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

Climb Bio, Inc. (NASDAQ:CLYM) hit a new 52-week high on Thursday . The company traded as high as $7.40 and last traded at $7.38, with a volume of 931851 shares trading hands. The stock had previously closed at $7.09.

Wall Street Analysts Forecast Growth

CLYM has been the topic of several analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Climb Bio in a report on Wednesday, January 21st. HC Wainwright increased their price target on shares of Climb Bio from $9.00 to $11.00 and gave the stock a “buy” rating in a research note on Thursday, December 18th. Wall Street Zen downgraded shares of Climb Bio from a “hold” rating to a “strong sell” rating in a report on Saturday, November 8th. Finally, Piper Sandler began coverage on Climb Bio in a research report on Friday, February 13th. They issued an “overweight” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $9.50.

Climb Bio Trading Up 4.1%

The company has a market cap of $503.17 million, a PE ratio of -9.71 and a beta of -0.15. The business has a 50 day simple moving average of $4.84 and a two-hundred day simple moving average of $3.06.

Insider Buying and Selling

In other news, Director Ra Capital Management, L.P. purchased 101,462 shares of the company’s stock in a transaction on Friday, December 12th. The stock was bought at an average cost of $2.86 per share, for a total transaction of $290,181.32. Following the completion of the purchase, the director directly owned 3,396,318 shares of the company’s stock, valued at $9,713,469.48. The trade was a 3.08% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last three months, insiders bought 321,672 shares of company stock valued at $779,626. 0.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Climb Bio

Several hedge funds and other institutional investors have recently modified their holdings of CLYM. AQR Capital Management LLC acquired a new stake in Climb Bio during the 1st quarter worth approximately $27,000. Vanguard Personalized Indexing Management LLC purchased a new stake in Climb Bio during the third quarter worth approximately $29,000. Virtu Financial LLC purchased a new stake in Climb Bio during the fourth quarter worth approximately $43,000. Qube Research & Technologies Ltd acquired a new stake in shares of Climb Bio in the second quarter worth $43,000. Finally, Blair William & Co. IL purchased a new position in shares of Climb Bio in the 4th quarter valued at $44,000. 69.76% of the stock is owned by institutional investors and hedge funds.

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.