Climb Bio, Inc. $CLYM Shares Sold by JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. cut its stake in Climb Bio by 89.5% in Q3, selling 188,110 shares and leaving 22,012 shares worth about $44,000.
• Wall Street coverage is broadly positive with multiple new buy/strong-buy initiations and an average price target of $16.78 (three Strong Buy, eight Buy, one Sell).
• Climb Bio reported a quarterly loss of $0.26 per share (missing estimates), trades near $9.37 with a market cap of ~$447.6M, and institutions/hedge funds own about 69.8% of the stock.

JPMorgan Chase & Co. reduced its stake in Climb Bio, Inc. (NASDAQ:CLYM - Free Report) by 89.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,012 shares of the company's stock after selling 188,110 shares during the period. JPMorgan Chase & Co.'s holdings in Climb Bio were worth $44,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in CLYM. Shay Capital LLC increased its holdings in Climb Bio by 107.5% in the 2nd quarter. Shay Capital LLC now owns 415,000 shares of the company's stock valued at $515,000 after purchasing an additional 215,000 shares in the last quarter. Jane Street Group LLC acquired a new stake in Climb Bio in the 2nd quarter valued at $184,000. Goldman Sachs Group Inc. acquired a new stake in Climb Bio in the 1st quarter valued at $147,000. Susquehanna International Group LLP increased its holdings in Climb Bio by 128.4% in the 3rd quarter. Susquehanna International Group LLP now owns 142,450 shares of the company's stock valued at $286,000 after purchasing an additional 80,092 shares in the last quarter. Finally, Citizens Financial Group Inc. RI acquired a new stake in Climb Bio in the 3rd quarter valued at $92,000. 69.76% of the stock is currently owned by institutional investors and hedge funds.

Climb Bio Price Performance

Shares of Climb Bio stock opened at $9.37 on Wednesday. The business has a 50-day moving average of $7.05 and a 200-day moving average of $4.51. The company has a market capitalization of $447.60 million, a PE ratio of -10.53 and a beta of -0.21. Climb Bio, Inc. has a 1-year low of $1.13 and a 1-year high of $9.90.

Climb Bio (NASDAQ:CLYM - Get Free Report) last announced its earnings results on Thursday, March 5th. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.06). On average, equities analysts expect that Climb Bio, Inc. will post -1.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CLYM. Raymond James Financial began coverage on Climb Bio in a report on Tuesday, March 10th. They issued a "strong-buy" rating and a $25.00 price target for the company. Oppenheimer increased their price target on Climb Bio from $10.00 to $18.00 and gave the company an "outperform" rating in a report on Tuesday. Piper Sandler began coverage on Climb Bio in a report on Friday, February 13th. They issued an "overweight" rating for the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of Climb Bio in a report on Wednesday, January 21st. Finally, B. Riley Financial assumed coverage on Climb Bio in a report on Tuesday, March 24th. They issued a "buy" rating and a $26.00 price target for the company. Three equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Buy" and an average target price of $16.78.

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.

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