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

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

CLYM has been the subject of several other reports. HC Wainwright upped their target price on Climb Bio from $11.00 to $15.00 and gave the company a “buy” rating in a research note on Tuesday, March 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Climb Bio in a research note on Wednesday, January 21st. Robert W. Baird upped their price objective on shares of Climb Bio from $9.00 to $12.00 and gave the company an “outperform” rating in a research note on Friday, March 6th. Truist Financial started coverage on shares of Climb Bio in a report on Tuesday, March 17th. They set a “buy” rating and a $17.00 price objective on the stock. Finally, Piper Sandler started coverage on shares of Climb Bio in a research report on Friday, February 13th. They issued an “overweight” rating on the stock. Three investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Climb Bio presently has a consensus rating of “Buy” and an average price target of $15.63.

Climb Bio Stock Performance

Shares of CLYM opened at $6.98 on Monday. Climb Bio has a 1 year low of $1.05 and a 1 year high of $8.04. The company’s 50 day simple moving average is $5.93 and its 200 day simple moving average is $3.75. The company has a market capitalization of $333.43 million, a price-to-earnings ratio of -7.84 and a beta of -0.25.

Climb Bio (NASDAQ:CLYM) last released its earnings results on Thursday, March 5th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.06). Equities analysts expect that Climb Bio will post -1.57 EPS for the current fiscal year.

Institutional Investors Weigh In On Climb Bio

A number of institutional investors have recently added to or reduced their stakes in the company. Blair William & Co. IL acquired a new stake in Climb Bio during the fourth quarter worth about $44,000. Qube Research & Technologies Ltd acquired a new position in shares of Climb Bio in the 2nd quarter valued at about $43,000. Virtu Financial LLC acquired a new position in shares of Climb Bio in the 4th quarter valued at about $43,000. AQR Capital Management LLC purchased a new stake in shares of Climb Bio during the 1st quarter worth about $27,000. Finally, Seven Fleet Capital Management LP purchased a new stake in shares of Climb Bio during the 4th quarter worth about $306,000. Hedge funds and other 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.