Climb Bio, Inc. (NASDAQ:CLYM – Get Free Report)’s stock price was up 7.6% during mid-day trading on Monday . The stock traded as high as $12.48 and last traded at $12.3150. 338,866 shares changed hands during mid-day trading, a decline of 57% from the average session volume of 780,472 shares. The stock had previously closed at $11.45.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on the company. Wedbush restated an “outperform” rating and set a $17.00 price target on shares of Climb Bio in a research report on Friday, June 12th. BTIG Research increased their price objective on Climb Bio from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, June 11th. Guggenheim initiated coverage on Climb Bio in a research report on Monday, June 8th. They set a “buy” rating and a $35.00 price objective for the company. Mizuho began coverage on shares of Climb Bio in a report on Wednesday, April 15th. They set an “outperform” rating and a $18.00 target price on the stock. Finally, Wall Street Zen raised shares of Climb Bio from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Three research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $21.73.
Check Out Our Latest Report on CLYM
Climb Bio Stock Up 7.0%
Climb Bio (NASDAQ:CLYM – Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.06. Sell-side analysts anticipate that Climb Bio, Inc. will post -0.87 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in the company. AQR Capital Management LLC bought a new stake in shares of Climb Bio during the first quarter valued at approximately $27,000. Qube Research & Technologies Ltd purchased a new stake in Climb Bio during the 2nd quarter valued at $43,000. Virtu Financial LLC bought a new stake in shares of Climb Bio in the 4th quarter worth $43,000. Blair William & Co. IL bought a new stake in shares of Climb Bio in the 4th quarter worth $44,000. Finally, Marshall Wace LLP purchased a new position in shares of Climb Bio in the second quarter worth $46,000. Institutional investors 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.
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