Climb Bio (NASDAQ:CLYM) Hits New 52-Week High - Should You Buy?

Key Points

• Climb Bio reached a new 52-week high of $17.53, with the stock last trading at $17.39 and a market capitalization of approximately $999 million.
• Analysts are broadly bullish, with a consensus “Buy” rating and an average price target of $22.75; individual targets range from $20 to $25, though Weiss Ratings maintained a “sell” rating.
• The company exceeded quarterly EPS expectations, reporting a loss of $0.18 per share versus the expected $0.21 loss. Institutional investors own 69.76% of the stock, while analysts expect a full-year loss of $0.84 per share.

Climb Bio, Inc. (NASDAQ:CLYM - Get Free Report)'s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $17.53 and last traded at $17.39, with a volume of 1159408 shares changing hands. The stock had previously closed at $17.44.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CLYM. BTIG Research boosted their price objective on shares of Climb Bio from $19.00 to $20.00 and gave the stock a "buy" rating in a report on Thursday, June 11th. Wedbush increased their target price on Climb Bio from $17.00 to $20.00 and gave the company an "outperform" rating in a research note on Monday, July 27th. Weiss Ratings reissued a "sell (d-)" rating on shares of Climb Bio in a report on Friday, July 17th. Robert W. Baird set a $21.00 price target on Climb Bio in a research note on Wednesday, May 6th. Finally, Truist Financial upped their price target on Climb Bio from $17.00 to $25.00 and gave the company a "buy" rating in a report on Friday, August 7th. 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 company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $22.75.

Climb Bio Stock Down 0.3%

The stock has a market capitalization of $998.88 million, a PE ratio of -20.95 and a beta of 0.08. The firm's fifty day moving average price is $12.98 and its two-hundred day moving average price is $9.85.

Climb Bio (NASDAQ:CLYM - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.03. As a group, analysts predict that Climb Bio, Inc. will post -0.84 EPS for the current year.

Institutional Trading of Climb Bio

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC bought a new stake in shares of Climb Bio during the 1st quarter valued at $27,000. Goldman Sachs Group Inc. bought a new position in Climb Bio in the 1st quarter worth approximately $147,000. Marshall Wace LLP purchased a new stake in Climb Bio during the second quarter valued at approximately $46,000. Qube Research & Technologies Ltd purchased a new stake in Climb Bio during the second quarter valued at approximately $43,000. Finally, Jane Street Group LLC bought a new stake in shares of Climb Bio in the 2nd quarter valued at approximately $184,000. 69.76% of the stock is owned by hedge funds and other 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.

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