Climb Bio (NASDAQ:CLYM) Releases Earnings Results, Beats Expectations By $0.03 EPS

Climb Bio (NASDAQ:CLYM) issued its quarterly earnings results on Thursday. The company reported ($0.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.03, FiscalAI reports.

Climb Bio Price Performance

Climb Bio stock remained flat at $14.00 during trading hours on Friday. 910,257 shares of the company’s stock traded hands, compared to its average volume of 1,067,371. The stock has a 50-day simple moving average of $12.36 and a 200-day simple moving average of $9.30. The company has a market cap of $801.64 million, a PE ratio of -16.87 and a beta of 0.08. Climb Bio has a twelve month low of $1.54 and a twelve month high of $14.53.

Institutional Investors Weigh In On Climb Bio

Institutional investors and hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC bought a new position in Climb Bio in the 1st 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.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Chardan Capital initiated coverage on shares of Climb Bio in a research note on Tuesday, May 5th. They set a “buy” rating and a $22.00 price objective on the stock. Wedbush raised their target price on shares of Climb Bio from $17.00 to $20.00 and gave the company an “outperform” rating in a research note on Monday, July 27th. Robert W. Baird set a $21.00 target price on shares of Climb Bio in a report on Wednesday, May 6th. HC Wainwright reissued a “buy” rating and issued a $20.00 price target on shares of Climb Bio in a research report on Wednesday, June 24th. Finally, Mizuho initiated coverage on Climb Bio in a research note on Wednesday, April 15th. They issued an “outperform” rating and a $18.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $22.75.

Climb Bio Company Profile

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.