Climb Bio (NASDAQ:CLYM) Shares Up 7.6% – Here’s What Happened

Climb Bio, Inc. (NASDAQ:CLYM)’s share price traded up 7.6% during trading on Monday . The company traded as high as $12.48 and last traded at $12.3150. 338,866 shares traded hands during trading, a decline of 57% from the average session volume of 780,472 shares. The stock had previously closed at $11.45.

Analyst Upgrades and Downgrades

Several research analysts have commented on CLYM shares. BTIG Research boosted their price target on shares of Climb Bio from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, June 11th. Oppenheimer raised their price objective on shares of Climb Bio from $10.00 to $18.00 and gave the company an “outperform” rating in a report on Tuesday, April 21st. Wall Street Zen raised shares of Climb Bio from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Wedbush reaffirmed an “outperform” rating and set a $17.00 price objective on shares of Climb Bio in a research report on Friday, June 12th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Climb Bio in a research note on Monday, April 20th. Three equities 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, Climb Bio presently has an average rating of “Buy” and an average price target of $21.73.

Climb Bio Price Performance

The firm has a market cap of $707.22 million, a PE ratio of -15.91 and a beta of 0.09. The company has a 50 day moving average price of $10.57 and a 200 day moving average price of $7.21.

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

Hedge Funds Weigh In On Climb Bio

Several institutional investors and hedge funds have recently modified their holdings of the company. AQR Capital Management LLC purchased a new stake in Climb Bio in the 1st quarter valued at about $27,000. Qube Research & Technologies Ltd purchased a new stake in Climb Bio in the second quarter valued at approximately $43,000. Virtu Financial LLC acquired a new position in Climb Bio during the fourth quarter worth approximately $43,000. Blair William & Co. IL purchased a new position in Climb Bio during the fourth quarter worth approximately $44,000. Finally, Marshall Wace LLP purchased a new position in Climb Bio during the second quarter worth approximately $46,000. 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.