Climb Bio (NASDAQ:CLYM) Upgraded at Truist Financial

Truist Financial upgraded shares of Climb Bio (NASDAQ:CLYM) to a strong-buy rating in a research note published on Tuesday morning,Zacks.com reports.

Several other equities research analysts have also commented on CLYM. HC Wainwright upped their price objective on Climb Bio from $11.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, March 10th. Piper Sandler started coverage on Climb Bio in a report on Friday, February 13th. They set an “overweight” rating for the company. Robert W. Baird upped their price target on Climb Bio from $9.00 to $12.00 and gave the stock an “outperform” rating in a research report on Friday, March 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Climb Bio in a research note on Wednesday, January 21st. Finally, Wedbush started coverage on Climb Bio in a research note on Thursday, March 5th. They set an “outperform” rating and a $12.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $12.33.

Climb Bio Trading Down 2.0%

Shares of NASDAQ CLYM opened at $6.98 on Tuesday. The firm has a 50 day moving average of $5.76 and a 200 day moving average of $3.62. The firm has a market capitalization of $333.43 million, a price-to-earnings ratio of -7.84 and a beta of -0.25. Climb Bio has a 12-month low of $1.05 and a 12-month high of $8.04.

Climb Bio (NASDAQ:CLYM) last released its quarterly earnings results on Thursday, March 5th. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.06). Sell-side analysts predict that Climb Bio will post -1.57 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Virtu Financial LLC bought a new stake in Climb Bio during the fourth quarter valued at about $43,000. Blair William & Co. IL bought a new position in shares of Climb Bio in the fourth quarter worth about $44,000. Balyasny Asset Management L.P. purchased a new stake in shares of Climb Bio during the fourth quarter worth about $57,000. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Climb Bio during the third quarter worth about $29,000. Finally, AQR Capital Management LLC bought a new stake in Climb Bio during the 1st quarter valued at approximately $27,000. Institutional investors 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.