Climb Bio (NASDAQ:CLYM) Upgraded to "Strong-Buy" at Mizuho

Key Points

• Mizuho upgraded Climb Bio (NASDAQ:CLYM) to a strong‑buy, and after several recent analyst initiations the stock carries a MarketBeat consensus rating of Buy with a consensus target price of $15.89.
• Shares opened at $8.65 and were trading down about 2.3%; the company has a market cap of $413.2M, a negative P/E of -9.72, and a 52‑week range of $1.13–$9.25 (50/200‑day MAs: $6.75/$4.29).
• Several institutions materially increased or initiated positions in Q4 (notably MPM Bioimpact, Price T. Rowe and ADAR1), leaving institutional investors with roughly 69.76% ownership of the company.

Climb Bio (NASDAQ:CLYM - Get Free Report) was upgraded by investment analysts at Mizuho to a "strong-buy" rating in a report released on Wednesday,Zacks.com reports.

Other research analysts also recently issued reports about the company. Truist Financial assumed coverage on Climb Bio in a research note on Tuesday, March 17th. They set a "buy" rating and a $17.00 price objective for the company. Wedbush assumed coverage on Climb Bio in a research note on Thursday, March 5th. They set an "outperform" rating and a $12.00 price objective for the company. Piper Sandler assumed coverage on Climb Bio in a research note on Friday, February 13th. They set an "overweight" rating for the company. Raymond James Financial assumed coverage on Climb Bio in a research note on Tuesday, March 10th. They set a "strong-buy" rating and a $25.00 price objective for the company. Finally, BTIG Research restated a "buy" rating and set a $8.00 price objective on shares of Climb Bio in a research note on Wednesday, April 8th. Four research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Climb Bio presently has a consensus rating of "Buy" and a consensus target price of $15.89.

Climb Bio Trading Down 2.3%

Climb Bio stock opened at $8.65 on Wednesday. The stock has a market cap of $413.21 million, a P/E ratio of -9.72 and a beta of -0.21. The stock has a 50 day moving average of $6.75 and a 200-day moving average of $4.29. Climb Bio has a 52 week low of $1.13 and a 52 week high of $9.25.

Climb Bio (NASDAQ:CLYM - Get Free Report) last issued its quarterly earnings results on Thursday, March 5th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.06). As a group, equities analysts predict that Climb Bio will post -1.57 earnings per share for the current fiscal year.

Institutional Trading of Climb Bio

A number of hedge funds and other institutional investors have recently modified their holdings of CLYM. MPM Bioimpact LLC bought a new stake in shares of Climb Bio in the 4th quarter worth $10,686,000. Price T Rowe Associates Inc. MD raised its stake in shares of Climb Bio by 265.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,923,639 shares of the company's stock worth $7,695,000 after buying an additional 1,396,722 shares in the last quarter. ADAR1 Capital Management LLC raised its stake in shares of Climb Bio by 972.8% in the 4th quarter. ADAR1 Capital Management LLC now owns 1,432,475 shares of the company's stock worth $5,730,000 after buying an additional 1,298,945 shares in the last quarter. Sphera Funds Management LTD. raised its stake in shares of Climb Bio by 114.4% in the 4th quarter. Sphera Funds Management LTD. now owns 932,247 shares of the company's stock worth $3,729,000 after buying an additional 497,410 shares in the last quarter. Finally, Kotler Kevin bought a new stake in shares of Climb Bio in the 4th quarter worth $1,600,000. Institutional investors own 69.76% of the company's stock.

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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