Climb Bio (NASDAQ:CLYM) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Climb Bio (NASDAQ:CLYM) from a sell rating to a hold rating in a research note released on Saturday.

Several other research analysts have also commented on the stock. Oppenheimer initiated coverage on shares of Climb Bio in a report on Friday, June 6th. They issued an “outperform” rating and a $10.00 price objective for the company. Robert W. Baird started coverage on shares of Climb Bio in a research note on Friday, August 15th. They issued an “outperform” rating and a $9.00 price target for the company. Finally, Baird R W upgraded 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. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $9.00.

Climb Bio Stock Performance

NASDAQ CLYM opened at $2.32 on Friday. The stock has a market cap of $157.20 million, a P/E ratio of -3.31 and a beta of -0.05. Climb Bio has a fifty-two week low of $1.05 and a fifty-two week high of $8.58. The stock has a 50 day simple moving average of $1.93 and a two-hundred day simple moving average of $1.50.

Climb Bio (NASDAQ:CLYM) last posted its earnings results on Tuesday, August 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.06. Sell-side analysts predict that Climb Bio will post -1.57 earnings per share for the current year.

Hedge Funds Weigh In On Climb Bio

Large investors have recently made changes to their positions in the business. AQR Capital Management LLC bought a new stake in shares of Climb Bio in the 1st quarter worth approximately $27,000. XTX Topco Ltd purchased a new position in Climb Bio during the first quarter valued at $34,000. Qube Research & Technologies Ltd bought a new position in shares of Climb Bio during the second quarter valued at $43,000. Marshall Wace LLP bought a new position in shares of Climb Bio during the second quarter valued at $46,000. Finally, Nuveen LLC bought a new position in Climb Bio in the 1st quarter worth about $48,000. 69.76% of the stock is currently owned by hedge funds and other institutional investors.

About Climb Bio

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.