Climb Bio (NASDAQ:CLYM) Trading Up 7.8% – Time to Buy?

Climb Bio, Inc. (NASDAQ:CLYM)’s stock price was up 7.8% on Wednesday . The stock traded as high as $10.28 and last traded at $10.4050. Approximately 68,830 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 688,390 shares. The stock had previously closed at $9.65.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CLYM shares. BTIG Research boosted 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. Piper Sandler started coverage on shares of Climb Bio in a research note on Friday, February 13th. They issued an “overweight” rating on the stock. Raymond James Financial started coverage on shares of Climb Bio in a research note on Tuesday, March 10th. They issued a “strong-buy” rating and a $25.00 price target on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Climb Bio in a research note on Monday, April 20th. Finally, 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 note on Friday, May 8th. Three research 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’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $20.30.

Climb Bio Stock Performance

The stock’s 50-day simple moving average is $8.49 and its 200 day simple moving average is $5.57. The company has a market capitalization of $589.78 million, a PE ratio of -13.23 and a beta of 0.02.

Climb Bio (NASDAQ:CLYM) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.20) EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.06. On average, analysts expect that Climb Bio, Inc. will post -0.89 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Bank of America Corp DE grew its position in shares of Climb Bio by 945.2% in the 1st quarter. Bank of America Corp DE now owns 52,921 shares of the company’s stock valued at $363,000 after buying an additional 47,858 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Climb Bio by 11.2% in the 1st quarter. The Manufacturers Life Insurance Company now owns 156,317 shares of the company’s stock valued at $1,071,000 after buying an additional 15,700 shares during the last quarter. Dimensional Fund Advisors LP purchased a new position in shares of Climb Bio in the 1st quarter valued at $715,000. Hsbc Holdings PLC grew its position in shares of Climb Bio by 107.2% in the 4th quarter. Hsbc Holdings PLC now owns 24,744 shares of the company’s stock valued at $99,000 after buying an additional 12,800 shares during the last quarter. Finally, Seven Fleet Capital Management LP purchased a new position in shares of Climb Bio in the 4th quarter valued at $306,000. 69.76% of the stock is owned by hedge funds and other institutional investors.

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.