Climb Bio (NASDAQ:CLYM) Sets New 1-Year High – Here’s Why

Climb Bio, Inc. (NASDAQ:CLYM)’s share price hit a new 52-week high on Monday . The stock traded as high as $14.11 and last traded at $13.8550, with a volume of 196538 shares traded. The stock had previously closed at $12.90.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CLYM shares. B. Riley Financial started coverage on Climb Bio in a research note on Tuesday, March 24th. They issued a “buy” rating and a $26.00 price objective for the company. BTIG Research lifted their target price on Climb Bio from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, June 11th. Guggenheim initiated coverage on Climb Bio in a report on Monday, June 8th. They set a “buy” rating and a $35.00 price target for the company. Oppenheimer upped their price target on Climb Bio from $10.00 to $18.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 21st. Finally, Robert W. Baird set a $21.00 price objective on Climb Bio in a research note on Wednesday, May 6th. Three 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. According to data from MarketBeat.com, Climb Bio presently has an average rating of “Buy” and an average price target of $21.73.

Climb Bio Stock Up 10.7%

The stock has a market capitalization of $817.66 million, a PE ratio of -18.25 and a beta of 0.07. The stock’s 50 day moving average price is $11.22 and its 200-day moving average price is $7.82.

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

Institutional Trading of Climb Bio

Institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC bought a new stake in Climb Bio during the 1st quarter valued at approximately $27,000. Qube Research & Technologies Ltd purchased a new stake in Climb Bio during the 2nd quarter valued at approximately $43,000. Virtu Financial LLC bought a new stake in shares of Climb Bio during the fourth quarter valued at approximately $43,000. Blair William & Co. IL purchased a new position in shares of Climb Bio in the fourth quarter worth $44,000. Finally, Marshall Wace LLP bought a new position in shares of Climb Bio during the second quarter worth $46,000. Hedge funds and other institutional investors own 69.76% of the company’s stock.

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.