Climb Bio (NASDAQ:CLYM) Trading 10.8% Higher – What’s Next?

Climb Bio, Inc. (NASDAQ:CLYM)’s share price shot up 10.8% during mid-day trading on Tuesday . The stock traded as high as $11.10 and last traded at $10.74. 964,065 shares traded hands during mid-day trading, an increase of 42% from the average session volume of 676,829 shares. The stock had previously closed at $9.69.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CLYM. Weiss Ratings restated a “sell (d-)” rating on shares of Climb Bio in a report on Monday, April 20th. Robert W. Baird upped their target price on shares of Climb Bio from $9.00 to $12.00 and gave the company an “outperform” rating in a report on Friday, March 6th. B. Riley Financial began coverage on shares of Climb Bio in a report on Tuesday, March 24th. They issued a “buy” rating and a $26.00 target price for the company. Piper Sandler began coverage on shares of Climb Bio in a report on Friday, February 13th. They issued an “overweight” rating for the company. Finally, Raymond James Financial began coverage on shares of Climb Bio in a report on Tuesday, March 10th. They issued a “strong-buy” rating and a $25.00 target price for the company. Three analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Climb Bio has an average rating of “Buy” and an average price target of $17.30.

Climb Bio Stock Performance

The firm’s 50-day moving average is $7.55 and its 200 day moving average is $4.87. The stock has a market cap of $548.39 million, a PE ratio of -12.90 and a beta of 0.02.

Climb Bio (NASDAQ:CLYM) last released its quarterly earnings results on Thursday, March 5th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.06). On average, sell-side analysts predict that Climb Bio, Inc. will post -1.11 EPS for the current fiscal year.

Institutional Trading of Climb Bio

Several institutional investors and hedge funds have recently bought and sold shares of CLYM. AQR Capital Management LLC purchased a new stake in Climb Bio in the 1st quarter valued at $27,000. Goldman Sachs Group Inc. purchased a new stake in Climb Bio in the 1st quarter valued at $147,000. Marshall Wace LLP purchased a new stake in Climb Bio in the 2nd quarter valued at $46,000. Qube Research & Technologies Ltd purchased a new stake in Climb Bio in the 2nd quarter valued at $43,000. Finally, Jane Street Group LLC purchased a new stake in Climb Bio in the 2nd quarter valued at $184,000. Hedge funds and other 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.