Climb Bio (NASDAQ:CLYM) Stock Price Up 7.6% – Should You Buy?

Climb Bio, Inc. (NASDAQ:CLYM) shares shot up 7.6% during mid-day trading on Monday . The stock traded as high as $12.48 and last traded at $12.3150. Approximately 338,866 shares were traded during trading, a decline of 57% from the average daily volume of 780,472 shares. The stock had previously closed at $11.45.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Wall Street Zen raised shares of Climb Bio from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Climb Bio in a report on Monday, April 20th. Raymond James Financial started coverage on shares of Climb Bio in a research note on Tuesday, March 10th. They set a “strong-buy” rating and a $25.00 target price for the company. Robert W. Baird set a $21.00 price target on Climb Bio in a report on Wednesday, May 6th. Finally, Truist Financial assumed coverage on Climb Bio in a research note on Tuesday, March 17th. They issued a “buy” rating and a $17.00 price target on the stock. 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’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $21.73.

Climb Bio Stock Up 7.0%

The business’s fifty day moving average is $10.41 and its 200-day moving average is $7.06. The company has a market cap of $701.61 million, a PE ratio of -15.69 and a beta of 0.09.

Climb Bio (NASDAQ:CLYM) last announced its 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. Analysts forecast 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 have recently bought and sold shares of CLYM. MPM Bioimpact LLC purchased a new position in Climb Bio during the fourth quarter valued at $10,686,000. Price T Rowe Associates Inc. MD increased 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 worth $7,695,000 after buying an additional 1,396,722 shares in the last quarter. ADAR1 Capital Management LLC increased its position in Climb Bio by 972.8% in the fourth quarter. ADAR1 Capital Management LLC now owns 1,432,475 shares of the company’s stock worth $5,730,000 after buying an additional 1,298,945 shares in the last quarter. Sphera Funds Management LTD. raised its stake in shares of Climb Bio by 114.4% in the fourth quarter. Sphera Funds Management LTD. now owns 932,247 shares of the company’s stock worth $3,729,000 after buying an additional 497,410 shares during the period. Finally, Kotler Kevin bought a new position in shares of Climb Bio in the fourth quarter worth about $1,600,000. 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.