Climb Bio (NASDAQ:CLYM) Hits New 1-Year High – Here’s What Happened

Climb Bio, Inc. (NASDAQ:CLYM) shares hit a new 52-week high on Monday . The stock traded as high as $13.47 and last traded at $13.48, with a volume of 684126 shares. The stock had previously closed at $13.08.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Chardan Capital initiated coverage on Climb Bio in a research report on Tuesday, May 5th. They issued a “buy” rating and a $22.00 price target on the stock. Wedbush reaffirmed an “outperform” rating and set a $17.00 price objective on shares of Climb Bio in a research report on Friday, June 12th. B. Riley Financial initiated coverage on Climb Bio in a research note on Tuesday, March 24th. They issued a “buy” rating and a $26.00 target price on the stock. HC Wainwright reissued a “buy” rating and issued a $20.00 target price on shares of Climb Bio in a report on Wednesday, June 24th. Finally, Guggenheim assumed coverage on Climb Bio in a research note on Monday, June 8th. They set a “buy” rating and a $35.00 price target for the company. Three analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Climb Bio currently has an average rating of “Buy” and an average price target of $21.73.

Climb Bio Stock Up 2.0%

The company’s fifty day moving average price is $10.82 and its two-hundred day moving average price is $7.45. The firm has a market cap of $764.13 million, a PE ratio of -17.39 and a beta of 0.09.

Climb Bio (NASDAQ:CLYM) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.06. As a group, analysts predict that Climb Bio, Inc. will post -0.87 earnings per share for the current year.

Institutional Trading of Climb Bio

Several hedge funds have recently modified their holdings of the business. AQR Capital Management LLC acquired a new position in Climb Bio during the first quarter worth $27,000. Qube Research & Technologies Ltd acquired a new stake in Climb Bio in the second quarter valued at $43,000. Virtu Financial LLC acquired a new stake in Climb Bio in the fourth quarter valued at $43,000. Blair William & Co. IL purchased a new stake in shares of Climb Bio during the 4th quarter worth $44,000. Finally, Marshall Wace LLP acquired a new position in shares of Climb Bio during the 2nd quarter worth $46,000. 69.76% of the stock is owned by institutional investors and hedge funds.

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.