ADAR1 Capital Management LLC Sells 834,813 Shares of Climb Bio, Inc. $CLYM

Key Points

• ADAR1 Capital Management cut its Climb Bio stake by 58.3% in the first quarter, selling 834,813 shares and retaining 597,662 shares valued at approximately $4.1 million. Institutional investors and hedge funds collectively own 69.76% of the company.
• Climb Bio reported a quarterly loss of $0.20 per share, beating analysts’ expected loss of $0.26. Analysts project a full-year loss of $0.87 per share.
• Despite the stock’s 3.9% decline to $12.29, analyst sentiment remains positive, with an average “Buy” rating and a consensus price target of $22.00; recent targets range as high as $20.00.

ADAR1 Capital Management LLC trimmed its holdings in shares of Climb Bio, Inc. (NASDAQ:CLYM - Free Report) by 58.3% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 597,662 shares of the company's stock after selling 834,813 shares during the period. ADAR1 Capital Management LLC owned approximately 1.04% of Climb Bio worth $4,094,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. The Manufacturers Life Insurance Company lifted its position in shares of Climb Bio by 11.2% during the 1st quarter. The Manufacturers Life Insurance Company now owns 156,317 shares of the company's stock valued at $1,071,000 after acquiring an additional 15,700 shares during the period. Dimensional Fund Advisors LP acquired a new stake in Climb Bio in the first quarter worth $715,000. Hsbc Holdings PLC increased its stake in Climb Bio by 107.2% in the fourth quarter. Hsbc Holdings PLC now owns 24,744 shares of the company's stock valued at $99,000 after purchasing an additional 12,800 shares in the last quarter. Seven Fleet Capital Management LP bought a new stake in Climb Bio in the fourth quarter valued at $306,000. Finally, Virtu Financial LLC acquired a new position in shares of Climb Bio during the fourth quarter valued at about $43,000. Institutional investors and hedge funds own 69.76% of the company's stock.

Climb Bio Stock Down 3.9%

Climb Bio stock opened at $12.29 on Wednesday. Climb Bio, Inc. has a twelve month low of $1.36 and a twelve month high of $14.41. The firm has a 50 day moving average price of $12.12 and a 200-day moving average price of $8.86. The company has a market capitalization of $703.73 million, a P/E ratio of -15.76 and a beta of 0.07.

Climb Bio (NASDAQ:CLYM - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.26) by $0.06. Equities analysts expect that Climb Bio, Inc. will post -0.87 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on CLYM shares. Wall Street Zen raised Climb Bio from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Oppenheimer raised their price objective on Climb Bio from $10.00 to $18.00 and gave the company an "outperform" rating in a research note on Tuesday, April 21st. Weiss Ratings restated a "sell (d-)" rating on shares of Climb Bio in a report on Friday, July 17th. Mizuho began coverage on Climb Bio in a research report on Wednesday, April 15th. They set an "outperform" rating and a $18.00 target price on the stock. Finally, BTIG Research increased their target price on Climb Bio from $19.00 to $20.00 and gave the stock a "buy" rating in a report on Thursday, June 11th. Three investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $22.00.

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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