Truist Financial Forecasts Strong Price Appreciation for Climb Bio (NASDAQ:CLYM) Stock

Climb Bio (NASDAQ:CLYM) had its price objective lifted by equities research analysts at Truist Financial from $17.00 to $25.00 in a report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price target points to a potential upside of 76.21% from the company’s previous close.

A number of other research analysts have also recently weighed in on the stock. Guggenheim began coverage on shares of Climb Bio in a report on Monday, June 8th. They issued a “buy” rating and a $35.00 price objective for the company. Robert W. Baird set a $21.00 price target on shares of Climb Bio in a research report on Wednesday, May 6th. Chardan Capital initiated coverage on shares of Climb Bio in a research note on Tuesday, May 5th. They issued a “buy” rating and a $22.00 price target for the company. Oppenheimer upped their price objective on Climb Bio from $10.00 to $18.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 21st. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Climb Bio in a research note on Friday, July 17th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $22.75.

Climb Bio Price Performance

Shares of Climb Bio stock opened at $14.19 on Friday. The business has a 50-day moving average of $12.30 and a 200 day moving average of $9.26. Climb Bio has a 12 month low of $1.54 and a 12 month high of $14.41. The stock has a market capitalization of $812.40 million, a price-to-earnings ratio of -18.37 and a beta of 0.08.

Climb Bio (NASDAQ:CLYM) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.03. Equities research analysts anticipate that Climb Bio will post -0.87 earnings per share for the current year.

Hedge Funds Weigh In On Climb Bio

Several large investors have recently bought and sold shares of the business. AQR Capital Management LLC acquired a new position in shares of Climb Bio in the first quarter valued at approximately $27,000. Qube Research & Technologies Ltd acquired a new stake in shares of Climb Bio during the second quarter worth $43,000. Virtu Financial LLC purchased a new position in Climb Bio in the 4th quarter valued at $43,000. Blair William & Co. IL purchased a new position in Climb Bio in the 4th quarter valued at $44,000. Finally, Marshall Wace LLP acquired a new position in Climb Bio in the 2nd quarter valued at $46,000. Hedge funds and other 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.