Climb Bio (NASDAQ:CLYM) Shares Down 4.4% – Should You Sell?

Climb Bio, Inc. (NASDAQ:CLYM) fell 4.4% during mid-day trading on Friday . The company traded as low as $14.24 and last traded at $14.29. Approximately 601,135 shares traded hands during trading, a decline of 40% from the average daily volume of 998,953 shares. The stock had previously closed at $14.95.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on CLYM shares. Guggenheim initiated coverage on shares of Climb Bio in a research note on Monday, June 8th. They issued a “buy” rating and a $35.00 price target on the stock. Truist Financial increased their target price on Climb Bio from $17.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Mizuho raised Climb Bio to a “strong-buy” rating in a report on Monday, September 7th. Oppenheimer upped their price objective on Climb Bio from $18.00 to $25.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, B. Riley Financial reissued a “buy” rating and set a $30.00 target price (up from $26.00) on shares of Climb Bio in a report on Friday, September 4th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, Climb Bio has an average rating of “Buy” and a consensus price target of $26.92.

Climb Bio Trading Down 4.7%

The stock has a market cap of $818.52 million, a P/E ratio of -17.17 and a beta of 0.09. The stock has a 50 day simple moving average of $14.24 and a 200 day simple moving average of $11.12.

Climb Bio (NASDAQ:CLYM) last released its earnings results on Thursday, August 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.03. Equities analysts anticipate that Climb Bio, Inc. will post -0.78 earnings per share for the current year.

Hedge Funds Weigh In On Climb Bio

Several hedge funds have recently bought and sold shares of CLYM. Legal & General Group Plc acquired a new stake in shares of Climb Bio during the 2nd quarter worth approximately $45,000. XTX Topco Ltd raised its position in Climb Bio by 19.4% during the fourth quarter. XTX Topco Ltd now owns 34,852 shares of the company’s stock valued at $139,000 after purchasing an additional 5,668 shares in the last quarter. California State Teachers Retirement System acquired a new position in Climb Bio during the second quarter valued at approximately $82,000. Virtu Financial LLC bought a new stake in Climb Bio during the fourth quarter worth $43,000. Finally, Blair William & Co. IL bought a new stake in Climb Bio during the fourth quarter worth $44,000. 69.76% of the stock is owned by institutional investors.

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.