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 bought a new stake in shares of Climb Bio, Inc. (NASDAQ:CLYM - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 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 filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. XTX Topco Ltd purchased a new position in Climb Bio during the first quarter valued at $34,000. Nuveen LLC purchased a new position in Climb Bio during the first quarter valued at $48,000. Bank of New York Mellon Corp purchased a new position in Climb Bio during the first quarter valued at $79,000. Charles Schwab Investment Management Inc. purchased a new position in Climb Bio during the first quarter valued at $86,000. Finally, TD Asset Management Inc purchased a new position in shares of Climb Bio in the 1st quarter worth $109,000. 69.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on CLYM shares. Robert W. Baird started coverage on shares of Climb Bio in a research note on Friday, August 15th. They issued an "outperform" rating and a $9.00 price objective for the company. Oppenheimer started coverage on shares of Climb Bio in a research note on Friday, June 6th. They issued an "outperform" rating and a $10.00 price objective for the company. Baird R W raised shares of Climb Bio to a "strong-buy" rating in a research note on Friday, August 15th. Finally, BTIG Research started coverage on shares of Climb Bio in a research note on Thursday, May 22nd. They issued a "buy" rating for the company. Two analysts have rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $9.00.

Climb Bio Price Performance

Shares of Climb Bio stock traded down $0.07 during trading on Friday, hitting $2.23. The stock had a trading volume of 288,883 shares, compared to its average volume of 878,948. The firm's fifty day simple moving average is $1.61 and its 200-day simple moving average is $1.40. The stock has a market cap of $151.10 million, a PE ratio of -3.19 and a beta of -0.11. Climb Bio, Inc. has a 12 month low of $1.05 and a 12 month high of $8.79.

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