Climb Bio, Inc. (NASDAQ:CLYM) Receives $9.00 Consensus PT 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 received an average rating of "Buy" from the six ratings firms that are presently covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $9.00.

CLYM has been the subject of several recent analyst reports. Oppenheimer started coverage on Climb Bio in a report on Friday, June 6th. They issued an "outperform" rating and a $10.00 price target for the company. BTIG Research began coverage on Climb Bio in a research note on Thursday, May 22nd. They set a "buy" rating on the stock. Baird R W upgraded Climb Bio to a "strong-buy" rating in a research note on Friday, August 15th. Finally, Robert W. Baird initiated coverage on shares of Climb Bio in a research note on Friday, August 15th. They set an "outperform" rating and a $9.00 price objective on the stock.

Climb Bio Price Performance

Shares of CLYM stock traded up $0.04 during trading hours on Friday, reaching $2.06. 225,471 shares of the stock were exchanged, compared to its average volume of 339,984. The business's fifty day moving average is $1.44 and its two-hundred day moving average is $1.37. Climb Bio has a 12-month low of $1.05 and a 12-month high of $8.79. The firm has a market capitalization of $139.59 million, a P/E ratio of -2.94 and a beta of -0.11.

Climb Bio (NASDAQ:CLYM - Get Free Report) last announced its earnings results on Tuesday, August 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.19) by $0.06. As a group, equities research analysts predict that Climb Bio will post -1.57 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Climb Bio

Several large investors have recently made changes to their positions in the company. AQR Capital Management LLC acquired a new stake in Climb Bio in the 1st quarter worth approximately $27,000. XTX Topco Ltd bought a new stake in shares of Climb Bio during the first quarter worth $34,000. Diadema Partners LP lifted its stake in shares of Climb Bio by 4.8% during the second quarter. Diadema Partners LP now owns 702,135 shares of the company's stock valued at $871,000 after acquiring an additional 32,332 shares during the period. Qube Research & Technologies Ltd acquired a new position in Climb Bio in the second quarter valued at about $43,000. Finally, Marshall Wace LLP acquired a new stake in shares of Climb Bio during the second quarter worth about $46,000. Institutional investors own 69.76% of the company's stock.

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.