Climb Bio (NASDAQ:CLYM) Reaches New 12-Month High – Still a Buy?

Climb Bio, Inc. (NASDAQ:CLYM) shares reached a new 52-week high on Thursday . The stock traded as high as $7.40 and last traded at $7.38, with a volume of 931851 shares. The stock had previously closed at $7.09.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. HC Wainwright lifted their price objective 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 assumed coverage on shares of Climb Bio in a research note on Friday, February 13th. They issued an “overweight” rating for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Climb Bio in a report on Wednesday, January 21st. Finally, Wall Street Zen lowered Climb Bio from a “hold” rating to a “strong sell” rating in a report on Saturday, November 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $9.50.

Climb Bio Stock Up 4.1%

The firm has a market capitalization of $503.17 million, a PE ratio of -9.71 and a beta of -0.15. The company’s 50-day simple moving average is $4.84 and its 200 day simple moving average is $3.06.

Insiders Place Their Bets

In other Climb Bio news, Director Ra Capital Management, L.P. purchased 213,099 shares of the stock in a transaction on Thursday, December 11th. The shares were bought at an average cost of $2.18 per share, with a total value of $464,555.82. Following the completion of the acquisition, the director owned 3,294,856 shares in the company, valued at $7,182,786.08. This trade represents a 6.91% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last 90 days, insiders have purchased 321,672 shares of company stock valued at $779,626. 0.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Climb Bio

A number of hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC purchased a new stake in shares of Climb Bio in the 1st quarter valued at approximately $27,000. Vanguard Personalized Indexing Management LLC acquired a new position in Climb Bio in the third quarter valued at approximately $29,000. Virtu Financial LLC purchased a new position in Climb Bio in the fourth quarter worth approximately $43,000. Qube Research & Technologies Ltd acquired a new stake in Climb Bio during the second quarter worth $43,000. Finally, Blair William & Co. IL purchased a new stake in Climb Bio in the fourth quarter valued at $44,000. Hedge funds and other institutional investors own 69.76% of the company’s stock.

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.