Climb Bio (NASDAQ:CLYM) Posts Quarterly Earnings Results

Climb Bio (NASDAQ:CLYM) issued its quarterly earnings data on Thursday. The company reported ($0.20) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.06, FiscalAI reports.

Climb Bio Price Performance

Shares of NASDAQ:CLYM traded down $0.54 during trading on Friday, hitting $11.37. The company had a trading volume of 1,139,064 shares, compared to its average volume of 953,669. The stock has a market cap of $543.14 million, a price-to-earnings ratio of -14.58 and a beta of 0.02. The company has a fifty day simple moving average of $7.90 and a two-hundred day simple moving average of $5.08. Climb Bio has a one year low of $1.13 and a one year high of $12.48.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CLYM shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Climb Bio in a research note on Monday, April 20th. Chardan Capital initiated coverage on Climb Bio in a research note on Tuesday. They issued a “buy” rating and a $22.00 price objective on the stock. Robert W. Baird set a $21.00 price objective on Climb Bio in a report on Wednesday. Wall Street Zen raised shares of Climb Bio from a “sell” rating to a “hold” rating in a report on Saturday. Finally, B. Riley Financial initiated coverage on shares of Climb Bio in a research report on Tuesday, March 24th. They issued a “buy” rating and a $26.00 price target on the stock. Three investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $19.80.

Institutional Trading of Climb Bio

Institutional investors have recently bought and sold shares of the stock. AQR Capital Management LLC purchased a new position in Climb Bio during the first quarter worth $27,000. Qube Research & Technologies Ltd bought a new position in Climb Bio during the 2nd quarter valued at about $43,000. Virtu Financial LLC purchased a new stake in Climb Bio in the 4th quarter worth about $43,000. Blair William & Co. IL purchased a new stake in Climb Bio in the 4th quarter worth about $44,000. Finally, Marshall Wace LLP bought a new stake in Climb Bio in the second quarter worth about $46,000. 69.76% of the stock is currently owned by institutional investors.

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.