Truist Financial Issues Positive Forecast for Climb Bio (NASDAQ:CLYM) Stock Price

Climb Bio (NASDAQ:CLYM) had its target price hoisted by Truist Financial from $17.00 to $25.00 in a research report report published on Friday morning, MarketBeat reports. Truist Financial currently has a buy rating on the stock.

Other equities analysts have also issued research reports about the company. BTIG Research lifted their price target on Climb Bio from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, June 11th. Robert W. Baird set a $21.00 price objective on shares of Climb Bio in a research report on Wednesday, May 6th. Mizuho assumed coverage on shares of Climb Bio in a research note on Wednesday, April 15th. They set an “outperform” rating and a $18.00 price objective for the company. Wedbush lifted their target price on shares of Climb Bio from $17.00 to $20.00 and gave the stock an “outperform” rating in a report on Monday, July 27th. Finally, Royal Bank Of Canada initiated coverage on shares of Climb Bio in a research note on Monday. They issued an “outperform” rating and a $23.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Climb Bio has a consensus rating of “Buy” and a consensus price target of $22.75.

Climb Bio Price Performance

Climb Bio stock opened at $14.00 on Friday. The company has a market capitalization of $801.64 million, a P/E ratio of -16.87 and a beta of 0.08. The stock’s 50 day moving average is $12.36 and its 200 day moving average is $9.30. Climb Bio has a twelve month low of $1.54 and a twelve month high of $14.53.

Climb Bio (NASDAQ:CLYM) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.03. As a group, equities analysts expect that Climb Bio will post -0.87 EPS for the current year.

Institutional Investors Weigh In On Climb Bio

Several institutional investors have recently modified their holdings of CLYM. Virtu Financial LLC purchased a new position in Climb Bio in the 4th quarter worth about $43,000. Blair William & Co. IL purchased a new stake in shares of Climb Bio during the 4th quarter valued at about $44,000. Balyasny Asset Management L.P. bought a new stake in shares of Climb Bio in the fourth quarter worth approximately $57,000. State of Wyoming bought a new stake in shares of Climb Bio in the second quarter worth approximately $187,000. Finally, AQR Capital Management LLC purchased a new position in shares of Climb Bio during the first quarter valued at approximately $27,000. 69.76% of the stock is owned by hedge funds and other institutional investors.

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.