Climb Bio (NASDAQ:CLYM) Stock Price Up 4.3% – Should You Buy?

Climb Bio, Inc. (NASDAQ:CLYM) shot up 4.3% on Tuesday . The stock traded as high as $14.05 and last traded at $14.3250. 234,507 shares were traded during mid-day trading, a decline of 75% from the average session volume of 946,627 shares. The stock had previously closed at $13.73.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CLYM. BTIG Research raised their price target on Climb Bio from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, June 11th. HC Wainwright boosted their target price on shares of Climb Bio from $20.00 to $24.00 and gave the stock a “buy” rating in a report on Monday, August 24th. Royal Bank Of Canada began coverage on shares of Climb Bio in a research note on Monday, August 3rd. They issued an “outperform” rating and a $23.00 price target for the company. Wedbush restated an “outperform” rating and set a $20.00 price objective on shares of Climb Bio in a research note on Wednesday, August 19th. Finally, Guggenheim began coverage on shares of Climb Bio in a report on Monday, June 8th. They issued a “buy” rating and a $35.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $23.08.

Climb Bio Stock Performance

The firm has a fifty day simple moving average of $13.95 and a 200-day simple moving average of $10.69. The firm has a market cap of $864.47 million, a price-to-earnings ratio of -18.13 and a beta of 0.09.

Climb Bio (NASDAQ:CLYM) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.03. Analysts expect that Climb Bio, Inc. will post -0.82 earnings per share for the current fiscal year.

Institutional Trading of Climb Bio

Institutional investors have recently added to or reduced their stakes in the company. Legal & General Group Plc bought a new position in Climb Bio during the 2nd quarter worth $45,000. XTX Topco Ltd grew its stake in shares of Climb Bio by 19.4% in the fourth quarter. XTX Topco Ltd now owns 34,852 shares of the company’s stock valued at $139,000 after acquiring an additional 5,668 shares in the last quarter. California State Teachers Retirement System bought a new position in Climb Bio during the second quarter worth about $82,000. Virtu Financial LLC bought a new position in Climb Bio during the fourth quarter worth about $43,000. Finally, Blair William & Co. IL acquired a new stake in Climb Bio in the 4th quarter worth about $44,000. 69.76% of the stock is currently owned by institutional investors.

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.