Climb Bio (NASDAQ:CLYM) Releases Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Climb Bio (NASDAQ:CLYM) posted its earnings results on Thursday. The company reported ($0.18) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.03, FiscalAI reports.

Climb Bio Stock Performance

NASDAQ:CLYM remained flat at $14.00 during trading hours on Friday. 910,257 shares of the company’s stock traded hands, compared to its average volume of 1,067,371. The company has a market capitalization of $801.64 million, a P/E ratio of -16.87 and a beta of 0.08. The firm has a fifty day simple moving average of $12.36 and a 200 day simple moving average of $9.30. Climb Bio has a one year low of $1.54 and a one year high of $14.53.

Analyst Ratings Changes

Several equities analysts have weighed in on CLYM shares. Guggenheim started coverage on Climb Bio in a research report on Monday, June 8th. They set a “buy” rating and a $35.00 price target for the company. Robert W. Baird set a $21.00 price objective on Climb Bio in a research report on Wednesday, May 6th. BTIG Research increased their price objective on Climb Bio from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, June 11th. Oppenheimer boosted their target price on shares of Climb Bio from $10.00 to $18.00 and gave the company an “outperform” rating in a research note on Tuesday, April 21st. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Climb Bio in a report 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 issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $22.75.

Institutional Investors Weigh In On Climb Bio

Institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC bought a new stake in Climb Bio during the first quarter valued at $27,000. Qube Research & Technologies Ltd acquired a new stake in shares of Climb Bio during the 2nd quarter worth approximately $43,000. Virtu Financial LLC bought a new stake in shares of Climb Bio in the 4th quarter worth approximately $43,000. Blair William & Co. IL acquired a new position in Climb Bio during the 4th quarter valued at approximately $44,000. Finally, Marshall Wace LLP bought a new position in Climb Bio during the 2nd quarter worth $46,000. Institutional investors and hedge funds 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.