Climb Bio, Inc. (NASDAQ:CLYM) Receives $22.00 Consensus Target Price from Analysts

Shares of Climb Bio, Inc. (NASDAQ:CLYM) have been given a consensus recommendation of “Buy” by the fifteen analysts that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, eleven have assigned a buy recommendation and three have assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $22.0833.

A number of analysts have recently commented on the company. Chardan Capital started coverage on Climb Bio in a research note on Tuesday, May 5th. They issued a “buy” rating and a $22.00 price target for the company. HC Wainwright reissued a “buy” rating and set a $20.00 price target on shares of Climb Bio in a research report on Wednesday, June 24th. Wall Street Zen raised Climb Bio from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. BTIG Research increased their price target on Climb Bio from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, June 11th. Finally, Royal Bank Of Canada began coverage on Climb Bio in a research note on Monday. They set an “outperform” rating and a $23.00 target price for the company.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp bought a new position in Climb Bio in the second quarter valued at $1,613,000. State of Wyoming acquired a new position in shares of Climb Bio during the 2nd quarter worth about $187,000. Seven Fleet Capital Management LP grew its holdings in shares of Climb Bio by 71.0% in the 1st quarter. Seven Fleet Capital Management LP now owns 130,654 shares of the company’s stock valued at $895,000 after acquiring an additional 54,254 shares in the last quarter. Bank of America Corp DE increased its position in shares of Climb Bio by 945.2% in the first quarter. Bank of America Corp DE now owns 52,921 shares of the company’s stock valued at $363,000 after acquiring an additional 47,858 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in Climb Bio by 11.2% during the first 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. Institutional investors and hedge funds own 69.76% of the company’s stock.

Climb Bio Stock Performance

Shares of CLYM stock opened at $14.00 on Friday. Climb Bio has a 52-week low of $1.54 and a 52-week high of $14.41. The stock has a market cap of $801.64 million, a PE ratio of -17.95 and a beta of 0.08. The firm’s 50 day moving average price is $12.30 and its two-hundred day moving average price is $9.26.

Climb Bio (NASDAQ:CLYM) last issued its earnings results on Thursday, August 6th. The company reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.21) by $0.03. As a group, sell-side analysts predict that Climb Bio will post -0.87 earnings per share for the current fiscal year.

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.