BlackRock Inc. purchased a new position in shares of Climb Bio, Inc. (NASDAQ:CLYM - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,354,872 shares of the company's stock, valued at approximately $30,708,000. BlackRock Inc. owned approximately 4.11% of Climb Bio at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Virtu Financial LLC acquired a new position in Climb Bio in the 4th quarter valued at $43,000. Blair William & Co. IL acquired a new stake in shares of Climb Bio during the 4th quarter worth $44,000. Balyasny Asset Management L.P. acquired a new stake in shares of Climb Bio during the 4th quarter worth $57,000. State of Wyoming bought a new position in shares of Climb Bio in the second quarter worth $187,000. Finally, AQR Capital Management LLC bought a new position in shares of Climb Bio in the first quarter worth $27,000. Institutional investors own 69.76% of the company's stock.
Climb Bio Stock Up 7.9%
Shares of CLYM opened at $14.82 on Wednesday. Climb Bio, Inc. has a 12-month low of $1.54 and a 12-month high of $18.33. The business has a 50-day simple moving average of $13.90 and a two-hundred day simple moving average of $10.62. The stock has a market cap of $851.26 million, a PE ratio of -17.86 and a beta of 0.09.
Climb Bio (NASDAQ:CLYM - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.18) EPS for the quarter, beating analysts' consensus estimates of ($0.21) by $0.03. On average, equities research analysts expect that Climb Bio, Inc. will post -0.82 EPS for the current year.
Analyst Upgrades and Downgrades
A number of research analysts recently commented on CLYM shares. Royal Bank Of Canada initiated coverage on Climb Bio in a research note on Monday, August 3rd. They issued an "outperform" rating and a $23.00 price target for the company. BTIG Research raised their target price on shares of Climb Bio from $19.00 to $20.00 and gave the company a "buy" rating in a report on Thursday, June 11th. Robert W. Baird set a $21.00 target price on shares of Climb Bio in a research report on Wednesday, May 6th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Climb Bio in a report on Friday, July 17th. Finally, Wall Street Zen upgraded shares of Climb Bio from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $23.08.
Check Out Our Latest Report on Climb Bio
About Climb Bio
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding CLYM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Climb Bio, Inc. (NASDAQ:CLYM - Free Report).
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