Climb Bio (NASDAQ:CLYM) Price Target Raised to $19.00

Climb Bio (NASDAQ:CLYM) had its price objective increased by BTIG Research from $8.00 to $19.00 in a research report released on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts have also recently issued reports about the company. B. Riley Financial assumed coverage on Climb Bio in a research report on Tuesday, March 24th. They set a “buy” rating and a $26.00 price objective on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Climb Bio in a research report on Monday, April 20th. HC Wainwright upped their target price on shares of Climb Bio from $11.00 to $15.00 and gave the company a “buy” rating in a research note on Tuesday, March 10th. Wedbush started coverage on shares of Climb Bio in a research note on Thursday, March 5th. They issued an “outperform” rating and a $12.00 price target for the company. Finally, Oppenheimer boosted their price objective on shares of Climb Bio from $10.00 to $18.00 and gave the company an “outperform” rating in a report on Tuesday, April 21st. Three research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $19.80.

Climb Bio Stock Down 4.5%

Shares of CLYM stock opened at $11.37 on Wednesday. The firm has a market cap of $543.14 million, a P/E ratio of -14.58 and a beta of 0.02. Climb Bio has a 12-month low of $1.13 and a 12-month high of $12.48. The business has a 50-day moving average price of $7.90 and a two-hundred day moving average price of $5.08.

Climb Bio (NASDAQ:CLYM) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.06. As a group, research analysts expect that Climb Bio will post -1.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Peapod Lane Capital LLC increased its position in Climb Bio by 0.7% during the 4th quarter. Peapod Lane Capital LLC now owns 565,992 shares of the company’s stock valued at $2,264,000 after purchasing an additional 4,126 shares during the period. XTX Topco Ltd lifted its position in shares of Climb Bio by 19.4% in the 4th quarter. XTX Topco Ltd now owns 34,852 shares of the company’s stock worth $139,000 after purchasing an additional 5,668 shares during the period. Virtu Financial LLC bought a new position in shares of Climb Bio during the fourth quarter valued at approximately $43,000. Blair William & Co. IL bought a new position in shares of Climb Bio during the fourth quarter valued at approximately $44,000. Finally, Hsbc Holdings PLC lifted its stake in shares of Climb Bio by 107.2% during the 4th quarter. Hsbc Holdings PLC now owns 24,744 shares of the company’s stock worth $99,000 after purchasing an additional 12,800 shares during the last quarter. Institutional investors own 69.76% of the company’s stock.

About Climb Bio

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.