Climb Bio (NASDAQ:CLYM) Reaches New 52-Week High on Analyst Upgrade

Climb Bio, Inc. (NASDAQ:CLYM) shares reached a new 52-week high during trading on Tuesday after Wedbush raised their price target on the stock from $17.00 to $20.00. Wedbush currently has an outperform rating on the stock. Climb Bio traded as high as $14.42 and last traded at $12.79, with a volume of 1209254 shares. The stock had previously closed at $12.84.

CLYM has been the subject of a number of other reports. HC Wainwright restated a “buy” rating and set a $20.00 price target on shares of Climb Bio in a research report on Wednesday, June 24th. Wall Street Zen raised Climb Bio from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Climb Bio in a research note on Friday, July 17th. Chardan Capital initiated coverage on shares of Climb Bio in a report on Tuesday, May 5th. They issued a “buy” rating and a $22.00 target price on the stock. Finally, Mizuho initiated coverage on shares of Climb Bio in a research report on Wednesday, April 15th. They set an “outperform” rating and a $18.00 price target for the company. Three equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Climb Bio has a consensus rating of “Buy” and a consensus target price of $22.00.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC purchased a new stake in shares of Climb Bio in the 1st quarter worth about $27,000. Qube Research & Technologies Ltd purchased a new position in shares of Climb Bio during the second quarter valued at about $43,000. Virtu Financial LLC purchased a new position in shares of Climb Bio during the fourth quarter valued at about $43,000. Blair William & Co. IL bought a new position in Climb Bio in the fourth quarter worth about $44,000. Finally, Marshall Wace LLP bought a new position in Climb Bio in the second quarter worth about $46,000. 69.76% of the stock is owned by hedge funds and other institutional investors.

Climb Bio Stock Down 1.5%

The company’s fifty day simple moving average is $12.16 and its 200 day simple moving average is $8.92. The firm has a market capitalization of $693.42 million, a PE ratio of -15.53 and a beta of 0.07.

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

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.