B. Riley Financial Initiates Coverage on Climb Bio (NASDAQ:CLYM)

Research analysts at B. Riley Financial initiated coverage on shares of Climb Bio (NASDAQ:CLYM) in a research note issued on Tuesday. The brokerage set a “buy” rating and a $26.00 price target on the stock. B. Riley Financial’s target price would suggest a potential upside of 297.55% from the company’s previous close.

CLYM has been the topic of several other research reports. Wedbush assumed coverage on shares of Climb Bio in a report on Thursday, March 5th. They issued an “outperform” rating and a $12.00 target price on the stock. Robert W. Baird boosted their price target on shares of Climb Bio from $9.00 to $12.00 and gave the stock an “outperform” rating in a report on Friday, March 6th. 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 price objective on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Climb Bio in a research report on Wednesday, January 21st. Finally, HC Wainwright boosted their target price on shares of Climb Bio from $11.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, March 10th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Climb Bio currently has an average rating of “Buy” and an average target price of $15.63.

Climb Bio Price Performance

Shares of NASDAQ CLYM opened at $6.54 on Tuesday. The company has a market cap of $312.40 million, a price-to-earnings ratio of -7.35 and a beta of -0.25. The stock’s 50-day moving average is $5.82 and its two-hundred day moving average is $3.70. Climb Bio has a 1-year low of $1.05 and a 1-year high of $8.04.

Climb Bio (NASDAQ:CLYM) last announced its quarterly earnings data on Thursday, March 5th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.06). Equities research analysts anticipate that Climb Bio will post -1.57 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Climb Bio

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Virtu Financial LLC purchased a new position in Climb Bio in the fourth quarter valued at approximately $43,000. Blair William & Co. IL acquired a new stake in Climb Bio during the fourth quarter worth approximately $44,000. Balyasny Asset Management L.P. purchased a new stake in shares of Climb Bio during the 4th quarter worth approximately $57,000. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Climb Bio in the 3rd quarter valued at $29,000. Finally, AQR Capital Management LLC acquired a new position in shares of Climb Bio in the 1st quarter valued at $27,000. 69.76% of the stock is owned by institutional investors and hedge funds.

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.