Climb Bio (NASDAQ:CLYM) Issues Quarterly Earnings Results

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

Climb Bio Stock Performance

Shares of NASDAQ:CLYM remained flat at $14.00 during midday trading on Friday. 910,257 shares of the company were exchanged, compared to its average volume of 1,067,371. The firm has a market cap of $801.64 million, a price-to-earnings ratio of -16.87 and a beta of 0.08. Climb Bio has a fifty-two week low of $1.54 and a fifty-two week high of $14.53. The stock’s fifty day moving average price is $12.36 and its two-hundred day moving average price is $9.30.

Analysts Set New Price Targets

A number of analysts recently weighed in on CLYM shares. Truist Financial increased their price target on shares of Climb Bio from $17.00 to $25.00 and gave the company a “buy” rating in a research report on Friday. Wedbush boosted their price objective on shares of Climb Bio from $17.00 to $20.00 and gave the company an “outperform” rating in a report on Monday, July 27th. Guggenheim assumed coverage on shares of Climb Bio in a research note on Monday, June 8th. They issued a “buy” rating and a $35.00 target price for the company. Royal Bank Of Canada began coverage on shares of Climb Bio in a report on Monday, August 3rd. They issued an “outperform” rating and a $23.00 target price on the stock. Finally, BTIG Research boosted their target price on Climb Bio from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, June 11th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $22.75.

Institutional Investors Weigh In On Climb Bio

Several institutional investors have recently bought and sold shares of CLYM. Virtu Financial LLC acquired a new position in Climb Bio during the fourth quarter worth $43,000. Blair William & Co. IL acquired a new stake in Climb Bio in the 4th quarter valued at $44,000. Balyasny Asset Management L.P. acquired a new stake in Climb Bio in the 4th quarter valued at $57,000. AQR Capital Management LLC bought a new stake in Climb Bio during the 1st quarter worth about $27,000. Finally, Hsbc Holdings PLC lifted its position in Climb Bio by 107.2% during the 4th quarter. Hsbc Holdings PLC now owns 24,744 shares of the company’s stock worth $99,000 after buying an additional 12,800 shares in the last quarter. 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.