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

Key Points

• Analysts rate Climb Bio a "Buy" — 12 analysts cover the stock (1 sell, 8 buy, 3 strong buy) with an average 12‑month target of $16.78 and individual targets ranging roughly from $8 to $25.
• Shares trade near $9.37 with a 52‑week range of $1.13–$9.90 and a market cap of $447.6M; the company reported last-quarter EPS of ($0.26) (missing estimates) and analysts forecast -1.11 EPS for the current year.
• Climb Bio is a clinical‑stage biotech developing engineered protein therapeutics, and about 69.76% of its shares are held by hedge funds and other institutional investors.

Shares of Climb Bio, Inc. (NASDAQ:CLYM - Get Free Report) have been assigned an average recommendation of "Buy" from the twelve analysts that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, eight have issued a buy recommendation and three have given a strong buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $16.7778.

Several brokerages have recently weighed in on CLYM. Weiss Ratings reiterated a "sell (d-)" rating on shares of Climb Bio in a research note on Wednesday, January 21st. Mizuho assumed coverage on shares of Climb Bio in a report on Wednesday, April 15th. They set an "outperform" rating and a $18.00 price target for the company. Raymond James Financial assumed coverage on shares of Climb Bio in a report on Tuesday, March 10th. They set a "strong-buy" rating and a $25.00 price target for the company. Truist Financial assumed coverage on shares of Climb Bio in a report on Tuesday, March 17th. They set a "buy" rating and a $17.00 price target for the company. Finally, BTIG Research reissued a "buy" rating and set a $8.00 price target on shares of Climb Bio in a report on Wednesday, April 8th.

Climb Bio Stock Performance

Shares of CLYM opened at $9.37 on Wednesday. Climb Bio has a fifty-two week low of $1.13 and a fifty-two week high of $9.90. The company has a market capitalization of $447.60 million, a price-to-earnings ratio of -10.53 and a beta of -0.21. The firm has a 50-day simple moving average of $7.05 and a 200-day simple moving average of $4.51.

Climb Bio (NASDAQ:CLYM - Get Free Report) last announced its earnings results on Thursday, March 5th. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.06). Equities research analysts forecast that Climb Bio will post -1.11 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Virtu Financial LLC purchased a new position in Climb Bio in the fourth quarter valued at about $43,000. Blair William & Co. IL purchased a new position in Climb Bio in the fourth quarter valued at about $44,000. Balyasny Asset Management L.P. purchased a new position in Climb Bio in the fourth quarter valued at about $57,000. Vanguard Personalized Indexing Management LLC acquired a new stake in Climb Bio in the third quarter valued at $29,000. Finally, AQR Capital Management LLC acquired a new stake in Climb Bio in the first quarter valued at $27,000. 69.76% of the stock is owned by hedge funds and other institutional investors.

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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