Climb Bio (NASDAQ:CLYM) Price Target Raised to $20.00 at Wedbush

Climb Bio (NASDAQ:CLYM) had its target price hoisted by Wedbush from $17.00 to $20.00 in a research note published on Monday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other brokerages have also recently weighed in on CLYM. Guggenheim initiated coverage on shares of Climb Bio in a report on Monday, June 8th. They issued a “buy” rating and a $35.00 price objective for the company. Mizuho assumed coverage on shares of Climb Bio in a report on Wednesday, April 15th. They set an “outperform” rating and a $18.00 target price on the stock. Oppenheimer raised their price target on shares of Climb Bio from $10.00 to $18.00 and gave the company an “outperform” rating in a research report on Tuesday, April 21st. Weiss Ratings restated a “sell (d-)” rating on shares of Climb Bio in a research note on Friday, July 17th. Finally, Robert W. Baird set a $21.00 price objective on Climb Bio in a research report on Wednesday, May 6th. Three analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Climb Bio currently has a consensus rating of “Buy” and an average price target of $22.00.

Climb Bio Trading Down 0.4%

CLYM opened at $12.79 on Monday. The stock’s 50-day moving average price is $12.07 and its 200 day moving average price is $8.81. Climb Bio has a 12-month low of $1.36 and a 12-month high of $14.42. The firm has a market cap of $732.39 million, a price-to-earnings ratio of -16.40 and a beta of 0.07.

Climb Bio (NASDAQ:CLYM) last released its earnings results on Thursday, May 7th. The company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.06. On average, research analysts forecast that Climb Bio will post -0.87 earnings per share for the current year.

Institutional Trading of Climb Bio

Several hedge funds have recently added to or reduced their stakes in CLYM. AQR Capital Management LLC acquired a new position in Climb Bio during the 1st quarter worth approximately $27,000. Qube Research & Technologies Ltd acquired a new stake in shares of Climb Bio in the 2nd quarter valued at $43,000. Virtu Financial LLC acquired a new stake in shares of Climb Bio in the 4th quarter valued at $43,000. Blair William & Co. IL purchased a new stake in shares of Climb Bio during the 4th quarter worth $44,000. Finally, Marshall Wace LLP purchased a new stake in shares of Climb Bio during the 2nd quarter worth $46,000. Institutional investors and hedge funds own 69.76% of the company’s stock.

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.