Climb Bio, Inc. (NASDAQ:CLYM) Receives Average Rating of “Moderate Buy” from Brokerages

Climb Bio, Inc. (NASDAQ:CLYM) has earned an average rating of “Moderate Buy” from the seven ratings firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $9.50.

Several analysts recently commented on the company. William Blair began coverage on Climb Bio in a research report on Thursday, October 16th. They set an “outperform” rating for the company. Wall Street Zen lowered shares of Climb Bio from a “hold” rating to a “strong sell” rating in a report on Saturday, November 8th. BTIG Research reissued a “buy” rating and issued a $8.00 price target on shares of Climb Bio in a research note on Thursday, October 16th. HC Wainwright boosted their price target on shares of Climb Bio from $9.00 to $11.00 and gave the stock a “buy” rating in a research report on Thursday, December 18th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Climb Bio in a report on Wednesday, October 8th.

Climb Bio Stock Up 11.9%

Climb Bio stock opened at $4.22 on Monday. The firm has a market cap of $287.72 million, a P/E ratio of -5.55 and a beta of -0.16. The business has a fifty day moving average of $3.10 and a two-hundred day moving average of $2.31. Climb Bio has a twelve month low of $1.05 and a twelve month high of $5.19.

Climb Bio (NASDAQ:CLYM) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.03). Equities analysts expect that Climb Bio will post -1.57 earnings per share for the current year.

Insider Buying and Selling

In other Climb Bio news, Director Ra Capital Management, L.P. acquired 213,099 shares of the stock in a transaction dated Thursday, December 11th. The stock was acquired at an average price of $2.18 per share, with a total value of $464,555.82. Following the completion of the purchase, the director owned 3,294,856 shares in the company, valued at $7,182,786.08. This trade represents a 6.91% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders acquired 321,672 shares of company stock worth $779,626 in the last 90 days. 0.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Climb Bio

A number of institutional investors and hedge funds have recently bought and sold shares of CLYM. Vanguard Personalized Indexing Management LLC purchased a new stake in Climb Bio during the third quarter worth approximately $29,000. AQR Capital Management LLC acquired a new position in shares of Climb Bio during the 1st quarter valued at $27,000. Qube Research & Technologies Ltd acquired a new position in shares of Climb Bio during the 2nd quarter valued at $43,000. Marshall Wace LLP purchased a new stake in Climb Bio during the 2nd quarter worth $46,000. Finally, Prelude Capital Management LLC acquired a new stake in Climb Bio in the 3rd quarter valued at $82,000. 69.76% of the stock is owned by hedge funds and other institutional investors.

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.