Wall Street Zen Upgrades Climb Bio (NASDAQ:CLYM) to “Hold”

Climb Bio (NASDAQ:CLYM) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday.

Several other brokerages also recently issued reports on CLYM. BTIG Research lifted their target price on Climb Bio from $8.00 to $19.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Mizuho initiated coverage on Climb Bio in a research note on Wednesday, April 15th. They set an “outperform” rating and a $18.00 target price on the stock. Chardan Capital initiated coverage on Climb Bio in a research note on Tuesday, May 5th. They set a “buy” rating and a $22.00 target price on the stock. Raymond James Financial initiated coverage on Climb Bio in a research note on Tuesday, March 10th. They set a “strong-buy” rating and a $25.00 target price on the stock. Finally, HC Wainwright lifted their target price on Climb Bio from $11.00 to $15.00 and gave the company a “buy” rating in a research note on Tuesday, March 10th. Three equities 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. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $19.80.

Climb Bio Price Performance

NASDAQ CLYM opened at $11.37 on Friday. The stock’s 50-day moving average price is $7.90 and its 200-day moving average price is $5.08. Climb Bio has a 52 week low of $1.13 and a 52 week high of $12.48. The company has a market capitalization of $651.05 million, a P/E ratio of -14.58 and a beta of 0.02.

Climb Bio (NASDAQ:CLYM) last issued its 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. Research analysts anticipate that Climb Bio will post -1.07 EPS for the current year.

Hedge Funds Weigh In On Climb Bio

Several institutional investors have recently added to or reduced their stakes in CLYM. AQR Capital Management LLC purchased a new position in Climb Bio during the 1st quarter valued at approximately $27,000. Goldman Sachs Group Inc. purchased a new position in shares of Climb Bio in the 1st quarter worth approximately $147,000. Marshall Wace LLP purchased a new position in shares of Climb Bio in the 2nd quarter worth approximately $46,000. Qube Research & Technologies Ltd purchased a new position in shares of Climb Bio in the 2nd quarter worth approximately $43,000. Finally, Jane Street Group LLC purchased a new position in shares of Climb Bio in the 2nd quarter worth approximately $184,000. 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.