Climb Bio (NASDAQ:CLYM) Stock Price Expected to Rise, HC Wainwright Analyst Says

Climb Bio (NASDAQ:CLYM) had its target price increased by investment analysts at HC Wainwright from $15.00 to $20.00 in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price objective would indicate a potential upside of 79.86% from the stock’s previous close.

Several other equities research analysts have also issued reports on the stock. Truist Financial started coverage on shares of Climb Bio in a report on Tuesday, March 17th. They issued a “buy” rating and a $17.00 target price for the company. Wall Street Zen raised shares of Climb Bio from a “sell” rating to a “hold” rating in a report on Saturday. Chardan Capital started coverage on shares of Climb Bio in a report on Tuesday, May 5th. They issued a “buy” rating and a $22.00 target price for the company. Robert W. Baird set a $21.00 target price on shares of Climb Bio in a report on Wednesday, May 6th. Finally, B. Riley Financial started coverage on shares of Climb Bio in a report on Tuesday, March 24th. They issued a “buy” rating and a $26.00 target price for the company. Three investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Climb Bio currently has a consensus rating of “Buy” and an average target price of $20.30.

Climb Bio Stock Down 2.2%

Shares of NASDAQ:CLYM opened at $11.12 on Tuesday. The firm’s 50 day moving average price is $8.06 and its 200-day moving average price is $5.20. The stock has a market capitalization of $636.73 million, a PE ratio of -14.26 and a beta of 0.02. Climb Bio has a twelve month low of $1.13 and a twelve month high of $12.48.

Climb Bio (NASDAQ:CLYM) last released its earnings results on Thursday, May 7th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.06. Analysts expect that Climb Bio will post -1.07 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Climb Bio

Institutional investors and hedge funds have recently modified their holdings of the stock. Virtu Financial LLC bought a new stake in shares of Climb Bio during the fourth quarter valued at approximately $43,000. Blair William & Co. IL bought a new stake in shares of Climb Bio during the fourth quarter valued at approximately $44,000. Balyasny Asset Management L.P. purchased a new position in shares of Climb Bio in the fourth quarter valued at $57,000. Vanguard Personalized Indexing Management LLC purchased a new position in shares of Climb Bio in the third quarter valued at $29,000. Finally, AQR Capital Management LLC purchased a new position in shares of Climb Bio in the first quarter valued at $27,000. 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.