Climb Bio (NASDAQ:CLYM) Shares Down 7.6% – Should You Sell?

Shares of Climb Bio, Inc. (NASDAQ:CLYM) traded down 7.6% during mid-day trading on Thursday . The company traded as low as $11.19 and last traded at $11.05. 91,209 shares traded hands during trading, a decline of 87% from the average session volume of 688,202 shares. The stock had previously closed at $11.96.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Chardan Capital assumed coverage on Climb Bio in a research note on Tuesday, May 5th. They set a “buy” rating and a $22.00 price target for the company. Mizuho assumed coverage on Climb Bio in a research note on Wednesday, April 15th. They set an “outperform” rating and a $18.00 price target for the company. Wedbush raised their price target on Climb Bio from $15.00 to $17.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. BTIG Research raised their price target on Climb Bio from $8.00 to $19.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Finally, B. Riley Financial initiated coverage on Climb Bio in a report on Tuesday, March 24th. They issued a “buy” rating and a $26.00 price target for the company. Three equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $20.30.

Climb Bio Stock Performance

The firm has a fifty day moving average price of $8.95 and a 200 day moving average price of $5.95. The stock has a market cap of $639.48 million, a PE ratio of -14.24 and a beta of 0.02.

Climb Bio (NASDAQ:CLYM) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.20) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.06. On average, equities research analysts forecast that Climb Bio, Inc. will post -0.89 earnings per share for the current year.

Institutional Trading of Climb Bio

Large investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC purchased a new stake in Climb Bio during the 1st quarter valued at about $27,000. Vanguard Personalized Indexing Management LLC purchased a new position in shares of Climb Bio during the 3rd quarter valued at about $29,000. Qube Research & Technologies Ltd purchased a new position in shares of Climb Bio during the 2nd quarter valued at about $43,000. Virtu Financial LLC purchased a new position in shares of Climb Bio during the 4th quarter valued at about $43,000. Finally, Blair William & Co. IL purchased a new position in shares of Climb Bio during the 4th quarter valued at about $44,000. Hedge funds and other 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.