Renaissance Technologies LLC Lowers Holdings in Climb Bio, Inc. $CLYM

Key Points

• Renaissance Technologies cut its Climb Bio stake by 32.2% in the first quarter, selling 103,300 shares and retaining 217,300 shares worth approximately $1.49 million. Institutional investors collectively own 69.76% of the company.
• Climb Bio shares opened at $14.39, near their 52-week high of $14.55, and have risen 3.9%. The company reported a quarterly loss of $0.18 per share, beating analyst expectations of a $0.21 loss.
• Analyst sentiment remains broadly positive, with a consensus “Buy” rating and an average price target of $22.75, compared with recent analyst targets ranging from $20 to $35.

Renaissance Technologies LLC decreased its holdings in shares of Climb Bio, Inc. (NASDAQ:CLYM - Free Report) by 32.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 217,300 shares of the company's stock after selling 103,300 shares during the quarter. Renaissance Technologies LLC owned about 0.38% of Climb Bio worth $1,489,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. AQR Capital Management LLC purchased a new position in shares of Climb Bio during the 1st quarter worth $27,000. Goldman Sachs Group Inc. acquired a new position in Climb Bio in the first quarter valued at about $147,000. Marshall Wace LLP acquired a new position in Climb Bio in the second quarter valued at about $46,000. Qube Research & Technologies Ltd purchased a new position in Climb Bio during the second quarter worth about $43,000. Finally, Jane Street Group LLC purchased a new position in Climb Bio during the second quarter worth about $184,000. Hedge funds and other institutional investors own 69.76% of the company's stock.

Climb Bio Stock Up 3.9%

Climb Bio stock opened at $14.39 on Thursday. The firm has a market cap of $826.56 million, a PE ratio of -17.34 and a beta of 0.08. Climb Bio, Inc. has a 52-week low of $1.54 and a 52-week high of $14.55. The company's 50 day moving average is $12.53 and its two-hundred day moving average is $9.53.

Climb Bio (NASDAQ:CLYM - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.03. On average, equities research analysts anticipate that Climb Bio, Inc. will post -0.84 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on CLYM shares. Wall Street Zen upgraded shares of Climb Bio from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. Guggenheim assumed coverage on shares of Climb Bio in a report on Monday, June 8th. They issued a "buy" rating and a $35.00 target price for the company. Royal Bank Of Canada began coverage on Climb Bio in a research report on Monday, August 3rd. They issued an "outperform" rating and a $23.00 target price on the stock. Wedbush upped their price target on Climb Bio from $17.00 to $20.00 and gave the stock an "outperform" rating in a research note on Monday, July 27th. Finally, Truist Financial raised their price target on Climb Bio from $17.00 to $25.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $22.75.

Climb Bio 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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