Climb Bio’s (CLYM) “Outperform” Rating Reaffirmed at Wedbush

Climb Bio (NASDAQ:CLYM)‘s stock had its “outperform” rating reiterated by analysts at Wedbush in a report issued on Friday,Benzinga reports. They presently have a $17.00 target price on the stock. Wedbush’s price objective would indicate a potential upside of 51.46% from the company’s current price.

Other equities analysts have also issued research reports about the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Climb Bio in a research note on Monday, April 20th. B. Riley Financial initiated coverage on Climb Bio in a research note on Tuesday, March 24th. They issued a “buy” rating and a $26.00 target price for the company. Guggenheim initiated coverage on Climb Bio in a report on Monday. They issued a “buy” rating and a $35.00 price target for the company. Piper Sandler assumed coverage on shares of Climb Bio in a research report on Friday, February 13th. They set an “overweight” rating on the stock. Finally, HC Wainwright increased their price objective on shares of Climb Bio from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Three investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $21.73.

Climb Bio Stock Performance

Shares of NASDAQ CLYM traded up $0.31 during mid-day trading on Friday, hitting $11.22. 79,340 shares of the stock were exchanged, compared to its average volume of 768,414. The company has a market cap of $642.69 million, a P/E ratio of -14.33 and a beta of 0.09. The stock’s fifty day simple moving average is $9.87 and its two-hundred day simple moving average is $6.66. Climb Bio has a twelve month low of $1.16 and a twelve month high of $12.48.

Climb Bio (NASDAQ:CLYM) last announced its earnings results on Thursday, May 7th. The company reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.06. As a group, equities research analysts predict that Climb Bio will post -0.87 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Climb Bio

Large investors have recently bought and sold shares of the business. Virtu Financial LLC bought a new position in Climb Bio in the fourth quarter valued at approximately $43,000. Blair William & Co. IL bought a new stake in shares of Climb Bio during the 4th quarter valued at $44,000. Balyasny Asset Management L.P. bought a new stake in shares of Climb Bio during the 4th quarter valued at $57,000. AQR Capital Management LLC acquired a new position in shares of Climb Bio in the 1st quarter valued at $27,000. Finally, Hsbc Holdings PLC lifted its stake in shares of Climb Bio by 107.2% in the 4th 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 period. 69.76% of the stock is currently 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.