Climb Bio (NASDAQ:CLYM) Stock Price Down 10.3% – What’s Next?

Climb Bio, Inc. (NASDAQ:CLYM) shares traded down 10.3% on Monday . The stock traded as low as $9.76 and last traded at $9.69. 295,503 shares changed hands during mid-day trading, a decline of 57% from the average session volume of 693,097 shares. The stock had previously closed at $10.80.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. HC Wainwright lifted their price target on shares of Climb Bio from $15.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. BTIG Research lifted their price target on shares of Climb Bio from $8.00 to $19.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Climb Bio in a report on Monday, April 20th. Chardan Capital began coverage on Climb Bio in a report on Tuesday, May 5th. They set a “buy” rating and a $22.00 price objective for the company. Finally, B. Riley Financial began coverage on Climb Bio in a report on Tuesday, March 24th. They set a “buy” rating and a $26.00 price objective for the company. Three investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Climb Bio currently has a consensus rating of “Buy” and an average target price of $20.30.

Climb Bio Trading Down 9.9%

The stock’s 50-day moving average price is $8.39 and its two-hundred day moving average price is $5.46. The stock has a market capitalization of $557.43 million, a P/E ratio of -12.43 and a beta of 0.02.

Climb Bio (NASDAQ:CLYM) last released its earnings results on Thursday, May 7th. The company reported ($0.20) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.06. On average, equities research analysts predict that Climb Bio, Inc. will post -0.9 earnings per share for the current year.

Institutional Investors Weigh In On Climb Bio

Large investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC purchased a new position in Climb Bio during the 1st quarter valued at about $27,000. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Climb Bio in the 3rd quarter worth approximately $29,000. Qube Research & Technologies Ltd purchased a new stake in Climb Bio during the 2nd quarter valued at about $43,000. Virtu Financial LLC purchased a new stake in Climb Bio during the 4th quarter valued at about $43,000. Finally, Blair William & Co. IL purchased a new stake in Climb Bio during the 4th quarter valued at $44,000. Hedge funds and other institutional investors own 69.76% of the company’s stock.

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.