Climb Bio (NASDAQ:CLYM) Sees Strong Trading Volume – What’s Next?

Shares of Climb Bio, Inc. (NASDAQ:CLYM) saw an uptick in trading volume on Tuesday . 1,076,731 shares changed hands during mid-day trading, an increase of 45% from the previous session’s volume of 742,226 shares.The stock last traded at $10.6270 and had previously closed at $10.77.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CLYM. Mizuho began coverage on shares of Climb Bio in a report on Wednesday, April 15th. They issued an “outperform” rating and a $18.00 price target on the stock. Piper Sandler assumed coverage on shares of Climb Bio in a research report on Friday, February 13th. They set an “overweight” rating for the company. Guggenheim assumed coverage on shares of Climb Bio in a research report on Monday. They set a “buy” rating and a $35.00 target price for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Climb Bio in a report on Monday, April 20th. Finally, 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 report on Tuesday, April 21st. Three equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Climb Bio has an average rating of “Buy” and a consensus price target of $21.73.

Climb Bio Trading Up 0.9%

The company’s 50 day moving average price is $9.79 and its two-hundred day moving average price is $6.60. The stock has a market cap of $624.22 million, a P/E ratio of -14.04 and a beta of 0.09.

Climb Bio (NASDAQ:CLYM) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.06. On average, sell-side analysts anticipate that Climb Bio, Inc. will post -0.87 earnings per share for the current year.

Institutional Investors Weigh In On Climb Bio

Large investors have recently made changes to their positions in the company. Peapod Lane Capital LLC lifted its position in Climb Bio by 0.7% during the fourth quarter. Peapod Lane Capital LLC now owns 565,992 shares of the company’s stock valued at $2,264,000 after purchasing an additional 4,126 shares during the last quarter. XTX Topco Ltd increased its position in shares of Climb Bio by 19.4% during the 4th quarter. XTX Topco Ltd now owns 34,852 shares of the company’s stock valued at $139,000 after purchasing an additional 5,668 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Climb Bio during the 4th quarter valued at approximately $43,000. Blair William & Co. IL bought a new position in shares of Climb Bio during the 4th quarter valued at approximately $44,000. Finally, Hsbc Holdings PLC increased its position in shares of Climb Bio by 107.2% during the 4th quarter. Hsbc Holdings PLC now owns 24,744 shares of the company’s stock valued at $99,000 after purchasing an additional 12,800 shares during the last quarter. 69.76% of the stock is owned by institutional investors.

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.