ADAR1 Capital Management LLC Makes New Investment in Climb Bio, Inc. $CLYM

Key Points

• ADAR1 Capital Management acquired 822,649 Climb Bio shares worth approximately $10.7 million, representing about 1.43% of the company. Institutional investors now own 69.76% of Climb Bio.
• Analysts remain broadly bullish, with a consensus “Buy” rating and an average price target of $23.08. Recent targets range from $20 to $24.
• Climb Bio shares opened at $17.84, near their 52-week high of $18.33, while the company reported a quarterly loss of $0.18 per share—better than the expected $0.21 loss.

ADAR1 Capital Management LLC acquired a new position in shares of Climb Bio, Inc. (NASDAQ:CLYM - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 822,649 shares of the company's stock, valued at approximately $10,727,000. ADAR1 Capital Management LLC owned approximately 1.43% of Climb Bio at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. MPM Bioimpact LLC bought a new position in Climb Bio during the fourth quarter valued at $10,686,000. BlackRock Inc. purchased a new position in shares of Climb Bio in the 2nd quarter worth $30,708,000. Price T Rowe Associates Inc. MD increased its holdings 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 during the last quarter. Parkman Healthcare Partners LLC bought a new stake in shares of Climb Bio in the 2nd quarter worth about $7,348,000. Finally, Sphera Funds Management LTD. raised its position in shares of Climb Bio by 114.4% during the 4th quarter. Sphera Funds Management LTD. now owns 932,247 shares of the company's stock valued at $3,729,000 after buying an additional 497,410 shares in the last quarter. 69.76% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Chardan Capital began coverage on shares of Climb Bio in a report on Tuesday, May 5th. They issued a "buy" rating and a $22.00 price target for the company. Wall Street Zen raised Climb Bio from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. Royal Bank Of Canada initiated coverage on Climb Bio in a research report on Monday, August 3rd. They set an "outperform" rating and a $23.00 price objective on the stock. BTIG Research raised their price objective on Climb Bio from $19.00 to $20.00 and gave the company a "buy" rating in a research note on Thursday, June 11th. Finally, HC Wainwright lifted their target price on Climb Bio from $20.00 to $24.00 and gave the stock a "buy" rating in a report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $23.08.

Climb Bio Price Performance

Climb Bio stock opened at $17.84 on Wednesday. Climb Bio, Inc. has a 1-year low of $1.54 and a 1-year high of $18.33. The firm has a market capitalization of $1.02 billion, a P/E ratio of -21.49 and a beta of 0.08. The company's 50-day moving average is $13.59 and its 200 day moving average is $10.29.

Climb Bio (NASDAQ:CLYM - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.03. Research analysts anticipate that Climb Bio, Inc. will post -0.84 earnings per share for the current fiscal year.

Climb Bio Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source