Climb Bio (NASDAQ:CLYM) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Key Points

• Climb Bio beat earnings expectations, reporting a quarterly loss of $0.18 per share versus the consensus estimate of a $0.21 loss.
• The stock held at $14.00, while institutional investors owned 69.76% of outstanding shares. Climb Bio’s market capitalization was approximately $801.6 million.
• Analysts remain broadly bullish, with a consensus “Buy” rating and an average price target of $22.75; recent targets range from $20 to $35.

Climb Bio (NASDAQ:CLYM - Get Free Report) issued its earnings results on Thursday. The company reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.03, FiscalAI reports.

Climb Bio Stock Performance

NASDAQ CLYM remained flat at $14.00 during trading on Friday. 910,257 shares of the company's stock traded hands, compared to its average volume of 1,067,371. Climb Bio has a 1-year low of $1.54 and a 1-year high of $14.53. The firm has a market capitalization of $801.64 million, a P/E ratio of -16.87 and a beta of 0.08. The stock has a 50 day simple moving average of $12.36 and a two-hundred day simple moving average of $9.30.

Institutional Investors Weigh In On Climb Bio

A number of large investors have recently modified their holdings of CLYM. XTX Topco Ltd raised its position in shares of Climb Bio by 19.4% in the 4th quarter. XTX Topco Ltd now owns 34,852 shares of the company's stock worth $139,000 after acquiring an additional 5,668 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Climb Bio during the fourth quarter valued at approximately $43,000. Blair William & Co. IL bought a new stake in shares of Climb Bio during the fourth quarter valued at approximately $44,000. Hsbc Holdings PLC grew its stake in Climb Bio by 107.2% in the fourth quarter. Hsbc Holdings PLC now owns 24,744 shares of the company's stock worth $99,000 after purchasing an additional 12,800 shares during the period. Finally, ADAR1 Capital Management LLC grew its stake in Climb Bio by 11.9% in the third quarter. ADAR1 Capital Management LLC now owns 133,530 shares of the company's stock worth $268,000 after purchasing an additional 14,210 shares during the period. Institutional investors own 69.76% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CLYM shares. BTIG Research raised their price target on shares of Climb Bio from $19.00 to $20.00 and gave the stock a "buy" rating in a report on Thursday, June 11th. Robert W. Baird set a $21.00 price objective on shares of Climb Bio in a research note on Wednesday, May 6th. Truist Financial increased their target price on shares of Climb Bio from $17.00 to $25.00 and gave the stock a "buy" rating in a report on Friday. Royal Bank Of Canada started coverage on Climb Bio in a research note on Monday. They issued an "outperform" rating and a $23.00 target price on the stock. Finally, Guggenheim began coverage on Climb Bio in a report on Monday, June 8th. They set a "buy" rating and a $35.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Climb Bio has an average rating of "Buy" and a consensus target price of $22.75.

Climb Bio Company Profile

Climb Bio Therapeutics, Inc is a clinical-stage biotechnology company focused on the discovery and development of engineered protein therapeutics for the treatment of cancer and immune-mediated disorders. The company's mission centers on designing biologics with enhanced specificity and functional activity to engage key cellular targets and improve patient outcomes in areas of high unmet need.

At the heart of Climb Bio's approach is its proprietary protein engineering platform, which combines mammalian cell display, directed evolution and computational modeling.

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