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

Climb Bio, Inc. (NASDAQ:CLYM)’s stock price reached a new 52-week high 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 traded. The stock had previously closed at $7.25.

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

Insider Transactions at Climb Bio

In other news, Director Ra Capital Management, L.P. bought 101,462 shares of the firm’s stock in a transaction on Friday, December 12th. The shares were bought at an average cost of $2.86 per share, for a total transaction of $290,181.32. Following the acquisition, the director directly owned 3,396,318 shares of the company’s stock, valued at $9,713,469.48. This trade represents a 3.08% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. In the last three months, insiders acquired 321,672 shares of company stock valued at $779,626. 3.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Climb Bio

Several hedge funds and other institutional investors have recently made changes to their positions in CLYM. AQR Capital Management LLC purchased a new stake in Climb Bio during the first quarter worth approximately $27,000. Goldman Sachs Group Inc. purchased a new position in shares of Climb Bio in the 1st quarter valued at approximately $147,000. Y Intercept Hong Kong Ltd acquired a new position in Climb Bio in the 2nd quarter valued at $159,000. Nan Fung Trinity HK Ltd. acquired a new position in shares of Climb Bio during the second quarter worth about $575,000. Finally, Stonepine Capital Management LLC acquired a new position in Climb Bio during the 2nd quarter worth approximately $144,000. Hedge funds and other institutional investors own 69.76% of the company’s stock.

Climb Bio Price Performance

The stock has a market cap of $512.44 million, a PE ratio of -8.52 and a beta of -0.26. The company has a 50-day simple moving average of $5.25 and a 200-day simple moving average of $3.37.

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