Climb Bio’s (CLYM) “Buy” Rating Reaffirmed at BTIG Research

BTIG Research reiterated their buy rating on shares of Climb Bio (NASDAQ:CLYM) in a research report report published on Wednesday,Benzinga reports. BTIG Research currently has a $8.00 price objective on the stock.

A number of other equities research analysts also recently weighed in on CLYM. Piper Sandler began coverage on shares of Climb Bio in a research note on Friday, February 13th. They issued an “overweight” rating on the stock. Truist Financial began coverage on shares of Climb Bio in a research note on Tuesday, March 17th. They issued a “buy” rating and a $17.00 target price on the stock. Raymond James Financial began coverage on shares of Climb Bio in a research note on Tuesday, March 10th. They issued a “strong-buy” rating and a $25.00 target price on the stock. Robert W. Baird raised their target price on shares of Climb Bio from $9.00 to $12.00 and gave the company an “outperform” rating in a research note on Friday, March 6th. Finally, HC Wainwright raised their target price on shares of Climb Bio from $11.00 to $15.00 and gave the company a “buy” rating in a research note on Tuesday, March 10th. Three analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Climb Bio presently has an average rating of “Buy” and a consensus target price of $15.63.

Climb Bio Price Performance

Shares of CLYM opened at $7.10 on Wednesday. The firm’s 50 day simple moving average is $6.38 and its 200 day simple moving average is $4.07. The company has a market capitalization of $339.17 million, a P/E ratio of -7.98 and a beta of -0.21. Climb Bio has a 1-year low of $1.07 and a 1-year high of $8.04.

Climb Bio (NASDAQ:CLYM) last announced its earnings results on Thursday, March 5th. The company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.06). On average, equities analysts anticipate that Climb Bio will post -1.57 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in CLYM. AQR Capital Management LLC purchased a new position in shares of Climb Bio during the first quarter worth approximately $27,000. Goldman Sachs Group Inc. purchased a new position in shares of Climb Bio during the first quarter worth approximately $147,000. Marshall Wace LLP purchased a new position in shares of Climb Bio during the second quarter worth approximately $46,000. Qube Research & Technologies Ltd purchased a new position in shares of Climb Bio during the second quarter worth approximately $43,000. Finally, Diadema Partners LP raised its stake in shares of Climb Bio by 4.8% during the second quarter. Diadema Partners LP now owns 702,135 shares of the company’s stock worth $871,000 after acquiring an additional 32,332 shares in the last quarter. 69.76% of the stock is 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.