Climb Bio (NASDAQ:CLYM) Trading Up 10.1% – Here’s Why

Climb Bio, Inc. (NASDAQ:CLYM) was up 10.1% during trading on Monday . The company traded as high as $11.79 and last traded at $11.6150. Approximately 254,848 shares were traded during mid-day trading, a decline of 65% from the average daily volume of 728,371 shares. The stock had previously closed at $10.55.

Analyst Ratings Changes

A number of research analysts recently commented on CLYM shares. BTIG Research restated a “buy” rating and issued a $19.00 target price on shares of Climb Bio in a research note on Monday. HC Wainwright upped their target price on Climb Bio from $15.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Wedbush upped their price target on Climb Bio from $15.00 to $17.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. Mizuho assumed coverage on Climb Bio in a research report on Wednesday, April 15th. They issued an “outperform” rating and a $18.00 price target on the stock. Finally, Raymond James Financial assumed coverage on Climb Bio in a research report on Tuesday, March 10th. They issued a “strong-buy” rating and a $25.00 price target on the stock. Three analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $21.64.

Climb Bio Stock Performance

The firm has a market cap of $648.79 million, a price-to-earnings ratio of -14.53 and a beta of 0.09. The business’s 50-day moving average is $9.55 and its 200-day moving average is $6.41.

Climb Bio (NASDAQ:CLYM) last announced its earnings results on Thursday, May 7th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.06. Equities research analysts expect that Climb Bio, Inc. will post -0.87 EPS for the current fiscal year.

Hedge Funds Weigh In On Climb Bio

A number of institutional investors and hedge funds have recently bought and sold shares of CLYM. AQR Capital Management LLC acquired a new position in Climb Bio in the first quarter worth $27,000. Vanguard Personalized Indexing Management LLC acquired a new position in Climb Bio in the third quarter worth $29,000. Qube Research & Technologies Ltd acquired a new position in Climb Bio in the second quarter worth $43,000. Virtu Financial LLC acquired a new position in Climb Bio in the fourth quarter worth $43,000. Finally, Blair William & Co. IL acquired a new position in Climb Bio in the fourth quarter worth $44,000. Institutional investors and hedge funds own 69.76% of the company’s stock.

About Climb Bio

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.