Climb Bio (NASDAQ:CLYM) Now Covered by Robert W. Baird

Key Points

• Robert W. Baird has initiated coverage of Climb Bio (NASDAQ:CLYM) with an "outperform" rating and a price target of $9.00, suggesting a potential upside of 423.26% from its current price.
• Climb Bio's stock has seen a range between a 52-week low of $1.05 and a high of $8.79, with recent trading around $1.72.
• The company recently reported earnings of (-$0.13) per share, exceeding analysts' expectations, as it continues to focus on developing therapies for immune-mediated diseases.

Stock analysts at Robert W. Baird initiated coverage on shares of Climb Bio (NASDAQ:CLYM - Get Free Report) in a research note issued on Friday, MarketBeat reports. The firm set an "outperform" rating and a $9.00 price target on the stock. Robert W. Baird's price objective suggests a potential upside of 423.26% from the stock's current price.

Several other research firms also recently weighed in on CLYM. Oppenheimer started coverage on shares of Climb Bio in a research note 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. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $9.00.

Climb Bio Stock Performance

CLYM stock opened at $1.72 on Friday. The company has a fifty day moving average price of $1.40 and a 200-day moving average price of $1.37. The company has a market capitalization of $116.55 million, a P/E ratio of -2.46 and a beta of -0.11. Climb Bio has a 52-week low of $1.05 and a 52-week high of $8.79.

Climb Bio (NASDAQ:CLYM - Get Free Report) last released its earnings results 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. As a group, sell-side analysts forecast that Climb Bio will post -1.57 earnings per share for the current fiscal year.

Institutional Trading of Climb Bio

Institutional investors have recently added to or reduced their stakes in the stock. RA Capital Management L.P. purchased a new position in Climb Bio during the first quarter valued at approximately $38,332,000. Affinity Asset Advisors LLC purchased a new position in Climb Bio in the 1st quarter worth approximately $1,830,000. Diadema Partners LP increased its holdings in shares of Climb Bio by 4.8% in the 2nd quarter. Diadema Partners LP now owns 702,135 shares of the company's stock worth $871,000 after buying an additional 32,332 shares during the last quarter. Peapod Lane Capital LLC bought a new position in shares of Climb Bio in the 1st quarter worth $676,000. Finally, Nan Fung Trinity HK Ltd. purchased a new stake in shares of Climb Bio during the 2nd quarter valued at $575,000. Hedge funds and other 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.

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