Climb Bio (NASDAQ:CLYM) Trading Up 7.8% – Time to Buy?

Climb Bio, Inc. (NASDAQ:CLYM) shot up 7.8% during trading on Wednesday . The company traded as high as $10.28 and last traded at $10.4050. 68,830 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 688,390 shares. The stock had previously closed at $9.65.

Analyst Ratings Changes

A number of brokerages recently weighed in on CLYM. Oppenheimer increased their price target on shares of Climb Bio from $10.00 to $18.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 21st. Wedbush increased their price target on shares of Climb Bio from $15.00 to $17.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Climb Bio in a research note on Monday, April 20th. HC Wainwright increased their price target on shares of Climb Bio from $15.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Finally, B. Riley Financial began coverage on shares of Climb Bio in a research note on Tuesday, March 24th. They set a “buy” rating and a $26.00 price target for the company. Three investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Climb Bio has a consensus rating of “Buy” and a consensus target price of $20.30.

Climb Bio Trading Up 6.7%

The company has a market cap of $589.78 million, a price-to-earnings ratio of -13.23 and a beta of 0.02. The company’s 50 day moving average price is $8.49 and its 200 day moving average price is $5.57.

Climb Bio (NASDAQ:CLYM) last released its earnings results on Thursday, May 7th. The company reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.06. Sell-side analysts predict that Climb Bio, Inc. will post -0.89 earnings per share for the current year.

Institutional Trading of Climb Bio

Several hedge funds have recently made changes to their positions in the company. Peapod Lane Capital LLC lifted its stake in shares of Climb Bio by 0.7% in the 4th quarter. Peapod Lane Capital LLC now owns 565,992 shares of the company’s stock worth $2,264,000 after acquiring an additional 4,126 shares during the period. XTX Topco Ltd lifted its stake in shares of Climb Bio by 19.4% in the 4th 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. Virtu Financial LLC acquired a new stake in shares of Climb Bio in the 4th quarter worth $43,000. Blair William & Co. IL acquired a new stake in shares of Climb Bio in the 4th quarter worth $44,000. Finally, Hsbc Holdings PLC lifted its stake in shares of Climb Bio by 107.2% in the fourth quarter. Hsbc Holdings PLC now owns 24,744 shares of the company’s stock valued at $99,000 after purchasing an additional 12,800 shares during the period. Institutional investors and hedge funds own 69.76% of the company’s stock.

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.