The Manufacturers Life Insurance Company Invests $2.15 Million in Climb Bio, Inc. $CLYM

The Manufacturers Life Insurance Company bought a new stake in Climb Bio, Inc. (NASDAQ:CLYM) in the second quarter, HoldingsChannel reports. The fund bought 164,712 shares of the company’s stock, valued at approximately $2,148,000.

Several other large investors also recently modified their holdings of CLYM. BlackRock Inc. acquired a new position in shares of Climb Bio in the 2nd quarter valued at approximately $30,708,000. Deutsche Bank AG acquired a new stake in Climb Bio during the 2nd quarter worth approximately $452,000. Bank of New York Mellon Corp acquired a new stake in Climb Bio during the 2nd quarter worth approximately $1,613,000. State of Wyoming bought a new position in Climb Bio in the second quarter valued at approximately $187,000. Finally, Seven Fleet Capital Management LP lifted its stake in Climb Bio by 71.0% in the first quarter. Seven Fleet Capital Management LP now owns 130,654 shares of the company’s stock valued at $895,000 after buying an additional 54,254 shares in the last quarter. 69.76% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on CLYM. Truist Financial boosted their price target on Climb Bio from $17.00 to $25.00 and gave the company a “buy” rating in a report on Friday, August 7th. Robert W. Baird set a $21.00 price objective on Climb Bio in a report on Wednesday, May 6th. Wall Street Zen raised Climb Bio from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Royal Bank Of Canada began coverage on Climb Bio in a research note on Monday, August 3rd. They issued an “outperform” rating and a $23.00 target price on the stock. Finally, Guggenheim began coverage on Climb Bio in a research report on Monday, June 8th. They set a “buy” rating and a $35.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $23.08.

Climb Bio Price Performance

Shares of NASDAQ CLYM opened at $15.05 on Thursday. The stock has a market capitalization of $864.47 million, a price-to-earnings ratio of -18.13 and a beta of 0.09. The business has a 50-day moving average of $13.95 and a 200-day moving average of $10.69. Climb Bio, Inc. has a fifty-two week low of $1.54 and a fifty-two week high of $18.33.

Climb Bio (NASDAQ:CLYM) last released its earnings results on Thursday, August 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.03. On average, sell-side analysts expect that Climb Bio, Inc. will post -0.82 EPS for the current year.

Climb Bio 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.