Climb Bio (NASDAQ:CLYM) Reaches New 52-Week High – Time to Buy?

Climb Bio, Inc. (NASDAQ:CLYM)’s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $14.55 and last traded at $14.39, with a volume of 1318254 shares. The stock had previously closed at $13.85.

Analysts Set New Price Targets

Several research firms have weighed in on CLYM. Wedbush lifted their target price on Climb Bio from $17.00 to $20.00 and gave the company an “outperform” rating in a research note on Monday, July 27th. Wall Street Zen raised shares of Climb Bio from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Robert W. Baird set a $21.00 price target on shares of Climb Bio in a report on Wednesday, May 6th. Chardan Capital started coverage on shares of Climb Bio in a research report on Tuesday, May 5th. They set a “buy” rating and a $22.00 price objective on the stock. Finally, Guggenheim initiated coverage on shares of Climb Bio in a research note on Monday, June 8th. They issued a “buy” rating and a $35.00 price objective on the stock. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Climb Bio currently has an average rating of “Buy” and an average price target of $22.75.

Climb Bio Stock Performance

The company has a market cap of $826.56 million, a price-to-earnings ratio of -17.34 and a beta of 0.08. The company’s 50 day moving average price is $12.53 and its 200 day moving average price is $9.53.

Climb Bio (NASDAQ:CLYM) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.03. On average, equities research analysts forecast that Climb Bio, Inc. will post -0.84 EPS for the current fiscal year.

Institutional Trading of Climb Bio

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Virtu Financial LLC bought a new stake in shares of Climb Bio during the 4th quarter worth about $43,000. Blair William & Co. IL bought a new position in shares of Climb Bio in the 4th quarter valued at approximately $44,000. Balyasny Asset Management L.P. acquired a new stake in Climb Bio in the 4th quarter worth approximately $57,000. State of Wyoming acquired a new stake in Climb Bio in the 2nd quarter worth approximately $187,000. Finally, AQR Capital Management LLC bought a new stake in Climb Bio during the first quarter worth approximately $27,000. Institutional investors and hedge funds 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.