Climb Bio (NASDAQ:CLYM) Coverage Initiated by Analysts at HC Wainwright

Key Points

• HC Wainwright initiated coverage on Climb Bio (NASDAQ:CLYM), assigning a "buy" rating and a price target of $9.00, indicating a potential upside of 350% from its current price.
• Climb Bio has received mixed ratings from analysts, with three rating it as a Strong Buy, four as Buy, and one as Sell; the average rating stands at "Buy" with a target price of $9.20.
• The company's stock opened at $2.00 and has a market capitalization of $135.52 million, with institutional investors holding nearly 70% of the shares.

Research analysts at HC Wainwright initiated coverage on shares of Climb Bio (NASDAQ:CLYM - Get Free Report) in a research note issued on Monday, MarketBeat.com reports. The brokerage set a "buy" rating and a $9.00 price target on the stock. HC Wainwright's price objective indicates a potential upside of 350.00% from the company's current price.

CLYM has been the subject of several other research reports. Wall Street Zen upgraded shares of Climb Bio from a "sell" rating to a "hold" rating in a research note on Monday, October 6th. Robert W. Baird assumed coverage on shares of Climb Bio in a research note on Friday, August 15th. They issued an "outperform" rating and a $9.00 target price for the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of Climb Bio in a research note on Wednesday, October 8th. BTIG Research increased their target price on shares of Climb Bio from $7.00 to $8.00 and gave the company a "buy" rating in a research note on Tuesday, September 30th. Finally, Baird R W upgraded shares of Climb Bio to a "strong-buy" rating in a research note on Friday, August 15th. Three analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Climb Bio presently has an average rating of "Buy" and an average price target of $9.20.

Climb Bio Price Performance

CLYM stock opened at $2.00 on Monday. Climb Bio has a 52-week low of $1.05 and a 52-week high of $5.47. The company has a 50-day moving average of $2.08 and a two-hundred day moving average of $1.56. The stock has a market capitalization of $135.52 million, a price-to-earnings ratio of -2.86 and a beta of -0.07.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CLYM. RA Capital Management L.P. bought a new position in Climb Bio during the first quarter worth about $38,332,000. Affinity Asset Advisors LLC bought a new position in Climb Bio during the first quarter worth about $1,830,000. Peapod Lane Capital LLC bought a new position in Climb Bio during the first quarter worth about $676,000. Nan Fung Trinity HK Ltd. bought a new position in Climb Bio during the second quarter worth about $575,000. Finally, Allostery Investments LP bought a new position in Climb Bio during the first quarter worth about $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.