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

Key Points

• Climb Bio, Inc. has received a consensus rating of "Buy" from analysts, with four recommending buy and one a strong buy, and the average 1-year target price set at $9.00.
• Recent institutional investments include purchases from Bank of New York Mellon Corp and Peapod Lane Capital LLC, indicating strong interest with 69.76% of shares held by institutional investors.
• The company reported quarterly earnings of ($0.13) per share, surpassing estimates and demonstrating potential growth as it develops therapeutics for immune-mediated diseases.

Shares of Climb Bio, Inc. (NASDAQ:CLYM - Get Free Report) have been given a consensus rating of "Buy" by the five analysts that are presently covering the company, MarketBeat reports. Four analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $9.00.

CLYM has been the subject of a number of recent analyst reports. Oppenheimer began coverage on shares of Climb Bio in a research note on Friday, June 6th. They set an "outperform" rating and a $10.00 price target for the company. Robert W. Baird assumed coverage on shares of Climb Bio in a research report on Friday. They set an "outperform" rating and a $9.00 target price on the stock. Finally, BTIG Research assumed coverage on shares of Climb Bio in a research note on Thursday, May 22nd. They set a "buy" rating on the stock.

Institutional Investors Weigh In On Climb Bio

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp purchased a new position in Climb Bio during the first quarter worth about $79,000. Peapod Lane Capital LLC purchased a new position in shares of Climb Bio in the first quarter valued at approximately $676,000. TD Asset Management Inc purchased a new position in shares of Climb Bio in the first quarter valued at approximately $109,000. XTX Topco Ltd purchased a new position in shares of Climb Bio in the first quarter valued at approximately $34,000. Finally, Charles Schwab Investment Management Inc. purchased a new position in Climb Bio in the first quarter worth approximately $86,000. 69.76% of the stock is currently owned by institutional investors and hedge funds.

Climb Bio Stock Performance

Shares of CLYM opened at $1.72 on Friday. The stock has a market cap of $116.55 million, a PE ratio of -2.46 and a beta of -0.11. Climb Bio has a fifty-two week low of $1.05 and a fifty-two week high of $8.79. The firm's 50-day simple moving average is $1.40 and its two-hundred day simple moving average is $1.37.

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 for the quarter, beating analysts' consensus estimates of ($0.19) by $0.06. Equities research analysts predict 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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