Seven Fleet Capital Management LP Increases Stock Position in Climb Bio, Inc. $CLYM

Seven Fleet Capital Management LP raised its stake in shares of Climb Bio, Inc. (NASDAQ:CLYM) by 71.0% in the 1st quarter, Holdings Channel reports. The firm owned 130,654 shares of the company’s stock after acquiring an additional 54,254 shares during the period. Seven Fleet Capital Management LP’s holdings in Climb Bio were worth $895,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CLYM. MPM Bioimpact LLC bought a new stake in shares of Climb Bio in the fourth quarter worth about $10,686,000. 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 worth $7,695,000 after buying an additional 1,396,722 shares in the last quarter. ADAR1 Capital Management LLC lifted its position in shares of Climb Bio by 972.8% in the fourth quarter. ADAR1 Capital Management LLC now owns 1,432,475 shares of the company’s stock worth $5,730,000 after buying an additional 1,298,945 shares in the last quarter. Sphera Funds Management LTD. boosted its stake in Climb Bio by 114.4% during the fourth quarter. Sphera Funds Management LTD. now owns 932,247 shares of the company’s stock valued at $3,729,000 after buying an additional 497,410 shares during the last quarter. Finally, Kotler Kevin bought a new position in Climb Bio during the fourth quarter valued at approximately $1,600,000. Hedge funds and other institutional investors own 69.76% of the company’s stock.

Analyst Ratings Changes

CLYM has been the topic of a number of research reports. Robert W. Baird set a $21.00 price objective on Climb Bio in a research note on Wednesday, May 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Climb Bio in a report on Friday, July 17th. HC Wainwright reiterated a “buy” rating and set a $20.00 target price on shares of Climb Bio in a research report on Wednesday, June 24th. Oppenheimer raised their target price on shares of Climb Bio from $10.00 to $18.00 and gave the company an “outperform” rating in a report on Tuesday, April 21st. Finally, Wedbush boosted their price target on shares of Climb Bio from $17.00 to $20.00 and gave the stock an “outperform” rating in a research report on Monday, July 27th. Three investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Climb Bio has an average rating of “Buy” and a consensus price target of $22.00.

Climb Bio Trading Down 1.5%

Climb Bio stock opened at $11.90 on Friday. The firm has a 50-day moving average price of $12.20 and a 200-day moving average price of $8.99. The firm has a market capitalization of $681.39 million, a PE ratio of -15.26 and a beta of 0.07. Climb Bio, Inc. has a 12-month low of $1.36 and a 12-month high of $14.41.

Climb Bio (NASDAQ:CLYM) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.20) EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.06. As a group, sell-side analysts predict that Climb Bio, Inc. will post -0.87 earnings per share for the current fiscal year.

Climb Bio 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.