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

Wedbush reissued their outperform rating on shares of Climb Bio (NASDAQ:CLYM) in a report published on Wednesday,Benzinga reports. The brokerage currently has a $20.00 price objective on the stock.

Other research analysts also recently issued reports about the stock. Chardan Capital started coverage on shares of Climb Bio in a research report on Tuesday, May 5th. They set a “buy” rating and a $22.00 price objective on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $20.00 target price on shares of Climb Bio in a research report on Wednesday, June 24th. Truist Financial lifted their target price on shares of Climb Bio from $17.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Oppenheimer boosted their price target on shares of Climb Bio from $10.00 to $18.00 and gave the company an “outperform” rating in a research report on Tuesday, April 21st. Finally, Royal Bank Of Canada assumed coverage on shares of Climb Bio in a research note on Monday, August 3rd. They issued an “outperform” rating and a $23.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Climb Bio currently has an average rating of “Buy” and an average target price of $22.75.

Climb Bio Stock Performance

Shares of CLYM stock opened at $17.28 on Wednesday. Climb Bio has a fifty-two week low of $1.54 and a fifty-two week high of $18.14. The firm has a market cap of $992.56 million, a P/E ratio of -20.82 and a beta of 0.08. The business’s 50 day moving average price is $13.35 and its 200-day moving average price is $10.08.

Climb Bio (NASDAQ:CLYM) last announced its earnings results on Thursday, August 6th. The company reported ($0.18) EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.03. As a group, equities analysts predict that Climb Bio will post -0.84 EPS for the current year.

Institutional Investors Weigh In On Climb Bio

Several hedge funds have recently added to or reduced their stakes in the stock. Legal & General Group Plc bought a new position in shares of Climb Bio during the second quarter valued at $45,000. Virtu Financial LLC bought a new position in Climb Bio in the 4th quarter worth about $43,000. Blair William & Co. IL bought a new position in Climb Bio in the 4th quarter worth about $44,000. Balyasny Asset Management L.P. purchased a new stake in Climb Bio during the 4th quarter valued at about $57,000. Finally, State of Wyoming purchased a new stake in Climb Bio during the 2nd quarter valued at about $187,000. 69.76% of the stock is 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.