Climb Bio (NASDAQ:CLYM) Announces Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Key Points

• Climb Bio reported earnings of ($0.13) EPS for the quarter, exceeding expectations by $0.06 as analysts anticipated a loss of ($0.19).
• Despite beating earnings estimates, Climb Bio's stock fell 5.2% to $1.57 following the announcement, with a market cap of $105.76 million.
• Institutional investors, including Goldman Sachs, have shown interest, with the firm acquiring a new stake worth approximately $147,000, bringing their total ownership to 0.18%.

Climb Bio (NASDAQ:CLYM - Get Free Report) issued its earnings results on Tuesday. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.06, Zacks reports.

Climb Bio Stock Down 5.2%

CLYM traded down $0.09 during trading on Tuesday, hitting $1.57. 374,905 shares of the company's stock were exchanged, compared to its average volume of 321,906. The business's 50 day moving average is $1.38 and its two-hundred day moving average is $1.37. Climb Bio has a fifty-two week low of $1.05 and a fifty-two week high of $8.79. The stock has a market cap of $105.76 million, a P/E ratio of -0.66 and a beta of -0.11.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Climb Bio stock. Goldman Sachs Group Inc. bought a new stake in Climb Bio, Inc. (NASDAQ:CLYM - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 120,742 shares of the company's stock, valued at approximately $147,000. Goldman Sachs Group Inc. owned about 0.18% of Climb Bio at the end of the most recent reporting period. Institutional investors and hedge funds own 69.76% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CLYM. BTIG Research began coverage on shares of Climb Bio in a research note on Thursday, May 22nd. They set a "buy" rating on the stock. 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 target price on the 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.

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