Climb Bio (NASDAQ:CLYM) Shares Up 6.7% – Still a Buy?

Climb Bio, Inc. (NASDAQ:CLYM)’s share price was up 6.7% on Friday . The company traded as high as $13.35 and last traded at $13.42. 348,917 shares changed hands during mid-day trading, a decline of 61% from the average session volume of 897,481 shares. The stock had previously closed at $12.58.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Mizuho assumed coverage on Climb Bio in a report on Wednesday, April 15th. They set an “outperform” rating and a $18.00 price target for the company. Guggenheim initiated coverage on Climb Bio in a research report on Monday, June 8th. They set a “buy” rating and a $35.00 target price on the stock. Chardan Capital initiated coverage on Climb Bio in a research note on Tuesday, May 5th. They set a “buy” rating and a $22.00 target price for the company. Wedbush restated an “outperform” rating and set a $17.00 target price on shares of Climb Bio in a research note on Friday, June 12th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $20.00 price target on shares of Climb Bio in a report on Wednesday, June 24th. Three equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $21.73.

Climb Bio Trading Up 1.0%

The stock has a market capitalization of $727.24 million, a price-to-earnings ratio of -16.28 and a beta of 0.07. The company’s 50 day moving average is $11.86 and its 200 day moving average is $8.40.

Climb Bio (NASDAQ:CLYM) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.06. Analysts anticipate that Climb Bio, Inc. will post -0.87 EPS for the current fiscal year.

Institutional Trading of Climb Bio

A number of large investors have recently made changes to their positions in the company. AQR Capital Management LLC acquired a new position in Climb Bio during the first quarter worth approximately $27,000. Qube Research & Technologies Ltd acquired a new stake in shares of Climb Bio in the second quarter valued at approximately $43,000. Virtu Financial LLC purchased a new position in shares of Climb Bio during the fourth quarter worth approximately $43,000. Blair William & Co. IL purchased a new position in shares of Climb Bio during the fourth quarter worth approximately $44,000. Finally, Marshall Wace LLP purchased a new position in shares of Climb Bio during the second quarter worth approximately $46,000. 69.76% of the stock is owned by institutional investors and hedge funds.

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.