Climb Bio (NASDAQ:CLYM) Stock Price Expected to Rise, HC Wainwright Analyst Says

Key Points

• HC Wainwright raised Climb Bio’s price target to $30 from $24 and maintained a “Buy” rating, implying approximately 93.3% upside from the stock’s current price.
• Analyst sentiment is broadly positive: Climb Bio has an average “Moderate Buy” rating and a consensus price target of $26.38, with several firms recently increasing their targets.
• Climb Bio shares opened at $15.52 and have risen substantially from their 52-week low of $1.54; institutional investors own 69.76% of the company, while the latest quarterly loss of $0.18 per share was narrower than expected.

Climb Bio (NASDAQ:CLYM - Get Free Report) had its price target boosted by investment analysts at HC Wainwright from $24.00 to $30.00 in a report released on Tuesday, Benzinga reports. The firm currently has a "buy" rating on the stock. HC Wainwright's target price points to a potential upside of 93.30% from the stock's current price.

A number of other research analysts also recently weighed in on CLYM. Truist Financial increased their price target on Climb Bio from $17.00 to $25.00 and gave the company a "buy" rating in a research note on Friday, August 7th. Wedbush reiterated an "outperform" rating and issued a $20.00 price objective on shares of Climb Bio in a report on Wednesday, August 19th. Royal Bank Of Canada began coverage on Climb Bio in a research note on Monday, August 3rd. They issued an "outperform" rating and a $23.00 target price on the stock. BTIG Research raised their target price on Climb Bio from $20.00 to $32.00 and gave the stock a "buy" rating in a report on Thursday, September 3rd. Finally, B. Riley Financial reaffirmed a "buy" rating and issued a $30.00 price target (up from $26.00) on shares of Climb Bio in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $26.38.

Climb Bio Stock Performance

Shares of NASDAQ:CLYM opened at $15.52 on Tuesday. Climb Bio has a 1-year low of $1.54 and a 1-year high of $18.33. The stock has a market capitalization of $891.47 million, a P/E ratio of -18.70 and a beta of 0.09. The business has a 50-day moving average price of $14.08 and a two-hundred day moving average price of $10.89.

Climb Bio (NASDAQ:CLYM - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.03. As a group, equities analysts predict that Climb Bio will post -0.78 EPS for the current year.

Hedge Funds Weigh In On Climb Bio

Institutional investors have recently modified their holdings of the business. MPM Bioimpact LLC bought a new position in Climb Bio in the fourth quarter valued at approximately $10,686,000. BlackRock Inc. bought a new stake in shares of Climb Bio during the second quarter worth $30,708,000. Braidwell LP increased its position in shares of Climb Bio by 102.6% during the second quarter. Braidwell LP now owns 3,099,027 shares of the company's stock worth $40,411,000 after acquiring an additional 1,569,352 shares in the last quarter. Price T Rowe Associates Inc. MD raised 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 acquiring an additional 1,396,722 shares during the period. Finally, ADAR1 Capital Management LLC lifted its position in Climb Bio by 972.8% in the 4th quarter. ADAR1 Capital Management LLC now owns 1,432,475 shares of the company's stock valued at $5,730,000 after acquiring an additional 1,298,945 shares in the last quarter. Institutional investors 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.

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