Climb Bio (NASDAQ:CLYM) Coverage Initiated at Mizuho

Investment analysts at Mizuho began coverage on shares of Climb Bio (NASDAQ:CLYM) in a report issued on Wednesday, Marketbeat reports. The brokerage set an “outperform” rating and a $18.00 price target on the stock. Mizuho’s price target points to a potential upside of 104.08% from the company’s current price.

Several other research analysts have also issued reports on CLYM. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Climb Bio in a research report on Wednesday, January 21st. HC Wainwright lifted their price objective on Climb Bio from $11.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, March 10th. Piper Sandler assumed coverage on Climb Bio in a research report on Friday, February 13th. They issued an “overweight” rating for the company. Truist Financial assumed coverage on Climb Bio in a research report on Tuesday, March 17th. They issued a “buy” rating and a $17.00 price objective for the company. Finally, Robert W. Baird lifted their price objective on Climb Bio from $9.00 to $12.00 and gave the stock an “outperform” rating in a research report on Friday, March 6th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $15.89.

Climb Bio Stock Up 2.0%

Shares of NASDAQ:CLYM opened at $8.82 on Wednesday. The firm has a market cap of $421.33 million, a P/E ratio of -9.91 and a beta of -0.21. Climb Bio has a 12-month low of $1.13 and a 12-month high of $9.25. The business has a fifty day simple moving average of $6.83 and a 200 day simple moving average of $4.32.

Climb Bio (NASDAQ:CLYM) last announced its earnings results on Thursday, March 5th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.06). As a group, equities research analysts expect that Climb Bio will post -1.57 EPS for the current year.

Institutional Trading of Climb Bio

Several large investors have recently made changes to their positions in the company. Hsbc Holdings PLC grew its stake in shares of Climb Bio by 107.2% in the 4th quarter. Hsbc Holdings PLC now owns 24,744 shares of the company’s stock valued at $99,000 after buying an additional 12,800 shares during the period. Seven Fleet Capital Management LP acquired a new stake in shares of Climb Bio in the 4th quarter valued at about $306,000. Virtu Financial LLC acquired a new stake in shares of Climb Bio in the 4th quarter valued at about $43,000. XTX Topco Ltd grew its stake in shares of Climb Bio by 19.4% in the 4th quarter. XTX Topco Ltd now owns 34,852 shares of the company’s stock valued at $139,000 after buying an additional 5,668 shares during the period. Finally, Squadron Capital Management LLC acquired a new position in Climb Bio during the 4th quarter valued at about $400,000. 69.76% of the stock is currently owned by institutional investors and hedge funds.

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.