Climb Bio (NASDAQ:CLYM) Price Target Raised to $30.00

Climb Bio (NASDAQ:CLYM) had its price objective hoisted by analysts at HC Wainwright from $24.00 to $30.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price target points to a potential upside of 93.30% from the stock’s current price.

A number of other brokerages have also recently issued reports on CLYM. Weiss Ratings reiterated a “sell (d-)” rating on shares of Climb Bio in a research note on Friday, July 17th. Robert W. Baird upped their price target on shares of Climb Bio from $21.00 to $25.00 and gave the stock an “outperform” rating in a research report on Thursday, September 3rd. B Riley reissued a “buy” rating on shares of Climb Bio in a research report on Friday. BTIG Research boosted their price objective on shares of Climb Bio from $20.00 to $32.00 and gave the stock a “buy” rating in a research note on Thursday, September 3rd. Finally, Guggenheim initiated coverage on Climb Bio in a report on Monday, June 8th. They set a “buy” rating and a $35.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $26.38.

Climb Bio Price Performance

Shares of CLYM stock opened at $15.52 on Tuesday. Climb Bio has a 12 month low of $1.54 and a 12 month high of $18.33. The company’s fifty day simple moving average is $14.08 and its 200-day simple moving average is $10.89. The firm has a market cap of $891.47 million, a PE ratio of -18.70 and a beta of 0.09.

Climb Bio (NASDAQ:CLYM) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.03. On average, equities analysts predict that Climb Bio will post -0.78 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Climb Bio

Institutional investors and hedge funds have recently made changes to their positions in the company. Legal & General Group Plc bought a new stake in Climb Bio in the 2nd quarter valued at $45,000. California State Teachers Retirement System bought a new position in Climb Bio during the second quarter worth about $82,000. Virtu Financial LLC acquired a new stake in Climb Bio in the 4th quarter worth about $43,000. Blair William & Co. IL bought a new stake in Climb Bio in the 4th quarter valued at about $44,000. Finally, Balyasny Asset Management L.P. acquired a new position in shares of Climb Bio during the 4th quarter worth approximately $57,000. Institutional investors and hedge funds own 69.76% of the company’s stock.

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.