Climb Bio (NASDAQ:CLYM) Shares Down 7.6% – Should You Sell?

Climb Bio, Inc. (NASDAQ:CLYM) shares traded down 7.6% during mid-day trading on Thursday . The company traded as low as $11.19 and last traded at $11.05. 91,209 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 688,202 shares. The stock had previously closed at $11.96.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Wall Street Zen upgraded Climb Bio from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Piper Sandler assumed coverage on Climb Bio in a report on Friday, February 13th. They issued an “overweight” rating for the company. HC Wainwright increased their price objective on Climb Bio from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Raymond James Financial began coverage on Climb Bio in a report on Tuesday, March 10th. They issued a “strong-buy” rating and a $25.00 price objective for the company. Finally, B. Riley Financial began coverage on Climb Bio in a research note on Tuesday, March 24th. They issued a “buy” rating and a $26.00 price target on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $20.30.

Climb Bio Stock Down 6.6%

The firm has a 50 day moving average price of $8.95 and a 200 day moving average price of $5.95. The stock has a market cap of $639.48 million, a P/E ratio of -14.24 and a beta of 0.02.

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

Institutional Investors Weigh In On Climb Bio

Several large investors have recently added to or reduced their stakes in CLYM. AQR Capital Management LLC bought a new stake in Climb Bio during the first quarter worth approximately $27,000. Goldman Sachs Group Inc. purchased a new position in shares of Climb Bio during the first quarter valued at approximately $147,000. Marshall Wace LLP purchased a new position in shares of Climb Bio during the second quarter valued at approximately $46,000. Qube Research & Technologies Ltd purchased a new position in shares of Climb Bio during the second quarter valued at approximately $43,000. Finally, Jane Street Group LLC purchased a new position in shares of Climb Bio during the second quarter valued at approximately $184,000. 69.76% of the stock is owned by 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.