Climb Bio (NASDAQ:CLYM) Price Target Raised to $30.00

Climb Bio (NASDAQ:CLYM) had its price objective raised by HC Wainwright from $24.00 to $30.00 in a research report report published on Tuesday, MarketBeat Ratings reports. The firm currently has a buy rating on the stock.

Several other analysts have also issued reports on CLYM. Truist Financial upped their target price on Climb Bio from $17.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Climb Bio in a research note on Friday, July 17th. Wedbush reaffirmed an “outperform” rating and set a $20.00 price target on shares of Climb Bio in a research report on Wednesday, August 19th. Royal Bank Of Canada began coverage on Climb Bio in a research note on Monday, August 3rd. They set an “outperform” rating and a $23.00 price objective on the stock. Finally, BTIG Research upped their price objective on Climb Bio from $20.00 to $32.00 and gave the stock a “buy” rating in a research note on Thursday, September 3rd. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $26.92.

Climb Bio Trading Down 0.7%

Shares of CLYM stock opened at $14.95 on Tuesday. Climb Bio has a 1 year low of $1.54 and a 1 year high of $18.33. The firm’s fifty day moving average price is $14.21 and its two-hundred day moving average price is $11.10. The firm has a market capitalization of $858.73 million, a P/E ratio of -18.01 and a beta of 0.09.

Climb Bio (NASDAQ:CLYM) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.03. As a group, equities research analysts forecast that Climb Bio will post -0.78 EPS for the current fiscal year.

Institutional Investors Weigh In On Climb Bio

Institutional investors and hedge funds have recently modified their holdings of the company. Braidwell LP grew its holdings in Climb Bio by 102.6% during the second quarter. Braidwell LP now owns 3,099,027 shares of the company’s stock worth $40,411,000 after purchasing an additional 1,569,352 shares during the period. MPM Bioimpact LLC bought a new stake in Climb Bio in the fourth quarter valued at approximately $10,686,000. BlackRock Inc. acquired a new stake in shares of Climb Bio in the second quarter valued at approximately $30,708,000. Price T Rowe Associates Inc. MD lifted its position in shares of Climb Bio by 265.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,923,639 shares of the company’s stock valued at $7,695,000 after buying an additional 1,396,722 shares during the last quarter. Finally, ADAR1 Capital Management LLC boosted its stake in shares of Climb Bio by 972.8% during the 4th quarter. ADAR1 Capital Management LLC now owns 1,432,475 shares of the company’s stock worth $5,730,000 after acquiring an additional 1,298,945 shares during the period. 69.76% of the stock is owned by 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.