Climb Bio (NASDAQ:CLYM) Price Target Raised to $25.00

Key Points

• Truist Financial raised Climb Bio’s price target to $25 from $17 and maintained a “Buy” rating, implying 76.21% upside from the reported $14.19 price.
• Analyst sentiment is broadly positive, with a consensus “Buy” rating and average price target of $22.75; targets range from $20 to $35, although Weiss Ratings maintained a “Sell” rating.
• Climb Bio reported quarterly EPS of negative $0.18, beating the consensus estimate of negative $0.21. Institutional investors own approximately 69.76% of the company, while the stock has risen substantially from its 52-week low of $1.54.

Climb Bio (NASDAQ:CLYM - Get Free Report) had its target price upped by research analysts at Truist Financial from $17.00 to $25.00 in a research note issued on Friday,Benzinga reports. The firm presently has a "buy" rating on the stock. Truist Financial's target price indicates a potential upside of 76.21% from the company's current price.

Other equities analysts have also issued reports about the stock. HC Wainwright reaffirmed a "buy" rating and issued a $20.00 price objective on shares of Climb Bio in a research report on Wednesday, June 24th. Guggenheim started coverage on shares of Climb Bio in a research note on Monday, June 8th. They set a "buy" rating and a $35.00 price target on the stock. Robert W. Baird set a $21.00 price target on shares of Climb Bio in a report on Wednesday, May 6th. Wedbush lifted their price objective on shares of Climb Bio from $17.00 to $20.00 and gave the stock an "outperform" rating in a research note on Monday, July 27th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Climb Bio in a report on Friday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $22.75.

Climb Bio Price Performance

Climb Bio stock opened at $14.19 on Friday. The stock has a market capitalization of $812.40 million, a price-to-earnings ratio of -18.37 and a beta of 0.08. Climb Bio has a 1-year low of $1.54 and a 1-year high of $14.41. The business has a fifty day moving average price of $12.30 and a 200-day moving average price of $9.26.

Climb Bio (NASDAQ:CLYM - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.03. On average, equities research analysts anticipate that Climb Bio will post -0.87 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Seven Fleet Capital Management LP purchased a new stake in shares of Climb Bio during the fourth quarter worth approximately $306,000. ArchPoint Investors acquired a new stake in Climb Bio during the fourth quarter worth about $486,000. 683 Capital Management LLC purchased a new stake in shares of Climb Bio in the 4th quarter valued at approximately $807,000. The Manufacturers Life Insurance Company grew its position in Climb Bio by 11.2% in the first quarter. The Manufacturers Life Insurance Company now owns 156,317 shares of the company's stock worth $1,071,000 after acquiring an additional 15,700 shares during the period. Finally, State of Wyoming acquired a new stake in Climb Bio during the second quarter worth $187,000. Institutional investors and hedge funds own 69.76% of the company's stock.

About Climb Bio

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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