Climb Bio (NASDAQ:CLYM) Shares Gap Down – Should You Sell?

Climb Bio, Inc. (NASDAQ:CLYM) shares gapped down before the market opened on Thursday . The stock had previously closed at $15.05, but opened at $13.96. Climb Bio shares last traded at $14.1320, with a volume of 1,581,492 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Climb Bio from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. BTIG Research increased their target price on shares of Climb Bio from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, June 11th. Robert W. Baird set a $21.00 price target on shares of Climb Bio in a research report on Wednesday, May 6th. Royal Bank Of Canada began coverage on shares of Climb Bio in a report on Monday, August 3rd. They issued an “outperform” rating and a $23.00 price target for the company. Finally, HC Wainwright upped their price objective on shares of Climb Bio from $20.00 to $24.00 and gave the company a “buy” rating in a research report on Monday, August 24th. Two investment 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 company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $23.08.

Climb Bio Price Performance

The stock’s 50-day moving average price is $13.95 and its 200 day moving average price is $10.69. The firm has a market cap of $812.26 million, a P/E ratio of -17.06 and a beta of 0.09.

Climb Bio (NASDAQ:CLYM) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.21) by $0.03. As a group, analysts forecast that Climb Bio, Inc. will post -0.82 EPS for the current fiscal year.

Institutional Trading of Climb Bio

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