Climb Bio, Inc. (NASDAQ:CLYM) Receives $9.50 Consensus PT from Brokerages

Shares of Climb Bio, Inc. (NASDAQ:CLYM) have been given an average recommendation of “Moderate Buy” by the seven analysts that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, five have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $9.50.

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

Climb Bio Stock Up 11.9%

Shares of NASDAQ:CLYM opened at $4.22 on Monday. The firm has a fifty day moving average of $3.10 and a two-hundred day moving average of $2.32. Climb Bio has a 12-month low of $1.05 and a 12-month high of $5.19. The firm has a market capitalization of $287.72 million, a P/E ratio of -5.55 and a beta of -0.16.

Climb Bio (NASDAQ:CLYM) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.03). Equities research analysts expect that Climb Bio will post -1.57 earnings per share for the current fiscal year.

Insider Buying and Selling at Climb Bio

In related news, Director Ra Capital Management, L.P. purchased 101,462 shares of the firm’s stock in a transaction dated Friday, December 12th. The stock was bought at an average price of $2.86 per share, for a total transaction of $290,181.32. Following the purchase, the director owned 3,396,318 shares in the company, valued at $9,713,469.48. The trade was a 3.08% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders bought a total of 321,672 shares of company stock valued at $779,626 over the last ninety days. 0.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Climb Bio

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Peapod Lane Capital LLC grew its holdings in Climb Bio by 1.1% during the third quarter. Peapod Lane Capital LLC now owns 561,866 shares of the company’s stock valued at $1,129,000 after purchasing an additional 6,199 shares during the last quarter. ADAR1 Capital Management LLC grew its stake in Climb Bio by 11.9% in the 3rd quarter. ADAR1 Capital Management LLC now owns 133,530 shares of the company’s stock valued at $268,000 after buying an additional 14,210 shares during the last quarter. Vanguard Personalized Indexing Management LLC bought a new position in Climb Bio in the 3rd quarter worth $29,000. AQR Capital Management LLC bought a new position in Climb Bio in the 1st quarter worth $27,000. Finally, UBS Group AG lifted its position in Climb Bio by 6.0% during the 3rd quarter. UBS Group AG now owns 405,404 shares of the company’s stock worth $815,000 after acquiring an additional 22,922 shares during the last quarter. 69.76% of the stock is currently 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.