Climb Bio (NASDAQ:CLYM) Upgraded to Strong-Buy at Guggenheim

Guggenheim upgraded shares of Climb Bio (NASDAQ:CLYM) to a strong-buy rating in a report issued on Monday,Zacks.com reports.

CLYM has been the subject of a number of other research reports. Mizuho started coverage on Climb Bio in a research report on Wednesday, April 15th. They set an “outperform” rating and a $18.00 price objective for the company. Raymond James Financial started coverage on Climb Bio in a research report on Tuesday, March 10th. They set a “strong-buy” rating and a $25.00 price objective for the company. Oppenheimer increased their price objective on Climb Bio from $10.00 to $18.00 and gave the company an “outperform” rating in a research report on Tuesday, April 21st. BTIG Research reiterated a “buy” rating and set a $19.00 price objective on shares of Climb Bio in a research report on Monday. Finally, Wall Street Zen upgraded Climb Bio from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Four equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $21.64.

Climb Bio Stock Performance

Shares of NASDAQ CLYM opened at $10.77 on Monday. The stock has a fifty day moving average price of $9.62 and a two-hundred day moving average price of $6.47. The firm has a market cap of $616.69 million, a P/E ratio of -13.81 and a beta of 0.09. Climb Bio has a 1 year low of $1.16 and a 1 year high of $12.48.

Climb Bio (NASDAQ:CLYM) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.20) EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.06. On average, research analysts predict that Climb Bio will post -0.87 earnings per share for the current fiscal year.

Institutional Trading of Climb Bio

A number of hedge funds have recently modified their holdings of the business. Seven Fleet Capital Management LP lifted its holdings in shares of Climb Bio by 71.0% in the first quarter. Seven Fleet Capital Management LP now owns 130,654 shares of the company’s stock valued at $895,000 after purchasing an additional 54,254 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Climb Bio by 945.2% in the first quarter. Bank of America Corp DE now owns 52,921 shares of the company’s stock valued at $363,000 after purchasing an additional 47,858 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Climb Bio by 11.2% in the first quarter. The Manufacturers Life Insurance Company now owns 156,317 shares of the company’s stock valued at $1,071,000 after purchasing an additional 15,700 shares in the last quarter. Dimensional Fund Advisors LP purchased a new stake in shares of Climb Bio in the first quarter valued at $715,000. Finally, Hsbc Holdings PLC lifted its holdings in shares of Climb Bio by 107.2% in the fourth quarter. Hsbc Holdings PLC now owns 24,744 shares of the company’s stock valued at $99,000 after purchasing an additional 12,800 shares in the last quarter. Hedge funds and other institutional investors own 69.76% of the company’s stock.

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.