Climb Bio (NASDAQ:CLYM) Stock Rating Upgraded by Mizuho

Climb Bio (NASDAQ:CLYM) was upgraded by analysts at Mizuho to a “strong-buy” rating in a research note issued on Monday, Zacks reports.

A number of other research analysts have also recently issued reports on CLYM. BTIG Research lifted their price objective on Climb Bio from $20.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday, September 3rd. Oppenheimer increased their target price on Climb Bio from $18.00 to $25.00 and gave the stock an “outperform” rating in a research note on Tuesday. Truist Financial raised their price target on Climb Bio from $17.00 to $25.00 and gave the company a “buy” rating in a report on Friday, August 7th. HC Wainwright lifted their price target on Climb Bio from $24.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Wedbush reiterated an “outperform” rating and issued a $20.00 price target on shares of Climb Bio in a research note on Wednesday, August 19th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $26.92.

Climb Bio Stock Performance

CLYM stock opened at $15.90 on Monday. The firm has a 50 day moving average price of $14.14 and a 200-day moving average price of $10.96. Climb Bio has a 52-week low of $1.54 and a 52-week high of $18.33. The firm has a market capitalization of $913.23 million, a price-to-earnings ratio of -19.16 and a beta of 0.09.

Climb Bio (NASDAQ:CLYM) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.03. As a group, sell-side analysts forecast that Climb Bio will post -0.78 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Climb Bio

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Legal & General Group Plc purchased a new stake in Climb Bio during the 2nd quarter valued at $45,000. XTX Topco Ltd raised its position in Climb Bio by 19.4% in the 4th quarter. XTX Topco Ltd now owns 34,852 shares of the company’s stock worth $139,000 after buying an additional 5,668 shares during the last quarter. California State Teachers Retirement System purchased a new position in Climb Bio in the 2nd quarter worth about $82,000. Virtu Financial LLC bought a new position in Climb Bio during the 4th quarter valued at about $43,000. Finally, Blair William & Co. IL bought a new position in Climb Bio during the 4th quarter valued at about $44,000. 69.76% of the stock is owned by institutional investors.

Climb Bio Company Profile

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.