Climb Bio (NASDAQ:CLYM) Releases Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Key Points

• Climb Bio reported quarterly EPS of ($0.20), beating analyst expectations of ($0.26) by $0.06.
• The stock traded lower after the report, falling to $11.37 on Friday, though volume was above average.
• Wall Street remains bullish overall, with a consensus Buy rating and an average target price of $19.80.

Climb Bio (NASDAQ:CLYM - Get Free Report) released its quarterly earnings data on Thursday. The company reported ($0.20) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.06, FiscalAI reports.

Climb Bio Stock Performance

NASDAQ:CLYM traded down $0.54 on Friday, hitting $11.37. The stock had a trading volume of 1,139,064 shares, compared to its average volume of 953,669. The stock has a market cap of $543.14 million, a P/E ratio of -14.58 and a beta of 0.02. Climb Bio has a 1 year low of $1.13 and a 1 year high of $12.48. The firm's fifty day simple moving average is $7.90 and its two-hundred day simple moving average is $5.08.

Hedge Funds Weigh In On Climb Bio

Several institutional investors have recently modified their holdings of the business. AQR Capital Management LLC bought a new position in Climb Bio in the 1st quarter valued at $27,000. Goldman Sachs Group Inc. bought a new position in Climb Bio in the 1st quarter valued at $147,000. Marshall Wace LLP bought a new position in Climb Bio in the 2nd quarter valued at $46,000. Qube Research & Technologies Ltd bought a new position in Climb Bio in the 2nd quarter valued at $43,000. Finally, Jane Street Group LLC bought a new position in Climb Bio in the 2nd quarter valued at $184,000. 69.76% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CLYM has been the subject of several recent research reports. Robert W. Baird set a $21.00 target price on shares of Climb Bio in a research report on Wednesday. Mizuho initiated coverage on shares of Climb Bio in a research report on Wednesday, April 15th. They set an "outperform" rating and a $18.00 target price for the company. BTIG Research boosted their target price on shares of Climb Bio from $8.00 to $19.00 and gave the stock a "buy" rating in a research report on Wednesday. Chardan Capital initiated coverage on shares of Climb Bio in a research report on Tuesday. They set a "buy" rating and a $22.00 target price for the company. Finally, Wall Street Zen raised shares of Climb Bio from a "sell" rating to a "hold" rating in a research report on Saturday. Three equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $19.80.

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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