RA Capital Management L.P. Takes Position in Climb Bio, Inc. $CLYM

RA Capital Management L.P. bought a new stake in Climb Bio, Inc. (NASDAQ:CLYM) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 31,419,267 shares of the company’s stock, valued at approximately $38,332,000. Climb Bio accounts for about 0.6% of RA Capital Management L.P.’s investment portfolio, making the stock its 28th biggest holding. RA Capital Management L.P. owned approximately 0.46% of Climb Bio as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Affinity Asset Advisors LLC bought a new stake in shares of Climb Bio in the 1st quarter valued at about $1,830,000. Persistent Asset Partners Ltd bought a new stake in shares of Climb Bio in the 1st quarter valued at about $178,000. Nuveen LLC bought a new stake in shares of Climb Bio in the 1st quarter valued at about $48,000. Charles Schwab Investment Management Inc. bought a new stake in shares of Climb Bio in the 1st quarter valued at about $86,000. Finally, XTX Topco Ltd bought a new position in Climb Bio in the 1st quarter valued at about $34,000. 69.76% of the stock is owned by institutional investors.

Climb Bio Price Performance

Shares of Climb Bio stock opened at $2.23 on Tuesday. Climb Bio, Inc. has a fifty-two week low of $1.05 and a fifty-two week high of $8.79. The firm has a market capitalization of $151.10 million, a P/E ratio of -3.19 and a beta of -0.05. The company’s 50 day moving average price is $1.63 and its two-hundred day moving average price is $1.41.

Climb Bio (NASDAQ:CLYM) last issued its earnings results on Tuesday, August 12th. The company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.06. On average, analysts expect that Climb Bio, Inc. will post -1.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CLYM shares. Oppenheimer started coverage on shares of Climb Bio in a report on Friday, June 6th. They issued an “outperform” rating and a $10.00 price target on the stock. Baird R W raised shares of Climb Bio to a “strong-buy” rating in a report on Friday, August 15th. BTIG Research started coverage on shares of Climb Bio in a report on Thursday, May 22nd. They issued a “buy” rating on the stock. Finally, Robert W. Baird started coverage on shares of Climb Bio in a report on Friday, August 15th. They issued an “outperform” rating and a $9.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating and four have issued a Buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $9.00.

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.