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

Climb Bio, Inc. (NASDAQ:CLYM)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $12.48 and last traded at $12.18, with a volume of 1431085 shares trading hands. The stock had previously closed at $11.45.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CLYM. Guggenheim began coverage on Climb Bio in a report on Monday, June 8th. They set a “buy” rating and a $35.00 price target for the company. BTIG Research upped their price objective on shares of Climb Bio from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, June 11th. Truist Financial began coverage on shares of Climb Bio in a research note on Tuesday, March 17th. They issued a “buy” rating and a $17.00 target price for the company. B. Riley Financial initiated coverage on shares of Climb Bio in a report on Tuesday, March 24th. They issued a “buy” rating and a $26.00 target price on the stock. Finally, Mizuho assumed coverage on shares of Climb Bio in a research note on Wednesday, April 15th. They set an “outperform” rating and a $18.00 price target on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $21.73.

Climb Bio Stock Performance

The stock’s fifty day moving average price is $10.49 and its 200-day moving average price is $7.14. The firm has a market cap of $697.43 million, a PE ratio of -15.62 and a beta of 0.09.

Climb Bio (NASDAQ:CLYM) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.20) EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.06. Sell-side analysts forecast that Climb Bio, Inc. will post -0.87 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Climb Bio

Institutional investors and hedge funds have recently modified their holdings of the company. MPM Bioimpact LLC acquired a new position in Climb Bio during the fourth quarter worth $10,686,000. Price T Rowe Associates Inc. MD grew its holdings in Climb Bio by 265.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,923,639 shares of the company’s stock valued at $7,695,000 after purchasing an additional 1,396,722 shares during the last quarter. ADAR1 Capital Management LLC increased its position in shares of Climb Bio by 972.8% in the fourth quarter. ADAR1 Capital Management LLC now owns 1,432,475 shares of the company’s stock valued at $5,730,000 after buying an additional 1,298,945 shares in the last quarter. Sphera Funds Management LTD. increased its position in shares of Climb Bio by 114.4% in the fourth quarter. Sphera Funds Management LTD. now owns 932,247 shares of the company’s stock valued at $3,729,000 after buying an additional 497,410 shares in the last quarter. Finally, Kotler Kevin acquired a new position in shares of Climb Bio during the 4th quarter worth $1,600,000. Institutional investors and hedge funds 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.