Climb Bio (NASDAQ:CLYM) Upgraded by Royal Bank Of Canada to “Moderate Buy” Rating

Climb Bio (NASDAQ:CLYM) was upgraded by investment analysts at Royal Bank Of Canada to a “moderate buy” rating in a report issued on Monday,Zacks.com reports.

Several other research analysts have also issued reports on CLYM. Wedbush upped their target price on Climb Bio from $17.00 to $20.00 and gave the company an “outperform” rating in a research report on Monday, July 27th. Robert W. Baird set a $21.00 price target on Climb Bio in a report on Wednesday, May 6th. Mizuho began coverage on Climb Bio in a research note on Wednesday, April 15th. They set an “outperform” rating and a $18.00 price target on the stock. Wall Street Zen upgraded shares of Climb Bio from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Oppenheimer upped their price objective on shares of Climb Bio from $10.00 to $18.00 and gave the company an “outperform” rating in a report on Tuesday, April 21st. Three analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, Climb Bio presently has a consensus rating of “Buy” and an average price target of $22.08.

Climb Bio Trading Down 0.8%

Shares of CLYM stock opened at $11.81 on Monday. The business’s fifty day simple moving average is $12.22 and its 200-day simple moving average is $9.07. The company has a market cap of $676.24 million, a PE ratio of -15.14 and a beta of 0.08. Climb Bio has a 12-month low of $1.54 and a 12-month high of $14.41.

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

Hedge Funds Weigh In On Climb Bio

Several hedge funds have recently made changes to their positions in the company. Seven Fleet Capital Management LP raised its stake in Climb Bio by 71.0% in the 1st quarter. Seven Fleet Capital Management LP now owns 130,654 shares of the company’s stock worth $895,000 after acquiring an additional 54,254 shares during the last quarter. Bank of America Corp DE grew its stake in Climb Bio by 945.2% during the 1st 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 during the last quarter. The Manufacturers Life Insurance Company grew its stake in Climb Bio by 11.2% during the 1st 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 during the last quarter. Dimensional Fund Advisors LP acquired a new position in shares of Climb Bio in the first quarter valued at about $715,000. Finally, Hsbc Holdings PLC increased 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 during the period. 69.76% of the stock is owned by institutional investors and hedge funds.

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.