Climb Bio (NASDAQ:CLYM) Sets New 12-Month High Following Analyst Upgrade

Climb Bio, Inc. (NASDAQ:CLYM)’s share price hit a new 52-week high during trading on Tuesday after HC Wainwright raised their price target on the stock from $11.00 to $15.00. HC Wainwright currently has a buy rating on the stock. Climb Bio traded as high as $8.04 and last traded at $7.5490, with a volume of 237380 shares. The stock had previously closed at $7.25.

Several other brokerages also recently issued reports on CLYM. Robert W. Baird increased their price target on Climb Bio from $9.00 to $12.00 and gave the stock an “outperform” rating in a report on Friday, March 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Climb Bio in a report on Wednesday, January 21st. Piper Sandler assumed coverage on Climb Bio in a research report on Friday, February 13th. They issued an “overweight” rating for the company. Finally, Wedbush began coverage on Climb Bio in a research note on Thursday, March 5th. They set an “outperform” rating and a $12.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $11.40.

Insiders Place Their Bets

In related news, Director Ra Capital Management, L.P. bought 213,099 shares of Climb Bio stock in a transaction that occurred on Thursday, December 11th. The stock was purchased at an average cost of $2.18 per share, with a total value of $464,555.82. Following the purchase, the director owned 3,294,856 shares in the company, valued at approximately $7,182,786.08. This trade represents a 6.91% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders have acquired 321,672 shares of company stock valued at $779,626. 3.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CLYM. AQR Capital Management LLC bought a new position in shares of Climb Bio during the first quarter worth about $27,000. Vanguard Personalized Indexing Management LLC acquired a new stake in Climb Bio in the 3rd quarter valued at approximately $29,000. Qube Research & Technologies Ltd bought a new stake in Climb Bio in the 2nd quarter valued at approximately $43,000. Virtu Financial LLC bought a new stake in Climb Bio in the 4th quarter valued at approximately $43,000. Finally, Blair William & Co. IL acquired a new position in Climb Bio during the 4th quarter worth approximately $44,000. 69.76% of the stock is owned by institutional investors and hedge funds.

Climb Bio Stock Performance

The stock has a market cap of $499.76 million, a price-to-earnings ratio of -8.24 and a beta of -0.25. The business has a 50-day simple moving average of $5.32 and a two-hundred day simple moving average of $3.40.

Climb Bio (NASDAQ:CLYM) last posted its quarterly earnings data on Thursday, March 5th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.06). On average, analysts expect that Climb Bio, Inc. will post -1.57 earnings per share for the current fiscal year.

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.