Climb Bio (NASDAQ:CLYM) Shares Up 7.8% – What’s Next?

Climb Bio, Inc. (NASDAQ:CLYM)’s share price shot up 7.8% during trading on Wednesday . The stock traded as high as $10.28 and last traded at $10.4050. 68,830 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 688,390 shares. The stock had previously closed at $9.65.

Analysts Set New Price Targets

Several research firms have commented on CLYM. HC Wainwright upped their price objective on Climb Bio from $15.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Truist Financial initiated coverage on Climb Bio in a research report on Tuesday, March 17th. They set a “buy” rating and a $17.00 target price on the stock. Oppenheimer boosted their price objective on shares of Climb Bio from $10.00 to $18.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 21st. Mizuho began coverage on Climb Bio in a research report on Wednesday, April 15th. They set an “outperform” rating and a $18.00 target price on the stock. Finally, Raymond James Financial started coverage on Climb Bio in a research report on Tuesday, March 10th. They issued a “strong-buy” rating and a $25.00 price objective on the stock. Three research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $20.30.

Climb Bio Trading Up 0.2%

The firm has a market capitalization of $626.14 million, a price-to-earnings ratio of -14.01 and a beta of 0.02. The firm has a 50 day moving average price of $8.62 and a two-hundred day moving average price of $5.69.

Climb Bio (NASDAQ:CLYM) last announced its earnings results on Thursday, May 7th. The company reported ($0.20) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.06. As a group, research analysts forecast that Climb Bio, Inc. will post -0.89 earnings per share for the current year.

Institutional Trading of Climb Bio

A number of hedge funds and other institutional investors have recently modified their holdings of CLYM. AQR Capital Management LLC bought a new stake in shares of Climb Bio in the 1st quarter worth $27,000. Goldman Sachs Group Inc. bought a new stake in shares of Climb Bio in the 1st quarter worth $147,000. Marshall Wace LLP bought a new stake in shares of Climb Bio in the 2nd quarter worth $46,000. Qube Research & Technologies Ltd bought a new stake in shares of Climb Bio in the 2nd quarter worth $43,000. Finally, Jane Street Group LLC bought a new stake in shares of Climb Bio in the 2nd quarter worth $184,000. Institutional investors own 69.76% of the company’s stock.

Climb Bio Company Profile

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.