Climb Bio (NASDAQ:CLYM) Posts Quarterly Earnings Results, Misses Estimates By $0.06 EPS

Climb Bio (NASDAQ:CLYM) issued its quarterly earnings data on Thursday. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.06), Zacks reports.

Climb Bio Trading Down 2.7%

Shares of Climb Bio stock traded down $0.20 on Friday, reaching $7.19. 241,212 shares of the company were exchanged, compared to its average volume of 690,537. Climb Bio has a fifty-two week low of $1.05 and a fifty-two week high of $7.59. The firm has a market capitalization of $490.21 million, a price-to-earnings ratio of -9.46 and a beta of -0.25. The stock has a fifty day moving average price of $5.15 and a 200-day moving average price of $3.28.

Analysts Set New Price Targets

A number of analysts have recently commented on CLYM shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Climb Bio in a research note on Wednesday, January 21st. HC Wainwright lifted their target price on Climb Bio from $9.00 to $11.00 and gave the stock a “buy” rating in a report on Thursday, December 18th. Piper Sandler started coverage on shares of Climb Bio in a report on Friday, February 13th. They issued an “overweight” rating for the company. Robert W. Baird raised their price objective on shares of Climb Bio from $9.00 to $12.00 and gave the company an “outperform” rating in a research report on Friday. Finally, Wedbush began coverage on shares of Climb Bio in a research note on Thursday. They issued an “outperform” rating and a $12.00 price objective on the stock. Seven investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Climb Bio currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.60.

Insiders Place Their Bets

In related news, Director Ra Capital Management, L.P. acquired 213,099 shares of the business’s stock in a transaction on Thursday, December 11th. The shares were purchased at an average price of $2.18 per share, for a total transaction of $464,555.82. Following the acquisition, the director owned 3,294,856 shares in the company, valued at approximately $7,182,786.08. This represents a 6.91% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders bought 321,672 shares of company stock valued at $779,626. Company insiders own 0.80% of the company’s stock.

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 acquired a new stake in shares of Climb Bio during the first quarter valued at approximately $27,000. Qube Research & Technologies Ltd purchased a new position in Climb Bio during the 2nd quarter worth approximately $43,000. Virtu Financial LLC acquired a new stake in Climb Bio during the 4th quarter valued at $43,000. Blair William & Co. IL acquired a new stake in Climb Bio during the 4th quarter valued at $44,000. Finally, Marshall Wace LLP purchased a new stake in shares of Climb Bio in the second quarter valued at $46,000. 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.