Climb Bio (NASDAQ:CLYM) Coverage Initiated by Analysts at William Blair

Key Points

• William Blair has initiated coverage on Climb Bio (NASDAQ:CLYM) with an outperform rating, reflecting positive analyst sentiment towards the stock.
• Climb Bio's average rating among analysts is currently at Buy, with a price target of approximately $9.20.
• The company has reported earnings per share of ($0.13), exceeding consensus estimates, as it develops therapeutics for immune-mediated diseases.

Equities research analysts at William Blair assumed coverage on shares of Climb Bio (NASDAQ:CLYM - Get Free Report) in a report released on Thursday,Benzinga reports. The brokerage set an "outperform" rating on the stock.

Several other equities research analysts have also commented on the stock. Wall Street Zen upgraded shares of Climb Bio from a "sell" rating to a "hold" rating in a research note on Monday, October 6th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Climb Bio in a research report on Wednesday, October 8th. BTIG Research upped their target price on shares of Climb Bio from $7.00 to $8.00 and gave the company a "buy" rating in a research note on Tuesday, September 30th. Baird R W raised shares of Climb Bio to a "strong-buy" rating in a report on Friday, August 15th. Finally, Robert W. Baird started coverage on shares of Climb Bio in a research note on Friday, August 15th. They set an "outperform" rating and a $9.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Climb Bio currently has an average rating of "Buy" and an average price target of $9.20.

Climb Bio Stock Up 3.2%

CLYM opened at $1.94 on Thursday. Climb Bio has a twelve month low of $1.05 and a twelve month high of $5.27. The company has a market cap of $131.45 million, a PE ratio of -2.77 and a beta of -0.07. The company has a 50-day moving average price of $2.09 and a 200 day moving average price of $1.57.

Climb Bio (NASDAQ:CLYM - Get Free Report) last announced its quarterly 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, sell-side analysts expect that Climb Bio will post -1.57 earnings per share for the current year.

Institutional Trading of Climb Bio

Several institutional investors and hedge funds have recently added to or reduced their stakes in CLYM. AQR Capital Management LLC bought a new stake in Climb Bio during the 1st quarter worth about $27,000. XTX Topco Ltd acquired a new position in Climb Bio during the 1st quarter worth approximately $34,000. Qube Research & Technologies Ltd acquired a new position in Climb Bio during the 2nd quarter worth approximately $43,000. Marshall Wace LLP acquired a new stake in shares of Climb Bio in the 2nd quarter valued at approximately $46,000. Finally, Nuveen LLC acquired a new stake in Climb Bio during the 1st quarter valued at $48,000. 69.76% of the stock is owned by institutional investors.

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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