Climb Bio (NASDAQ:CLYM) Hits New 52-Week High – Should You Buy?

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

Analysts Set New Price Targets

Several research analysts have weighed in on CLYM shares. Truist Financial assumed coverage on shares of Climb Bio in a research report on Tuesday, March 17th. They set a “buy” rating and a $17.00 target price on the stock. Mizuho began 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. BTIG Research boosted their price target on Climb Bio from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, June 11th. HC Wainwright restated a “buy” rating and issued a $20.00 price target on shares of Climb Bio in a report on Wednesday, June 24th. Finally, Oppenheimer raised their price objective on Climb Bio from $10.00 to $18.00 and gave the company an “outperform” rating in a research note on Tuesday, April 21st. Three investment 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, the stock has a consensus rating of “Buy” and a consensus target price of $21.73.

Climb Bio Stock Performance

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

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

Hedge Funds Weigh In On Climb Bio

Several hedge funds have recently bought and sold shares of the stock. AQR Capital Management LLC acquired a new position in shares of Climb Bio in the first quarter worth $27,000. Qube Research & Technologies Ltd purchased a new stake in shares of Climb Bio in the second quarter valued at $43,000. Virtu Financial LLC acquired a new stake in shares of Climb Bio during the fourth quarter valued at $43,000. Blair William & Co. IL acquired a new stake in shares of Climb Bio during the fourth quarter valued at $44,000. Finally, Marshall Wace LLP purchased a new stake in Climb Bio during the 2nd quarter worth about $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.