Climb Bio Target of Unusually Large Options Trading (NASDAQ:CLYM)

Climb Bio, Inc. (NASDAQ:CLYM) was the recipient of unusually large options trading activity on Thursday. Investors purchased 7,091 put options on the company. This is an increase of 1,046% compared to the average volume of 619 put options.

Institutional Investors Weigh In On Climb Bio

A number of institutional investors and hedge funds have recently bought and sold shares of CLYM. Legal & General Group Plc purchased a new position in shares of Climb Bio in the 2nd quarter worth $45,000. California State Teachers Retirement System bought a new stake in Climb Bio during the second quarter worth approximately $82,000. Virtu Financial LLC purchased a new stake in Climb Bio during the fourth quarter valued at approximately $43,000. Blair William & Co. IL purchased a new stake in Climb Bio during the fourth quarter valued at approximately $44,000. Finally, Balyasny Asset Management L.P. bought a new stake in shares of Climb Bio in the 4th quarter valued at approximately $57,000. 69.76% of the stock is owned by institutional investors.

Climb Bio Trading Down 3.3%

CLYM stock opened at $14.57 on Friday. Climb Bio has a 1-year low of $1.54 and a 1-year high of $18.33. The stock has a market cap of $836.90 million, a price-to-earnings ratio of -17.55 and a beta of 0.08. The company’s 50 day moving average is $13.82 and its 200 day moving average is $10.46.

Climb Bio (NASDAQ:CLYM) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.18) EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.03. As a group, sell-side analysts forecast that Climb Bio will post -0.82 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on CLYM shares. Chardan Capital started coverage on shares of Climb Bio in a research note on Tuesday, May 5th. They set a “buy” rating and a $22.00 price objective for the company. Truist Financial increased their target price on shares of Climb Bio from $17.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Royal Bank Of Canada initiated coverage on shares of Climb Bio in a report on Monday, August 3rd. They issued an “outperform” rating and a $23.00 price target for the company. BTIG Research boosted their price target on shares of Climb Bio from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, June 11th. Finally, Robert W. Baird set a $21.00 price target on shares of Climb Bio in a report on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $23.08.

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.