Affinity Asset Advisors LLC Invests $1.83 Million in Climb Bio, Inc. $CLYM

Key Points

• Affinity Asset Advisors LLC acquired a new stake in Climb Bio, Inc., purchasing 1,500,000 shares valued at approximately $1.83 million, representing about 2.22% ownership in the company.
• Climb Bio stock has seen significant analyst interest, with several firms issuing "outperform" and "strong-buy" ratings, including a consensus price target of $9.00.
• The company, a clinical-stage biotechnology firm, reported a quarterly EPS of ($0.13), beating consensus estimates and showcasing its potential as it develops treatments for immune-mediated diseases.

Affinity Asset Advisors LLC purchased a new position in shares of Climb Bio, Inc. (NASDAQ:CLYM - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 1,500,000 shares of the company's stock, valued at approximately $1,830,000. Affinity Asset Advisors LLC owned approximately 2.22% of Climb Bio as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. XTX Topco Ltd acquired a new position in Climb Bio during the 1st quarter worth about $34,000. Nuveen LLC acquired a new position in Climb Bio during the 1st quarter worth about $48,000. Bank of New York Mellon Corp acquired a new position in Climb Bio during the 1st quarter worth about $79,000. Charles Schwab Investment Management Inc. acquired a new position in Climb Bio during the 1st quarter worth about $86,000. Finally, TD Asset Management Inc bought a new position in Climb Bio in the first quarter valued at about $109,000. Institutional investors and hedge funds own 69.76% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. Robert W. Baird assumed coverage on Climb Bio in a report on Friday, August 15th. They set an "outperform" rating and a $9.00 price objective for the company. BTIG Research assumed coverage on Climb Bio in a report on Thursday, May 22nd. They set a "buy" rating for the company. Oppenheimer assumed coverage on Climb Bio in a report on Friday, June 6th. They set an "outperform" rating and a $10.00 price objective for the company. Finally, Baird R W raised Climb Bio to a "strong-buy" rating in a report on Friday, August 15th. Two research analysts have rated the stock with a Strong Buy rating and four have given a Buy rating to the company's stock. According to data from MarketBeat.com, Climb Bio presently has an average rating of "Buy" and an average price target of $9.00.

Climb Bio Stock Performance

CLYM traded up $0.01 during midday trading on Thursday, reaching $2.30. 241,295 shares of the company were exchanged, compared to its average volume of 874,945. Climb Bio, Inc. has a one year low of $1.05 and a one year high of $8.79. The stock has a market capitalization of $155.86 million, a P/E ratio of -3.29 and a beta of -0.11. The stock's 50-day simple moving average is $1.59 and its 200 day simple moving average is $1.40.

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

Climb Bio 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.