Climb Bio (NASDAQ:CLYM) Shares Gap Up on Analyst Upgrade

Climb Bio, Inc. (NASDAQ:CLYM)’s stock price gapped up prior to trading on Wednesday after HC Wainwright raised their price target on the stock from $11.00 to $15.00. The stock had previously closed at $7.33, but opened at $7.80. HC Wainwright currently has a buy rating on the stock. Climb Bio shares last traded at $7.4550, with a volume of 117,027 shares.

A number of other equities analysts have also weighed in on the company. Robert W. Baird upped their target price on Climb Bio from $9.00 to $12.00 and gave the stock an “outperform” rating in a research report on Friday, March 6th. Wedbush began coverage on shares of Climb Bio in a research note on Thursday, March 5th. They set an “outperform” rating and a $12.00 price target for the company. Piper Sandler started coverage on shares of Climb Bio in a report on Friday, February 13th. They set an “overweight” rating on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Climb Bio in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $11.40.

Insiders Place Their Bets

In other news, Director Ra Capital Management, L.P. acquired 213,099 shares of the business’s stock in a transaction on Thursday, December 11th. The shares were purchased at an average cost of $2.18 per share, with a total value of $464,555.82. Following the acquisition, the director directly owned 3,294,856 shares of the company’s stock, valued at $7,182,786.08. The trade was a 6.91% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders acquired 321,672 shares of company stock worth $779,626. 3.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Climb Bio

A number of institutional investors have recently added to or reduced their stakes in the company. Nan Fung Trinity HK Ltd. bought a new position in shares of Climb Bio during the 2nd quarter worth approximately $575,000. Qube Research & Technologies Ltd purchased a new position in shares of Climb Bio in the 2nd quarter worth approximately $43,000. Virtu Financial LLC bought a new position in shares of Climb Bio in the fourth quarter valued at approximately $43,000. AQR Capital Management LLC bought a new position in shares of Climb Bio in the first quarter valued at approximately $27,000. Finally, Seven Fleet Capital Management LP purchased a new stake in shares of Climb Bio during the fourth quarter valued at approximately $306,000. 69.76% of the stock is owned by institutional investors.

Climb Bio Stock Up 0.6%

The stock has a 50-day moving average of $5.32 and a 200 day moving average of $3.40. The company has a market capitalization of $502.76 million, a PE ratio of -8.24 and a beta of -0.25.

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

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.