Climb Bio, Inc. (NASDAQ:CLYM) Short Interest Update

Climb Bio, Inc. (NASDAQ:CLYM) was the recipient of a large decrease in short interest during the month of December. As of December 31st, there was short interest totaling 1,816,835 shares, a decrease of 18.1% from the December 15th total of 2,219,442 shares. Based on an average trading volume of 1,638,669 shares, the days-to-cover ratio is presently 1.1 days. Approximately 2.8% of the company’s shares are sold short. Approximately 2.8% of the company’s shares are sold short. Based on an average trading volume of 1,638,669 shares, the days-to-cover ratio is presently 1.1 days.

Climb Bio Stock Performance

Shares of CLYM traded up $0.45 during midday trading on Monday, hitting $4.22. The company had a trading volume of 693,899 shares, compared to its average volume of 831,483. Climb Bio has a 1 year low of $1.05 and a 1 year high of $5.19. The firm has a market capitalization of $287.72 million, a P/E ratio of -5.55 and a beta of -0.16. The company’s 50-day simple moving average is $3.10 and its 200-day simple moving average is $2.32.

Climb Bio (NASDAQ:CLYM) last issued its earnings results on Thursday, November 6th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.03). Equities analysts predict that Climb Bio will post -1.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on CLYM shares. Weiss Ratings restated a “sell (d-)” rating on shares of Climb Bio in a research report on Wednesday, October 8th. William Blair assumed coverage on Climb Bio in a research note on Thursday, October 16th. They set an “outperform” rating on the stock. BTIG Research restated a “buy” rating and set a $8.00 target price on shares of Climb Bio in a report on Thursday, October 16th. HC Wainwright lifted their target price on Climb Bio from $9.00 to $11.00 and gave the company a “buy” rating in a research report on Thursday, December 18th. Finally, Wall Street Zen cut shares of Climb Bio from a “hold” rating to a “strong sell” rating in a research report on Saturday, November 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Climb Bio currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.50.

Insider Buying and Selling at Climb Bio

In related news, Director Ra Capital Management, L.P. bought 213,099 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The stock was purchased at an average price of $2.18 per share, for a total transaction of $464,555.82. Following the acquisition, the director owned 3,294,856 shares of the company’s stock, 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 filing with the SEC, which is available at this hyperlink. Over the last three months, insiders have purchased 321,672 shares of company stock worth $779,626. Company insiders own 0.80% of the company’s stock.

Institutional Investors Weigh In On Climb Bio

Several institutional investors have recently modified their holdings of CLYM. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Climb Bio during the third quarter worth $29,000. AQR Capital Management LLC purchased a new stake in Climb Bio during the 1st quarter worth about $27,000. Qube Research & Technologies Ltd acquired a new position in shares of Climb Bio during the 2nd quarter worth about $43,000. Marshall Wace LLP purchased a new position in shares of Climb Bio in the 2nd quarter valued at about $46,000. Finally, Prelude Capital Management LLC purchased a new position in shares of Climb Bio in the 3rd quarter valued at about $82,000. 69.76% of the stock is owned by hedge funds and other institutional investors.

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.