Climb Bio (NASDAQ:CLYM) Upgraded to Strong-Buy at Guggenheim

Climb Bio (NASDAQ:CLYM) was upgraded by investment analysts at Guggenheim to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.

A number of other brokerages have also recently weighed in on CLYM. Wall Street Zen upgraded Climb Bio from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. BTIG Research reiterated a “buy” rating and issued a $19.00 price target on shares of Climb Bio in a research report on Monday. Robert W. Baird set a $21.00 price target on Climb Bio in a research report on Wednesday, May 6th. B. Riley Financial started coverage on Climb Bio in a research report on Tuesday, March 24th. They issued a “buy” rating and a $26.00 price target on the stock. Finally, HC Wainwright upped their price target on Climb Bio from $15.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Four analysts have rated the stock with a Strong Buy rating, nine have given 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 a consensus target price of $21.64.

Climb Bio Price Performance

CLYM opened at $10.77 on Monday. Climb Bio has a fifty-two week low of $1.16 and a fifty-two week high of $12.48. The firm’s fifty day moving average price is $9.62 and its two-hundred day moving average price is $6.47. The company has a market capitalization of $616.69 million, a P/E ratio of -13.81 and a beta of 0.09.

Climb Bio (NASDAQ:CLYM) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.20) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.06. On average, equities research analysts expect that Climb Bio will post -0.87 EPS for the current fiscal year.

Institutional Trading of Climb Bio

Several large investors have recently made changes to their positions in the business. MPM Bioimpact LLC bought a new stake in shares of Climb Bio during the fourth quarter worth $10,686,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Climb Bio by 265.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,923,639 shares of the company’s stock worth $7,695,000 after purchasing an additional 1,396,722 shares during the last quarter. ADAR1 Capital Management LLC grew its holdings in shares of Climb Bio by 972.8% during the fourth quarter. ADAR1 Capital Management LLC now owns 1,432,475 shares of the company’s stock worth $5,730,000 after purchasing an additional 1,298,945 shares during the last quarter. Sphera Funds Management LTD. grew its holdings in shares of Climb Bio by 114.4% during the fourth quarter. Sphera Funds Management LTD. now owns 932,247 shares of the company’s stock worth $3,729,000 after purchasing an additional 497,410 shares during the last quarter. Finally, Peapod Lane Capital LLC grew its holdings in shares of Climb Bio by 0.7% during the fourth quarter. Peapod Lane Capital LLC now owns 565,992 shares of the company’s stock worth $2,264,000 after purchasing an additional 4,126 shares during the last quarter. Institutional investors own 69.76% of the company’s stock.

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.