Climb Bio (NASDAQ:CLYM) Shares Up 10.9% Following Analyst Upgrade

Climb Bio, Inc. (NASDAQ:CLYM) shot up 10.9% on Monday after Wedbush raised their price target on the stock from $17.00 to $20.00. Wedbush currently has an outperform rating on the stock. Climb Bio traded as high as $14.25 and last traded at $14.24. Approximately 228,260 shares changed hands during trading, a decline of 75% from the average daily volume of 897,106 shares. The stock had previously closed at $12.84.

A number of other analysts have also recently commented on CLYM. Wall Street Zen upgraded Climb Bio from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Robert W. Baird set a $21.00 price objective on Climb Bio in a research report on Wednesday, May 6th. BTIG Research boosted their price objective on Climb Bio from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, June 11th. Mizuho started coverage on Climb Bio in a research note on Wednesday, April 15th. They set an “outperform” rating and a $18.00 price objective for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Climb Bio in a report on Friday, July 17th. Three investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Climb Bio currently has an average rating of “Buy” and an average target price of $22.00.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CLYM. AQR Capital Management LLC purchased a new stake in Climb Bio in the 1st quarter worth $27,000. Qube Research & Technologies Ltd purchased a new position in shares of Climb Bio in the second quarter valued at about $43,000. Virtu Financial LLC bought a new position in shares of Climb Bio in the fourth quarter worth about $43,000. Blair William & Co. IL bought a new position in shares of Climb Bio in the fourth quarter worth about $44,000. Finally, Marshall Wace LLP purchased a new stake in shares of Climb Bio during the second quarter worth about $46,000. Institutional investors own 69.76% of the company’s stock.

Climb Bio Price Performance

The firm has a 50-day moving average of $12.07 and a 200-day moving average of $8.81. The stock has a market cap of $732.36 million, a PE ratio of -16.40 and a beta of 0.07.

Climb Bio (NASDAQ:CLYM) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.20) EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.06. Equities analysts forecast that Climb Bio, Inc. will post -0.87 EPS 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.