Climb Bio (NASDAQ:CLYM) Upgraded by Wall Street Zen to Hold Rating

Key Points

• Climb Bio's stock rating was upgraded from "sell" to "hold" by Wall Street Zen, while Baird R W rated it as "strong-buy" with a target price of $9.00.
• The company has a market capitalization of $156.53 million and has experienced a stock price increase of 3.1% recently.
• Climb Bio is a clinical-stage biotech company focusing on therapeutics for immune-mediated diseases, with its lead product candidate showing potential for treating various B-cell mediated diseases.

Wall Street Zen upgraded shares of Climb Bio (NASDAQ:CLYM - Free Report) from a sell rating to a hold rating in a research report report published on Saturday morning.

A number of other equities research analysts have also weighed in on the company. Baird R W upgraded Climb Bio to a "strong-buy" rating in a research report on Friday, August 15th. Oppenheimer began coverage on Climb Bio in a research report on Friday, June 6th. They set an "outperform" rating and a $10.00 price objective on the stock. Finally, Robert W. Baird began coverage on Climb Bio in a research report on Friday, August 15th. They set an "outperform" rating and a $9.00 price objective on the stock. 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 stock has a consensus rating of "Buy" and an average target price of $9.00.

Climb Bio Stock Up 0.9%

Shares of CLYM stock traded up $0.02 during trading hours on Friday, reaching $2.34. The company's stock had a trading volume of 31,492 shares, compared to its average volume of 364,495. The firm's 50 day simple moving average is $1.93 and its 200-day simple moving average is $1.50. The company has a market capitalization of $158.56 million, a price-to-earnings ratio of -3.34 and a beta of -0.05. Climb Bio has a fifty-two week low of $1.05 and a fifty-two week high of $8.15.

Climb Bio (NASDAQ:CLYM - Get Free Report) last issued its earnings results on Tuesday, August 12th. The company reported ($0.13) earnings per share for the quarter, beating analysts' consensus estimates of ($0.19) by $0.06. Sell-side analysts predict that Climb Bio will post -1.57 earnings per share for the current year.

Hedge Funds Weigh In On Climb Bio

A number of institutional investors and hedge funds have recently made changes to their positions in CLYM. RA Capital Management L.P. bought a new stake in shares of Climb Bio during the first quarter valued at approximately $38,332,000. Affinity Asset Advisors LLC purchased a new position in shares of Climb Bio during the 1st quarter worth $1,830,000. Peapod Lane Capital LLC purchased a new position in shares of Climb Bio during the 1st quarter valued at $676,000. Nan Fung Trinity HK Ltd. purchased a new position in shares of Climb Bio during the 2nd quarter valued at $575,000. Finally, Allostery Investments LP bought a new stake in Climb Bio in the 1st quarter valued at $299,000. Institutional investors own 69.76% of the company's stock.

Climb Bio Company Profile

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.