Climb Bio (NASDAQ:CLYM) Sees Unusually-High Trading Volume – What’s Next?

Climb Bio, Inc. (NASDAQ:CLYM) saw an uptick in trading volume on Tuesday . 1,076,731 shares changed hands during trading, an increase of 45% from the previous session’s volume of 742,226 shares.The stock last traded at $10.6270 and had previously closed at $10.77.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Wedbush upped their target price on shares of Climb Bio from $15.00 to $17.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Guggenheim initiated coverage on shares of Climb Bio in a research report on Monday. They set a “buy” rating and a $35.00 price target for the company. Wall Street Zen upgraded shares of Climb Bio from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Chardan Capital assumed coverage on shares of Climb Bio in a research note on Tuesday, May 5th. They set a “buy” rating and a $22.00 target price for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Climb Bio in a report on Monday, April 20th. Three equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $21.64.

Climb Bio Trading Down 0.9%

The company has a market cap of $610.96 million, a P/E ratio of -13.69 and a beta of 0.09. The stock’s 50 day moving average is $9.62 and its 200-day moving average is $6.47.

Climb Bio (NASDAQ:CLYM) last issued its earnings results on Thursday, May 7th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.06. As a group, sell-side analysts forecast that Climb Bio, Inc. will post -0.87 EPS for the current year.

Institutional Trading of Climb Bio

A number of institutional investors have recently made changes to their positions in CLYM. MPM Bioimpact LLC bought a new stake in Climb Bio in the 4th quarter worth approximately $10,686,000. Price T Rowe Associates Inc. MD grew its holdings in Climb Bio by 265.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,923,639 shares of the company’s stock valued at $7,695,000 after purchasing an additional 1,396,722 shares during the period. ADAR1 Capital Management LLC increased its position in Climb Bio by 972.8% in the fourth quarter. ADAR1 Capital Management LLC now owns 1,432,475 shares of the company’s stock worth $5,730,000 after buying an additional 1,298,945 shares in the last quarter. Sphera Funds Management LTD. raised its stake in shares of Climb Bio by 114.4% in the fourth quarter. Sphera Funds Management LTD. now owns 932,247 shares of the company’s stock worth $3,729,000 after buying an additional 497,410 shares during the period. Finally, Peapod Lane Capital LLC raised its stake in shares of Climb Bio by 0.7% in the fourth quarter. Peapod Lane Capital LLC now owns 565,992 shares of the company’s stock worth $2,264,000 after buying an additional 4,126 shares during the period. 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.