Climb Bio (NASDAQ:CLYM) Stock Price Down 10.3% – Here’s Why

Climb Bio, Inc. (NASDAQ:CLYM) traded down 10.3% on Monday . The stock traded as low as $9.76 and last traded at $9.69. 295,503 shares were traded during trading, a decline of 57% from the average session volume of 693,097 shares. The stock had previously closed at $10.80.

Wall Street Analyst Weigh In

CLYM has been the subject of several research reports. Oppenheimer increased their price objective on shares of Climb Bio from $10.00 to $18.00 and gave the company an “outperform” rating in a research report on Tuesday, April 21st. Weiss Ratings restated a “sell (d-)” rating on shares of Climb Bio in a research report on Monday, April 20th. Chardan Capital initiated coverage on shares of Climb Bio in a research note on Tuesday, May 5th. They issued a “buy” rating and a $22.00 target price on the stock. HC Wainwright increased their target price on shares of Climb Bio from $15.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Finally, Robert W. Baird set a $21.00 target price on shares of Climb Bio in a research note on Wednesday, May 6th. Three research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $20.30.

Climb Bio Trading Down 9.9%

The firm has a market cap of $557.43 million, a PE ratio of -12.43 and a beta of 0.02. The business’s 50-day simple moving average is $8.39 and its 200 day simple moving average is $5.46.

Climb Bio (NASDAQ:CLYM) last posted its earnings results on Thursday, May 7th. The company reported ($0.20) EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.06. Analysts expect that Climb Bio, Inc. will post -0.9 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in CLYM. The Manufacturers Life Insurance Company grew its position in Climb Bio by 11.2% during the 1st quarter. The Manufacturers Life Insurance Company now owns 156,317 shares of the company’s stock worth $1,071,000 after purchasing an additional 15,700 shares during the last quarter. Dimensional Fund Advisors LP purchased a new stake in Climb Bio during the first quarter worth $715,000. Hsbc Holdings PLC boosted its position in Climb Bio by 107.2% during the fourth quarter. Hsbc Holdings PLC now owns 24,744 shares of the company’s stock worth $99,000 after purchasing an additional 12,800 shares in the last quarter. Seven Fleet Capital Management LP purchased a new position in Climb Bio during the fourth quarter valued at $306,000. Finally, Virtu Financial LLC purchased a new position in Climb Bio during the fourth quarter valued at $43,000. 69.76% of the stock is 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.