Climb Bio (NASDAQ:CLYM) Rating Increased to Moderate Buy at Royal Bank Of Canada

Key Points

• Royal Bank of Canada upgraded Climb Bio to “moderate buy,” adding to generally positive analyst sentiment. The stock has a consensus “Buy” rating and an average price target of $22.08, although Weiss Ratings maintains a “sell” rating.
• Climb Bio shares opened at $11.81, compared with a 52-week range of $1.54 to $14.41. The company reported a quarterly loss of $0.20 per share, beating estimates of a $0.26 loss.
• Institutional investors own approximately 69.76% of Climb Bio, with firms including AQR Capital Management, Goldman Sachs, Marshall Wace, Qube Research and Jane Street recently establishing positions.

Climb Bio (NASDAQ:CLYM - Get Free Report) was upgraded by equities researchers at Royal Bank Of Canada to a "moderate buy" rating in a note issued to investors on Monday,Zacks.com reports.

Several other brokerages also recently commented on CLYM. Weiss Ratings reiterated a "sell (d-)" rating on shares of Climb Bio in a report on Friday, July 17th. Mizuho started coverage on Climb Bio in a research note on Wednesday, April 15th. They set an "outperform" rating and a $18.00 price target on the stock. Chardan Capital initiated coverage on Climb Bio in a report on Tuesday, May 5th. They issued a "buy" rating and a $22.00 price objective for the company. Oppenheimer upped their price objective on shares of Climb Bio from $10.00 to $18.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 21st. Finally, HC Wainwright reiterated a "buy" rating and set a $20.00 target price on shares of Climb Bio in a report on Wednesday, June 24th. Three research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $22.08.

Climb Bio Stock Performance

CLYM stock opened at $11.81 on Monday. The firm has a fifty day moving average price of $12.22 and a 200 day moving average price of $9.07. Climb Bio has a fifty-two week low of $1.54 and a fifty-two week high of $14.41. The firm has a market cap of $676.24 million, a PE ratio of -15.14 and a beta of 0.08.

Climb Bio (NASDAQ:CLYM - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.20) EPS for the quarter, beating analysts' consensus estimates of ($0.26) by $0.06. On average, equities analysts predict that Climb Bio will post -0.87 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in CLYM. AQR Capital Management LLC purchased a new stake in shares of Climb Bio during the 1st quarter worth $27,000. Goldman Sachs Group Inc. purchased a new position in Climb Bio in the first quarter valued at about $147,000. Marshall Wace LLP bought a new position in Climb Bio in the second quarter worth about $46,000. Qube Research & Technologies Ltd bought a new position in Climb Bio in the second quarter worth about $43,000. Finally, Jane Street Group LLC purchased a new stake in shares of Climb Bio during the second quarter valued at about $184,000. 69.76% of the stock is owned by institutional investors.

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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