Climb Bio (NASDAQ:CLYM) Shares Up 6.7% - Should You Buy?

Key Points

• Climb Bio shares rose 6.7% in mid-day trading, reaching as high as $13.35 after closing at $12.58 the prior session. Trading volume was well below average, with about 348,917 shares changing hands.
• Wall Street sentiment on the biotech name remains constructive, with multiple analysts issuing buy or outperform ratings. The stock now has an average analyst target price of $21.73.
• Climb Bio recently reported a smaller-than-expected quarterly loss, posting EPS of -$0.20 versus the -$0.26 consensus estimate. Institutional investors also hold a sizable stake, owning about 69.76% of the company.

Climb Bio, Inc. (NASDAQ:CLYM - Get Free Report)'s share price was up 6.7% during mid-day trading on Friday . The company traded as high as $13.35 and last traded at $13.42. Approximately 348,917 shares were traded during trading, a decline of 61% from the average daily volume of 897,481 shares. The stock had previously closed at $12.58.

Analyst Upgrades and Downgrades

CLYM has been the subject of a number of recent analyst reports. Oppenheimer raised their price objective on shares of Climb Bio from $10.00 to $18.00 and gave the company an "outperform" rating in a research report on Tuesday, April 21st. HC Wainwright reissued a "buy" rating and set a $20.00 target price on shares of Climb Bio in a research note on Wednesday, June 24th. Wall Street Zen upgraded Climb Bio from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. BTIG Research upped their price objective on Climb Bio from $19.00 to $20.00 and gave the stock a "buy" rating in a report on Thursday, June 11th. Finally, B. Riley Financial initiated coverage on Climb Bio in a research report on Tuesday, March 24th. They issued a "buy" rating and a $26.00 price objective for the company. Three research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Climb Bio presently has an average rating of "Buy" and an average target price of $21.73.

Climb Bio Price Performance

The firm's 50-day simple moving average is $11.83 and its two-hundred day simple moving average is $8.37. The company has a market capitalization of $769.00 million, a price-to-earnings ratio of -17.10 and a beta of 0.07.

Climb Bio (NASDAQ:CLYM - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.26) by $0.06. On average, analysts expect that Climb Bio, Inc. will post -0.87 EPS for the current fiscal year.

Institutional Trading of Climb Bio

Several large investors have recently bought and sold shares of the company. Virtu Financial LLC acquired a new stake in Climb Bio in the 4th quarter valued at about $43,000. Blair William & Co. IL purchased a new stake in shares of Climb Bio in the fourth quarter valued at about $44,000. Balyasny Asset Management L.P. acquired a new stake in shares of Climb Bio in the fourth quarter valued at approximately $57,000. AQR Capital Management LLC acquired a new stake in shares of Climb Bio in the first quarter valued at approximately $27,000. Finally, Hsbc Holdings PLC increased its stake in shares of Climb Bio by 107.2% during the 4th quarter. Hsbc Holdings PLC now owns 24,744 shares of the company's stock worth $99,000 after purchasing an additional 12,800 shares in the last quarter. 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.

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