Climb Bio (NASDAQ:CLYM) Stock Price Down 8.4% – Should You Sell?

Shares of Climb Bio, Inc. (NASDAQ:CLYM) were down 8.4% during trading on Thursday . The stock traded as low as $12.68 and last traded at $12.70. Approximately 319,440 shares were traded during trading, a decline of 64% from the average daily volume of 892,641 shares. The stock had previously closed at $13.87.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CLYM shares. Oppenheimer increased their price target on shares of Climb Bio from $10.00 to $18.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 21st. Weiss Ratings reissued a “sell (d-)” rating on shares of Climb Bio in a research note on Monday, April 20th. Mizuho began coverage on Climb Bio in a report on Wednesday, April 15th. They set an “outperform” rating and a $18.00 price objective for the company. Chardan Capital began coverage on Climb Bio in a research report on Tuesday, May 5th. They issued a “buy” rating and a $22.00 target price on the stock. Finally, BTIG Research lifted their target price on Climb Bio from $19.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, June 11th. Three investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $21.73.

Climb Bio Stock Performance

The stock has a fifty day moving average price of $11.86 and a 200-day moving average price of $8.40. The firm has a market cap of $727.20 million, a PE ratio of -16.28 and a beta of 0.07.

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

Hedge Funds Weigh In On Climb Bio

Hedge funds and other institutional investors have recently made changes to their positions in the business. MPM Bioimpact LLC purchased a new stake in Climb Bio during the 4th quarter worth $10,686,000. Price T Rowe Associates Inc. MD raised its position in Climb Bio by 265.1% in 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 lifted its stake in shares of Climb Bio by 972.8% during the fourth quarter. ADAR1 Capital Management LLC now owns 1,432,475 shares of the company’s stock worth $5,730,000 after purchasing an additional 1,298,945 shares in the last quarter. Sphera Funds Management LTD. lifted its stake in shares of Climb Bio by 114.4% during the fourth quarter. Sphera Funds Management LTD. now owns 932,247 shares of the company’s stock worth $3,729,000 after purchasing an additional 497,410 shares in the last quarter. Finally, Peapod Lane Capital LLC lifted its stake in shares of Climb Bio by 0.7% during the fourth quarter. Peapod Lane Capital LLC now owns 565,992 shares of the company’s stock worth $2,264,000 after purchasing an additional 4,126 shares in the last quarter. 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.