Climb Bio (NASDAQ:CLYM) Trading Up 10.1% – What’s Next?

Climb Bio, Inc. (NASDAQ:CLYM)’s share price was up 10.1% during trading on Monday . The stock traded as high as $11.79 and last traded at $11.6150. Approximately 254,848 shares traded hands during mid-day trading, a decline of 65% from the average daily volume of 728,371 shares. The stock had previously closed at $10.55.

Analyst Ratings Changes

Several equities research analysts have commented on CLYM shares. Wall Street Zen raised Climb Bio from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Wedbush upped their price target on shares of Climb Bio from $15.00 to $17.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Chardan Capital assumed coverage on shares of Climb Bio in a research note on Tuesday, May 5th. They issued a “buy” rating and a $22.00 price target on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Climb Bio in a research note on Monday, April 20th. Finally, Raymond James Financial assumed coverage on shares of Climb Bio in a research note on Tuesday, March 10th. They issued a “strong-buy” rating and a $25.00 price target on the stock. Three 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 company. According to data from MarketBeat.com, Climb Bio currently has a consensus rating of “Buy” and a consensus price target of $21.64.

Climb Bio Stock Up 3.4%

The stock has a market capitalization of $637.88 million, a P/E ratio of -14.28 and a beta of 0.09. The business has a fifty day moving average price of $9.70 and a 200-day moving average price of $6.53.

Climb Bio (NASDAQ:CLYM) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.06. On average, equities analysts expect that Climb Bio, Inc. will post -0.87 earnings per share for the current fiscal year.

Institutional Trading of Climb Bio

A number of large investors have recently made changes to their positions in the stock. MPM Bioimpact LLC bought a new stake in shares of Climb Bio in the fourth quarter worth approximately $10,686,000. Price T Rowe Associates Inc. MD grew its stake in shares of Climb Bio by 265.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,923,639 shares of the company’s stock worth $7,695,000 after acquiring an additional 1,396,722 shares during the period. ADAR1 Capital Management LLC grew its stake in shares of Climb Bio by 972.8% in the fourth quarter. ADAR1 Capital Management LLC now owns 1,432,475 shares of the company’s stock worth $5,730,000 after acquiring an additional 1,298,945 shares during the period. Sphera Funds Management LTD. grew its stake in shares of Climb Bio by 114.4% in the fourth quarter. Sphera Funds Management LTD. now owns 932,247 shares of the company’s stock worth $3,729,000 after acquiring an additional 497,410 shares during the period. Finally, Peapod Lane Capital LLC lifted its holdings in shares of Climb Bio by 0.7% during the 4th quarter. Peapod Lane Capital LLC now owns 565,992 shares of the company’s stock valued at $2,264,000 after buying an additional 4,126 shares during the period. 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.