RA Capital Management L.P. Invests $38.33 Million in Climb Bio, Inc. $CLYM

Key Points

• RA Capital Management L.P. has acquired approximately 31.4 million shares of Climb Bio, valued at about $38.3 million, which makes up 0.6% of its portfolio.
• Climb Bio's stock price opened at $2.23 and has seen significant fluctuations, with a 12-month low of $1.05 and a high of $8.79.
• Research analysts have rated Climb Bio with a consensus of "Buy" and a target price of $9.00, indicating potential bullish sentiment for the stock.

RA Capital Management L.P. bought a new position in Climb Bio, Inc. (NASDAQ:CLYM - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 31,419,267 shares of the company's stock, valued at approximately $38,332,000. Climb Bio makes up approximately 0.6% of RA Capital Management L.P.'s investment portfolio, making the stock its 28th biggest holding. RA Capital Management L.P. owned about 46.49% of Climb Bio as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in CLYM. Affinity Asset Advisors LLC bought a new position in shares of Climb Bio during the 1st quarter valued at $1,830,000. Peapod Lane Capital LLC purchased a new stake in shares of Climb Bio in the 1st quarter worth about $676,000. Persistent Asset Partners Ltd bought a new stake in Climb Bio during the first quarter worth about $178,000. TD Asset Management Inc bought a new stake in Climb Bio during the first quarter worth about $109,000. Finally, Charles Schwab Investment Management Inc. purchased a new position in Climb Bio in the first quarter worth about $86,000. Institutional investors own 69.76% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on CLYM shares. Robert W. Baird began coverage on shares of Climb Bio in a report on Friday, August 15th. They issued an "outperform" rating and a $9.00 target price for the company. BTIG Research assumed coverage on shares of Climb Bio in a research note on Thursday, May 22nd. They issued a "buy" rating for the company. Oppenheimer assumed coverage on shares of Climb Bio in a research note on Friday, June 6th. They issued an "outperform" rating and a $10.00 price objective for the company. Finally, Baird R W upgraded shares of Climb Bio to a "strong-buy" rating in a research report on Friday, August 15th. Two analysts have rated the stock with a Strong Buy rating and four have given a Buy rating to the company. According to MarketBeat.com, Climb Bio has an average rating of "Buy" and a consensus target price of $9.00.

Climb Bio Price Performance

Shares of Climb Bio stock traded up $0.06 during trading on Friday, hitting $2.39. The stock had a trading volume of 646,277 shares, compared to its average volume of 607,781. The firm's fifty day simple moving average is $1.72 and its 200-day simple moving average is $1.43. The stock has a market cap of $161.95 million, a PE ratio of -3.41 and a beta of -0.05. Climb Bio, Inc. has a 12 month low of $1.05 and a 12 month high of $8.79.

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

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.