Climb Bio (NASDAQ:CLYM) Given New $20.00 Price Target at Wedbush

Climb Bio (NASDAQ:CLYM) had its price target upped by stock analysts at Wedbush from $17.00 to $20.00 in a research report issued on Monday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Wedbush’s target price points to a potential upside of 55.76% from the company’s current price.

Several other equities research analysts have also recently weighed in on the stock. Guggenheim assumed coverage on shares of Climb Bio in a research report on Monday, June 8th. They issued a “buy” rating and a $35.00 price target for the company. Wall Street Zen raised shares of Climb Bio from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. BTIG Research lifted their price objective on shares of Climb Bio from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, June 11th. HC Wainwright restated a “buy” rating and issued a $20.00 target price on shares of Climb Bio in a research report on Wednesday, June 24th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Climb Bio in a research note on Friday, July 17th. Three equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $22.00.

Climb Bio Price Performance

Shares of NASDAQ:CLYM opened at $12.84 on Monday. The stock has a market capitalization of $735.22 million, a PE ratio of -16.46 and a beta of 0.07. The firm’s 50 day moving average price is $12.01 and its 200-day moving average price is $8.74. Climb Bio has a twelve month low of $1.36 and a twelve month high of $14.41.

Climb Bio (NASDAQ:CLYM) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.20) earnings per share for the quarter, topping the consensus estimate of ($0.26) by $0.06. Analysts expect that Climb Bio will post -0.87 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Climb Bio

Hedge funds and other institutional investors have recently bought and sold shares of the stock. MPM Bioimpact LLC purchased a new position in Climb Bio in the fourth quarter worth $10,686,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Climb Bio by 265.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,923,639 shares of the company’s stock worth $7,695,000 after purchasing an additional 1,396,722 shares during the last quarter. ADAR1 Capital Management LLC boosted its holdings in shares of Climb Bio by 972.8% during the fourth quarter. ADAR1 Capital Management LLC now owns 1,432,475 shares of the company’s stock worth $5,730,000 after purchasing an additional 1,298,945 shares during the last quarter. Sphera Funds Management LTD. grew its position in shares of Climb Bio by 114.4% in the fourth quarter. Sphera Funds Management LTD. now owns 932,247 shares of the company’s stock valued at $3,729,000 after purchasing an additional 497,410 shares during the period. Finally, Kotler Kevin purchased a new stake in Climb Bio during the 4th quarter worth approximately $1,600,000. 69.76% of the stock is currently owned by institutional investors and hedge funds.

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.