Climb Bio (NASDAQ:CLYM) Shares Up 8.2% – Still a Buy?
by Sarita Garza · The Markets DailyClimb Bio, Inc. (NASDAQ:CLYM – Get Free Report) shares shot up 8.2% on Friday . The company traded as high as $15.46 and last traded at $15.9340. 372,810 shares were traded during trading, a decline of 59% from the average daily volume of 915,440 shares. The stock had previously closed at $14.73.
Wall Street Analyst Weigh In
CLYM has been the subject of a number of recent analyst reports. Truist Financial increased their price target on shares of Climb Bio from $17.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Climb Bio in a report on Friday, July 17th. BTIG Research lifted their price target on Climb Bio from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, June 11th. Wall Street Zen raised Climb Bio from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Guggenheim began coverage on Climb Bio in a research note on Monday, June 8th. They issued a “buy” rating and a $35.00 price objective on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $22.75.
Read Our Latest Research Report on CLYM
Climb Bio Stock Performance
The firm has a market cap of $971.88 million, a P/E ratio of -20.40 and a beta of 0.08. The firm’s fifty day moving average is $12.61 and its 200 day moving average is $9.60.
Climb Bio (NASDAQ:CLYM – Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.03. As a group, equities research analysts forecast that Climb Bio, Inc. will post -0.84 EPS for the current year.
Institutional Trading of Climb Bio
Several hedge funds have recently added to or reduced their stakes in CLYM. Seven Fleet Capital Management LP acquired a new stake in shares of Climb Bio during the fourth quarter worth $306,000. ArchPoint Investors acquired a new position in shares of Climb Bio in the fourth quarter valued at about $486,000. 683 Capital Management LLC bought a new position in Climb Bio during the fourth quarter worth about $807,000. The Manufacturers Life Insurance Company increased its position in Climb Bio by 11.2% during the first quarter. The Manufacturers Life Insurance Company now owns 156,317 shares of the company’s stock worth $1,071,000 after acquiring an additional 15,700 shares during the period. Finally, The Manufacturers Life Insurance Company acquired a new stake in Climb Bio in the 2nd quarter worth about $2,148,000. 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.