Allostery Investments LP Invests $299,000 in Climb Bio, Inc. $CLYM

Key Points

• Allostery Investments LP has acquired a $299,000 position in Climb Bio, purchasing 244,988 shares, representing approximately 0.36% of the company.
• Climb Bio has recently reported earnings that exceeded expectations, posting an EPS of ($0.13), which is better than the consensus estimate of ($0.19).
• Research analysts maintain a consensus rating of "Buy" for Climb Bio, with a consensus price target of $9.00 per share.

Allostery Investments LP purchased a new position in shares of Climb Bio, Inc. (NASDAQ:CLYM - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 244,988 shares of the company's stock, valued at approximately $299,000. Allostery Investments LP owned approximately 0.36% of Climb Bio as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. RA Capital Management L.P. bought a new stake in shares of Climb Bio during the 1st quarter valued at about $38,332,000. Affinity Asset Advisors LLC bought a new stake in Climb Bio during the first quarter valued at $1,830,000. Peapod Lane Capital LLC purchased a new stake in Climb Bio during the first quarter valued at about $676,000. Persistent Asset Partners Ltd purchased a new stake in Climb Bio during the first quarter valued at about $178,000. Finally, ADAR1 Capital Management LLC purchased a new position in shares of Climb Bio in the first quarter worth about $146,000. Institutional investors and hedge funds own 69.76% of the company's stock.

Climb Bio Stock Up 2.9%

Climb Bio stock traded up $0.07 during mid-day trading on Monday, reaching $2.46. 431,789 shares of the company's stock were exchanged, compared to its average volume of 359,768. Climb Bio, Inc. has a twelve month low of $1.05 and a twelve month high of $8.79. The company has a fifty day moving average of $1.72 and a 200-day moving average of $1.43. The company has a market cap of $166.69 million, a P/E ratio of -3.51 and a beta of -0.05.

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

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Robert W. Baird began coverage on Climb Bio in a research report on Friday, August 15th. They issued an "outperform" rating and a $9.00 price target on the stock. BTIG Research initiated coverage on Climb Bio in a research report on Thursday, May 22nd. They issued a "buy" rating for the company. Oppenheimer began coverage on shares of Climb Bio in a research note on Friday, June 6th. They set an "outperform" rating and a $10.00 price target for the company. Finally, Baird R W raised shares of Climb Bio to a "strong-buy" rating in a report on Friday, August 15th. Two equities research analysts have rated the stock with a Strong Buy rating and four have issued a Buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $9.00.

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.