BTIG Research Increases Climb Bio (NASDAQ:CLYM) Price Target to $32.00

Key Points

• BTIG Research raised Climb Bio’s price target from $20 to $32 while maintaining a “buy” rating, implying roughly 119% upside from the stock’s $14.60 price.
• Analyst sentiment is broadly positive: Climb Bio has a consensus “Buy” rating and an average price target of $25.62, with targets ranging from $21 to $40.
• Climb Bio reported quarterly EPS of $(0.18), beating estimates of $(0.21), while institutional investors and hedge funds own approximately 69.76% of the company’s shares.

Climb Bio (NASDAQ:CLYM - Get Free Report) had its price objective lifted by equities researchers at BTIG Research from $20.00 to $32.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has a "buy" rating on the stock. BTIG Research's price target would suggest a potential upside of 119.15% from the stock's current price.

A number of other equities research analysts have also recently issued reports on the stock. Robert W. Baird set a $21.00 price target on shares of Climb Bio in a report on Wednesday, May 6th. Wall Street Zen raised Climb Bio from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. HC Wainwright raised their target price on Climb Bio from $20.00 to $24.00 and gave the company a "buy" rating in a report on Monday, August 24th. Piper Sandler set a $40.00 price target on Climb Bio and gave the stock an "overweight" rating in a research report on Thursday. Finally, Guggenheim began coverage on Climb Bio in a report on Monday, June 8th. They set a "buy" rating and a $35.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $25.62.

Climb Bio Price Performance

Shares of CLYM stock traded down $0.45 during trading on Thursday, reaching $14.60. The company had a trading volume of 4,372,141 shares, compared to its average volume of 983,717. Climb Bio has a one year low of $1.54 and a one year high of $18.33. The firm's 50 day simple moving average is $13.95 and its two-hundred day simple moving average is $10.69. The company has a market capitalization of $838.74 million, a PE ratio of -17.51 and a beta of 0.09.

Climb Bio (NASDAQ:CLYM - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.03. Analysts forecast that Climb Bio will post -0.82 earnings per share for the current year.

Hedge Funds Weigh In On Climb Bio

A number of hedge funds have recently made changes to their positions in the business. Legal & General Group Plc bought a new position in shares of Climb Bio during the 2nd quarter worth about $45,000. California State Teachers Retirement System bought a new position in Climb Bio during the second quarter worth about $82,000. Virtu Financial LLC acquired a new stake in Climb Bio during the fourth quarter valued at approximately $43,000. Blair William & Co. IL bought a new stake in shares of Climb Bio in the 4th quarter valued at approximately $44,000. Finally, Balyasny Asset Management L.P. bought a new stake in shares of Climb Bio in the 4th quarter valued at approximately $57,000. Institutional investors and hedge funds own 69.76% of the company's stock.

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.

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