Climb Bio (NASDAQ:CLYM) Trading 4.3% Higher – Here’s What Happened

Climb Bio, Inc. (NASDAQ:CLYM)’s stock price traded up 4.3% during trading on Tuesday . The company traded as high as $14.05 and last traded at $14.3250. 234,507 shares traded hands during trading, a decline of 75% from the average daily volume of 946,627 shares. The stock had previously closed at $13.73.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CLYM. BTIG Research boosted their price target on Climb Bio from $19.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, June 11th. Guggenheim assumed coverage on Climb Bio in a research report on Monday, June 8th. They set a “buy” rating and a $35.00 target price for the company. Royal Bank Of Canada initiated coverage on Climb Bio in a report on Monday, August 3rd. They issued an “outperform” rating and a $23.00 target price for the company. HC Wainwright increased their price target on Climb Bio from $20.00 to $24.00 and gave the stock a “buy” rating in a research report on Monday, August 24th. Finally, 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 on the stock. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $23.08.

Climb Bio Price Performance

The company has a market cap of $851.84 million, a PE ratio of -17.84 and a beta of 0.08. The business has a fifty day simple moving average of $13.85 and a two-hundred day simple moving average of $10.56.

Climb Bio (NASDAQ:CLYM) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.03. On average, equities research analysts predict that Climb Bio, Inc. will post -0.82 EPS for the current year.

Hedge Funds Weigh In On Climb Bio

A number of large investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System purchased a new stake in Climb Bio during the second quarter valued at approximately $82,000. Braidwell LP grew its stake in Climb Bio by 102.6% during the 2nd quarter. Braidwell LP now owns 3,099,027 shares of the company’s stock worth $40,411,000 after buying an additional 1,569,352 shares during the last quarter. Wellington Management Group LLP acquired a new position in Climb Bio during the 2nd quarter valued at about $1,262,000. Bank of America Corp DE acquired a new position in Climb Bio during the 2nd quarter valued at about $335,000. Finally, ADAR1 Capital Management LLC purchased a new stake in Climb Bio in the second quarter valued at about $10,727,000. 69.76% of the stock is currently owned by institutional investors.

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.