Climb Bio (NASDAQ:CLYM) Sets New 12-Month High – Time to Buy?

Climb Bio, Inc. (NASDAQ:CLYM) hit a new 52-week high during mid-day trading 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.

Analysts Set New Price Targets

CLYM has been the topic of several recent analyst reports. BTIG Research increased their price target on Climb Bio from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, June 11th. Truist Financial began coverage on Climb Bio in a report on Tuesday, March 17th. They set a “buy” rating and a $17.00 price objective for the company. Mizuho started coverage on Climb Bio in a research note on Wednesday, April 15th. They issued an “outperform” rating and a $18.00 target price on the stock. Chardan Capital assumed coverage on Climb Bio in a research report on Tuesday, May 5th. They set a “buy” rating and a $22.00 target price for the company. Finally, Wedbush reissued an “outperform” rating and set a $17.00 target price on shares of Climb Bio in a research note on Friday, June 12th. Three equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Climb Bio presently has an average rating of “Buy” and a consensus target price of $21.73.

Climb Bio Stock Up 1.1%

The stock has a market capitalization of $768.43 million, a P/E ratio of -17.21 and a beta of 0.07. The stock’s 50 day moving average price is $11.39 and its 200-day moving average price is $7.94.

Climb Bio (NASDAQ:CLYM) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.20) EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.06. Analysts anticipate that Climb Bio, Inc. will post -0.87 earnings per share for the current year.

Institutional Investors Weigh In On Climb Bio

A number of institutional investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC bought a new position in Climb Bio in the first quarter worth about $27,000. Goldman Sachs Group Inc. bought a new stake in shares of Climb Bio in the 1st quarter valued at about $147,000. Marshall Wace LLP purchased a new position in shares of Climb Bio in the 2nd quarter worth approximately $46,000. Qube Research & Technologies Ltd purchased a new position in shares of Climb Bio in the 2nd quarter worth approximately $43,000. Finally, Jane Street Group LLC bought a new position in shares of Climb Bio during the 2nd quarter worth approximately $184,000. Institutional investors own 69.76% of the company’s stock.

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.