Baird R W Upgrades Climb Bio (NASDAQ:CLYM) to Strong-Buy

Key Points

• Climb Bio has been upgraded to a "strong-buy" rating by analysts at Baird R W, indicating increased optimism about the company's future performance.
• The stock is currently trading at $1.90, with a twelve-month low of $1.05 and a high of $8.79, reflecting significant volatility in its market value.
• Climb Bio reported an earnings per share (EPS) of ($0.13) for the last quarter, outperforming the consensus estimate, which suggests positive momentum in its financial performance.

Climb Bio (NASDAQ:CLYM - Get Free Report) was upgraded by Baird R W to a "strong-buy" rating in a research report issued to clients and investors on Friday,Zacks.com reports.

A number of other equities analysts have also issued reports on the stock. BTIG Research initiated coverage on shares of Climb Bio in a research report on Thursday, May 22nd. They set a "buy" rating for the company. Robert W. Baird started coverage on shares of Climb Bio in a research report on Friday, August 15th. They set an "outperform" rating and a $9.00 price objective for the company. Finally, Oppenheimer started coverage on shares of Climb Bio in a research report on Friday, June 6th. They issued an "outperform" rating and a $10.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating and four have assigned a Buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $9.00.

Climb Bio Trading Down 3.1%

CLYM stock traded down $0.07 during midday trading on Friday, reaching $2.18. 467,184 shares of the company's stock traded hands, compared to its average volume of 344,841. Climb Bio has a 52-week low of $1.05 and a 52-week high of $8.79. The stock has a market cap of $147.72 million, a P/E ratio of -3.11 and a beta of -0.11. The stock's 50-day moving average is $1.46 and its 200 day moving average is $1.38.

Climb Bio (NASDAQ:CLYM - Get Free Report) last announced its earnings results on Tuesday, August 12th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.06. As a group, research analysts expect that Climb Bio will post -1.57 EPS for the current fiscal year.

Institutional Inflows and Outflows

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