Climb Bio’s (CLYM) Outperform Rating Reaffirmed at Wedbush

Climb Bio (NASDAQ:CLYM)‘s stock had its “outperform” rating reaffirmed by research analysts at Wedbush in a note issued to investors on Wednesday,Benzinga reports. They currently have a $20.00 target price on the stock. Wedbush’s price objective points to a potential upside of 15.01% from the stock’s current price.

CLYM has been the topic of several other reports. Wall Street Zen upgraded Climb Bio from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. BTIG Research increased their price objective on Climb Bio from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, June 11th. Truist Financial raised their target price on shares of Climb Bio from $17.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Chardan Capital initiated coverage on shares of Climb Bio in a research note on Tuesday, May 5th. They issued a “buy” rating and a $22.00 target price on the stock. Finally, Oppenheimer upped their price target on shares of Climb Bio from $10.00 to $18.00 and gave the company an “outperform” rating in a report on Tuesday, April 21st. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $22.75.

Climb Bio Stock Down 0.3%

NASDAQ CLYM opened at $17.39 on Wednesday. The company has a 50-day simple moving average of $12.98 and a two-hundred day simple moving average of $9.85. Climb Bio has a 12-month low of $1.54 and a 12-month high of $17.53. The firm has a market cap of $998.88 million, a price-to-earnings ratio of -20.95 and a beta of 0.08.

Climb Bio (NASDAQ:CLYM) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.03. Equities analysts expect that Climb Bio will post -0.84 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Climb Bio

Several hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC bought a new position in shares of Climb Bio during the first quarter valued at approximately $27,000. Virtu Financial LLC purchased a new stake in shares of Climb Bio in the 4th quarter worth about $43,000. Qube Research & Technologies Ltd bought a new stake in shares of Climb Bio during the 2nd quarter valued at about $43,000. Blair William & Co. IL bought a new position in Climb Bio in the fourth quarter worth about $44,000. Finally, Legal & General Group Plc bought a new stake in Climb Bio during the 2nd quarter valued at approximately $45,000. 69.76% of the stock is owned by hedge funds and other institutional investors.

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.