Climb Bio (NASDAQ:CLYM) Sets New 52-Week High – Time to Buy?

Shares of Climb Bio, Inc. (NASDAQ:CLYM) reached a new 52-week high during trading on Tuesday . The company traded as high as $12.48 and last traded at $11.12, with a volume of 1248701 shares changing hands. The stock had previously closed at $11.37.

Analyst Ratings Changes

CLYM has been the subject of a number of analyst reports. B. Riley Financial initiated coverage on shares of Climb Bio in a research note on Tuesday, March 24th. They set a “buy” rating and a $26.00 price objective for the company. Mizuho initiated coverage on shares of Climb Bio in a research note on Wednesday, April 15th. They set an “outperform” rating and a $18.00 price objective for the company. Chardan Capital initiated coverage on shares of Climb Bio in a research note on Tuesday, May 5th. They set a “buy” rating and a $22.00 price objective for the company. Oppenheimer upped their price objective on shares of Climb Bio from $10.00 to $18.00 and gave the company an “outperform” rating in a research note on Tuesday, April 21st. Finally, Wedbush increased their price target on shares of Climb Bio from $15.00 to $17.00 and gave the stock an “outperform” rating in a research report on Friday. Three analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $19.80.

Climb Bio Price Performance

The business has a fifty day moving average of $8.06 and a 200 day moving average of $5.20. The stock has a market cap of $636.73 million, a price-to-earnings ratio of -14.26 and a beta of 0.02.

Climb Bio (NASDAQ:CLYM) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.20) EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.06. On average, analysts expect that Climb Bio, Inc. will post -1.07 EPS for the current year.

Hedge Funds Weigh In On Climb Bio

Hedge funds have recently added to or reduced their stakes in the company. Virtu Financial LLC acquired a new position in Climb Bio in the fourth quarter worth approximately $43,000. Blair William & Co. IL acquired a new position in Climb Bio in the fourth quarter worth approximately $44,000. Balyasny Asset Management L.P. acquired a new position in Climb Bio in the fourth quarter worth approximately $57,000. Vanguard Personalized Indexing Management LLC acquired a new position in Climb Bio in the third quarter worth approximately $29,000. Finally, AQR Capital Management LLC acquired a new position in Climb Bio during the first quarter valued at approximately $27,000. Institutional investors and hedge funds 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.