Climb Bio (NASDAQ:CLYM) Price Target Raised to $25.00

Climb Bio (NASDAQ:CLYM) had its price objective upped by stock analysts at Robert W. Baird from $21.00 to $25.00 in a report released on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s price target would suggest a potential upside of 71.21% from the company’s current price.

Several other research firms have also weighed in on CLYM. Royal Bank Of Canada assumed coverage on Climb Bio in a report on Monday, August 3rd. They set an “outperform” rating and a $23.00 target price on the stock. Guggenheim began coverage on shares of Climb Bio in a research note on Monday, June 8th. They set a “buy” rating and a $35.00 price objective for the company. HC Wainwright upped their price objective on Climb Bio from $20.00 to $24.00 and gave the company a “buy” rating in a research note on Monday, August 24th. BTIG Research increased their price objective on Climb Bio from $20.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Piper Sandler set a $40.00 target price on shares of Climb Bio and gave the company an “overweight” rating in a research report on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $25.62.

Climb Bio Stock Performance

CLYM traded down $0.45 during trading on Thursday, reaching $14.60. 4,372,141 shares of the company’s stock were exchanged, compared to its average volume of 983,717. Climb Bio has a fifty-two week low of $1.54 and a fifty-two week high of $18.33. The company’s fifty day moving average price is $13.95 and its 200-day moving average price is $10.69. The firm has a market capitalization of $838.74 million, a PE ratio of -17.51 and a beta of 0.09.

Climb Bio (NASDAQ:CLYM) last released its earnings results on Thursday, August 6th. The company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.03. Research analysts forecast that Climb Bio will post -0.82 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Climb Bio

A number of hedge funds and other institutional investors have recently modified their holdings of CLYM. AQR Capital Management LLC bought a new position in shares of Climb Bio during the 1st quarter valued at $27,000. Goldman Sachs Group Inc. bought a new stake in shares of Climb Bio in the first quarter worth about $147,000. Marshall Wace LLP bought a new position in shares of Climb Bio during the second quarter valued at approximately $46,000. Qube Research & Technologies Ltd bought a new position in Climb Bio in the 2nd quarter worth $43,000. Finally, Jane Street Group LLC purchased a new stake in Climb Bio in the second quarter worth about $184,000. 69.76% of the stock is currently owned by hedge funds and other 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.