Climb Bio, Inc. (NASDAQ:CLYM) Receives $21.73 Consensus Target Price from Brokerages

Shares of Climb Bio, Inc. (NASDAQ:CLYM) have received a consensus rating of “Buy” from the fourteen ratings firms that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, ten have issued a buy recommendation and three have assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $21.7273.

A number of equities research analysts recently issued reports on CLYM shares. Wall Street Zen raised Climb Bio from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Mizuho assumed coverage on Climb Bio in a research report on Wednesday, April 15th. They set an “outperform” rating and a $18.00 target price for the company. Oppenheimer raised their price target on Climb Bio from $10.00 to $18.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 21st. Guggenheim began coverage on Climb Bio in a research note on Monday, June 8th. They issued a “buy” rating and a $35.00 price target for the company. Finally, Chardan Capital started coverage on shares of Climb Bio in a research report on Tuesday, May 5th. They set a “buy” rating and a $22.00 price objective for the company.

Climb Bio Stock Performance

Shares of Climb Bio stock opened at $14.00 on Monday. The firm has a 50-day moving average of $11.67 and a 200-day moving average of $8.11. Climb Bio has a 52-week low of $1.32 and a 52-week high of $14.41. The stock has a market cap of $801.64 million, a PE ratio of -17.95 and a beta of 0.07.

Climb Bio (NASDAQ:CLYM) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.06. Equities research analysts predict that Climb Bio will post -0.87 earnings per share for the current fiscal year.

Institutional Trading of Climb Bio

Several large investors have recently modified their holdings of CLYM. AQR Capital Management LLC acquired a new stake in Climb Bio in the first quarter worth $27,000. Goldman Sachs Group Inc. acquired a new position in shares of Climb Bio during the first quarter valued at about $147,000. Marshall Wace LLP bought a new position in shares of Climb Bio during the 2nd quarter worth about $46,000. Qube Research & Technologies Ltd acquired a new stake in shares of Climb Bio in the 2nd quarter valued at about $43,000. Finally, Jane Street Group LLC bought a new stake in Climb Bio in the 2nd quarter valued at about $184,000. 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.