BTIG Research Reaffirms Buy Rating for Climb Bio (NASDAQ:CLYM)

Key Points

• BTIG Research has reaffirmed a buy rating for Climb Bio (NASDAQ:CLYM), setting a target price of $7.00, which signifies a potential upside of 199.15% from its recent close.
• Climb Bio's stock is currently experiencing fluctuations, recently trading at $2.34 with a market cap of $158.57 million and a P/E ratio of -3.34.
• Institutional investors hold almost 70% of Climb Bio's shares, indicating strong backing from large investment firms as they continue to add positions in the company.

BTIG Research reaffirmed their buy rating on shares of Climb Bio (NASDAQ:CLYM - Free Report) in a research note released on Monday morning,Benzinga reports. They currently have a $7.00 price objective on the stock.

Several other research analysts have also commented on the company. Wall Street Zen upgraded Climb Bio from a "sell" rating to a "hold" rating in a research report on Saturday. Baird R W upgraded Climb Bio to a "strong-buy" rating in a research note on Friday, August 15th. Robert W. Baird started coverage on shares of Climb Bio in a research note on Friday, August 15th. They set an "outperform" rating and a $9.00 target price for the company. Finally, Oppenheimer started coverage on shares of Climb Bio in a report on Friday, June 6th. They set an "outperform" rating and a $10.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating and four have given a Buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $9.00.

Climb Bio Trading Up 0.4%

NASDAQ CLYM traded up $0.01 during trading hours on Monday, reaching $2.32. 529,086 shares of the company traded hands, compared to its average volume of 480,462. The stock has a market capitalization of $157.20 million, a PE ratio of -3.31 and a beta of -0.05. Climb Bio has a 12 month low of $1.05 and a 12 month high of $8.58. The company has a 50 day moving average of $1.93 and a two-hundred day moving average of $1.50.

Climb Bio (NASDAQ:CLYM - Get Free Report) last issued its quarterly earnings results on Tuesday, August 12th. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.06. On average, equities research analysts anticipate that Climb Bio will post -1.57 earnings per share for the current year.

Institutional Trading of Climb Bio

Several hedge funds have recently bought and sold shares of the company. Shay Capital LLC grew its position in Climb Bio by 107.5% in the 2nd quarter. Shay Capital LLC now owns 415,000 shares of the company's stock worth $515,000 after purchasing an additional 215,000 shares during the last quarter. Jane Street Group LLC bought a new position in Climb Bio in the 2nd quarter worth approximately $184,000. Diadema Partners LP grew its holdings in Climb Bio by 4.8% in the 2nd quarter. Diadema Partners LP now owns 702,135 shares of the company's stock worth $871,000 after buying an additional 32,332 shares in the last quarter. Qube Research & Technologies Ltd acquired a new stake in Climb Bio in the 2nd quarter valued at approximately $43,000. Finally, Marshall Wace LLP bought a new stake in Climb Bio during the 2nd quarter valued at $46,000. 69.76% of the stock is currently owned by institutional investors.

Climb Bio Company Profile

Climb Bio Inc is a clinical-stage biotechnology company developing therapeutics for patients with immune-mediated diseases. The Company's lead product candidate, budoprutug, is an anti-CD19 monoclonal antibody which has demonstrated B-cell depletion and has potential to treat a broad range of B-cell mediated diseases.