climb Bio from a “hold” rating to a “strong sell” rating in a research report on Saturday, November 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Climb Bio in a research note on Wednesday, October 8th. BTIG Research reissued a “buy” rating and set a $8.00 price target on shares of Climb Bio in a report on Thursday, October 16th. HC Wainwright lifted their price objective on Climb Bio from $9.00 to $11.00 and gave the company a “buy” rating in a report on Thursday, December 18th. Finally, William Blair started coverage on Climb Bio in a research report on Thursday, October 16th. They set an “outperform” rating on the stock.

Climb Bio Trading Up 9.8%

Shares of CLYM stock opened at $5.03 on Monday. The company has a market capitalization of $342.95 million, a P/E ratio of -6.62 and a beta of -0.16. The business’s 50 day moving average is $2.87 and its two-hundred day moving average is $2.22. Climb Bio has a twelve month low of $1.05 and a twelve month high of $5.19.

Climb Bio (NASDAQ:CLYM) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.03). As a group, equities analysts predict that Climb Bio will post -1.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Climb Bio news, Director Ra Capital Management, L.P. acquired 213,099 shares of the business’s stock in a transaction on Thursday, December 11th. The stock was purchased at an average price of $2.18 per share, for a total transaction of $464,555.82. Following the completion of the transaction, the director owned 3,294,856 shares of the company’s stock, valued at $7,182,786.08. The trade was a 6.91% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders acquired a total of 321,672 shares of company stock worth $779,626 over the last quarter. Corporate insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Climb Bio

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. AQR Capital Management LLC purchased a new position in shares of Climb Bio in the 1st quarter valued at about $27,000. Vanguard Personalized Indexing Management LLC purchased a new stake in Climb Bio during the third quarter worth about $29,000. Qube Research & Technologies Ltd acquired a new position in Climb Bio during the second quarter worth about $43,000. Marshall Wace LLP purchased a new position in Climb Bio in the second quarter valued at about $46,000. Finally, Prelude Capital Management LLC purchased a new position in Climb Bio in the third quarter valued at about $82,000. 69.76% of the stock is owned by institutional investors and hedge funds.

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.