Parkman Healthcare Partners LLC Takes $7.35 Million Position in Climb Bio, Inc. $CLYM

Parkman Healthcare Partners LLC acquired a new position in Climb Bio, Inc. (NASDAQ:CLYM) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 563,484 shares of the company’s stock, valued at approximately $7,348,000. Parkman Healthcare Partners LLC owned 0.98% of Climb Bio at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. AQR Capital Management LLC acquired a new position in Climb Bio during the first quarter valued at $27,000. Virtu Financial LLC acquired a new stake in Climb Bio during the 4th quarter worth about $43,000. Qube Research & Technologies Ltd acquired a new stake in Climb Bio during the 2nd quarter worth about $43,000. Blair William & Co. IL acquired a new stake in Climb Bio during the 4th quarter worth about $44,000. Finally, Legal & General Group Plc purchased a new position in shares of Climb Bio during the 2nd quarter valued at about $45,000. Hedge funds and other institutional investors own 69.76% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CLYM shares. Royal Bank Of Canada assumed coverage on Climb Bio in a report on Monday, August 3rd. They issued an “outperform” rating and a $23.00 price objective for the company. BTIG Research raised their target price on Climb Bio from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, June 11th. Robert W. Baird set a $21.00 price target on Climb Bio in a research report on Wednesday, May 6th. Truist Financial boosted their price target on Climb Bio from $17.00 to $25.00 and gave the company a “buy” rating in a report on Friday, August 7th. Finally, Wall Street Zen upgraded Climb Bio from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Two 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 company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $23.08.

Climb Bio Stock Performance

CLYM stock opened at $16.40 on Tuesday. Climb Bio, Inc. has a one year low of $1.54 and a one year high of $18.14. The firm’s fifty day moving average is $13.45 and its 200 day moving average is $10.20. The firm has a market cap of $942.02 million, a PE ratio of -19.76 and a beta of 0.08.

Climb Bio (NASDAQ:CLYM) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.18) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.03. Research analysts predict that Climb Bio, Inc. will post -0.84 earnings per share for the current fiscal year.

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.