Climb Bio (NASDAQ:CLYM) Raised to Strong-Buy at B. Riley Financial

Climb Bio (NASDAQ:CLYM) was upgraded by analysts at B. Riley Financial to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

A number of other analysts have also recently weighed in on CLYM. Raymond James Financial started coverage on shares of Climb Bio in a research note on Tuesday, March 10th. They issued a “strong-buy” rating and a $25.00 price target on the stock. Piper Sandler started coverage on shares of Climb Bio in a report on Friday, February 13th. They issued an “overweight” rating for the company. HC Wainwright increased their target price on shares of Climb Bio from $11.00 to $15.00 and gave the company a “buy” rating in a research report on Tuesday, March 10th. Wedbush began coverage on shares of Climb Bio in a research note on Thursday, March 5th. They set an “outperform” rating and a $12.00 price target on the stock. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Climb Bio in a research report on Wednesday, January 21st. Three equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Climb Bio presently has a consensus rating of “Buy” and a consensus price target of $15.63.

Climb Bio Price Performance

NASDAQ:CLYM opened at $6.98 on Monday. The company’s 50-day moving average is $5.93 and its two-hundred day moving average is $3.75. The firm has a market capitalization of $333.43 million, a price-to-earnings ratio of -7.84 and a beta of -0.25. Climb Bio has a 1-year low of $1.05 and a 1-year high of $8.04.

Climb Bio (NASDAQ:CLYM) last posted its quarterly earnings data on Thursday, March 5th. The company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.06). As a group, equities analysts anticipate that Climb Bio will post -1.57 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CLYM. Hsbc Holdings PLC grew its holdings in Climb Bio by 107.2% in the fourth quarter. Hsbc Holdings PLC now owns 24,744 shares of the company’s stock valued at $99,000 after purchasing an additional 12,800 shares during the last quarter. Prelude Capital Management LLC acquired a new position in shares of Climb Bio during the 3rd quarter worth $82,000. Balyasny Asset Management L.P. purchased a new stake in shares of Climb Bio in the 4th quarter worth about $57,000. Marshall Wace LLP purchased a new stake in shares of Climb Bio in the 2nd quarter worth about $46,000. Finally, Qube Research & Technologies Ltd acquired a new stake in Climb Bio in the 2nd quarter valued at about $43,000. 69.76% of the stock is owned by hedge funds and other 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.