Climb Bio, Inc. (NASDAQ:CLYM) Given Average Recommendation of “Buy” by Brokerages

Climb Bio, Inc. (NASDAQ:CLYM) has earned an average rating of “Buy” from the seven analysts that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, four have assigned a buy rating and two have given a strong buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $9.25.

CLYM has been the topic of a number of research analyst reports. Robert W. Baird initiated 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 on the stock. Baird R W raised shares of Climb Bio to a “strong-buy” rating in a research note on Friday, August 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Climb Bio in a research note on Wednesday. Wall Street Zen raised shares of Climb Bio from a “sell” rating to a “hold” rating in a research note on Monday, October 6th. Finally, BTIG Research lifted their price target on shares of Climb Bio from $7.00 to $8.00 and gave the company a “buy” rating in a research note on Tuesday, September 30th.

Climb Bio Price Performance

Shares of NASDAQ CLYM opened at $1.80 on Friday. The stock has a market capitalization of $121.97 million, a price-to-earnings ratio of -2.57 and a beta of -0.07. Climb Bio has a 12 month low of $1.05 and a 12 month high of $5.47. The firm’s 50 day simple moving average is $2.08 and its 200-day simple moving average is $1.56.

Climb Bio (NASDAQ:CLYM) last issued its quarterly earnings data on Tuesday, August 12th. The company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.06. Analysts anticipate that Climb Bio will post -1.57 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CLYM. AQR Capital Management LLC purchased a new position in Climb Bio in the 1st quarter valued at $27,000. XTX Topco Ltd purchased a new position in Climb Bio in the 1st quarter valued at $34,000. Qube Research & Technologies Ltd purchased a new position in Climb Bio in the 2nd quarter valued at $43,000. Marshall Wace LLP purchased a new position in Climb Bio in the 2nd quarter valued at $46,000. Finally, Nuveen LLC purchased a new position in Climb Bio in the 1st quarter valued at $48,000. Hedge funds and other institutional investors own 69.76% of the company’s stock.

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.