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

Shares of Climb Bio, Inc. (NASDAQ:CLYM) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $18.33 and last traded at $17.84, with a volume of 1198892 shares trading hands. The stock had previously closed at $16.40.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CLYM. Robert W. Baird set a $21.00 target price on Climb Bio in a report on Wednesday, May 6th. Chardan Capital began coverage on Climb Bio in a report on Tuesday, May 5th. They set a “buy” rating and a $22.00 price target on the stock. BTIG Research raised their price target on Climb Bio from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, June 11th. Truist Financial lifted their price objective on shares of Climb Bio from $17.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Finally, Guggenheim started coverage on shares of Climb Bio in a research report on Monday, June 8th. They set a “buy” rating and a $35.00 price objective on the stock. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $23.08.

Climb Bio Price Performance

The stock has a market capitalization of $1.02 billion, a P/E ratio of -21.49 and a beta of 0.08. The stock’s fifty day moving average price is $13.59 and its 200 day moving average price is $10.29.

Climb Bio (NASDAQ:CLYM) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.03. On average, sell-side analysts expect that Climb Bio, Inc. will post -0.84 earnings per share for the current year.

Institutional Trading of Climb Bio

Several institutional investors and hedge funds have recently modified their holdings of CLYM. Legal & General Group Plc purchased a new stake in shares of Climb Bio in the second quarter valued at approximately $45,000. XTX Topco Ltd grew its stake in Climb Bio by 19.4% in the fourth quarter. XTX Topco Ltd now owns 34,852 shares of the company’s stock worth $139,000 after purchasing an additional 5,668 shares in the last quarter. California State Teachers Retirement System purchased a new position in Climb Bio during the 2nd quarter worth $82,000. Virtu Financial LLC purchased a new position in Climb Bio during the 4th quarter worth $43,000. Finally, Blair William & Co. IL bought a new stake in Climb Bio during the 4th quarter valued at $44,000. 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.