Climb Bio, Inc. (NASDAQ:CLYM) Receives Average Recommendation of "Buy" from Brokerages

Key Points

• Climb Bio, Inc. (NASDAQ:CLYM) has received an average recommendation of "Buy" from six brokerages, with four analysts rating it as a buy and two as a strong buy.
• The company has a 12-month price target of $9.00 set by analysts, with recent coverage indicating optimistic ratings from firms like Baird and Oppenheimer.
• As of the latest earnings report, Climb Bio reported an EPS of -$0.13, exceeding the consensus estimate of -$0.19, and is currently priced at $2.47 with a market capitalization of $167.37 million.

Climb Bio, Inc. (NASDAQ:CLYM - Get Free Report) has been given an average rating of "Buy" by the six brokerages that are presently covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $9.00.

Several equities analysts recently issued reports on the company. BTIG Research assumed coverage on Climb Bio in a report on Thursday, May 22nd. They set a "buy" rating for the company. Baird R W raised Climb Bio to a "strong-buy" rating in a report on Friday, August 15th. Oppenheimer started coverage on Climb Bio in a report on Friday, June 6th. They set an "outperform" rating and a $10.00 price objective for the company. Finally, Robert W. Baird started coverage on Climb Bio in a report on Friday, August 15th. They issued an "outperform" rating and a $9.00 price target for the company.

Hedge Funds Weigh In On Climb Bio

A number of institutional investors have recently made changes to their positions in CLYM. AQR Capital Management LLC acquired a new position in shares of Climb Bio in the first quarter worth $27,000. XTX Topco Ltd acquired a new position in shares of Climb Bio in the first quarter worth $34,000. Qube Research & Technologies Ltd acquired a new position in shares of Climb Bio in the second quarter worth $43,000. Marshall Wace LLP acquired a new position in shares of Climb Bio in the second quarter worth $46,000. Finally, Nuveen LLC acquired a new position in shares of Climb Bio in the first quarter worth $48,000. 69.76% of the stock is owned by institutional investors and hedge funds.

Climb Bio Price Performance

CLYM opened at $2.47 on Tuesday. The business has a 50 day simple moving average of $1.74 and a 200-day simple moving average of $1.44. The stock has a market capitalization of $167.37 million, a P/E ratio of -3.53 and a beta of -0.05. Climb Bio has a 12 month low of $1.05 and a 12 month high of $8.79.

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

About Climb Bio

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.

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