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

Key Points

• Climb Bio reached a new 52-week high, trading as high as $18.33 before last changing hands at $17.84, up from a previous close of $16.40.
• Analyst sentiment is broadly positive: MarketBeat reports a consensus “Buy” rating from 15 analysts and an average price target of $23.08, although one firm maintains a sell rating.
• The company reported a quarterly loss of $0.18 per share, beating estimates of a $0.21 loss. Institutional investors own approximately 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 mid-day trading on Wednesday . The stock traded as high as $18.33 and last traded at $17.84, with a volume of 1198892 shares traded. The stock had previously closed at $16.40.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CLYM. Wall Street Zen raised Climb Bio from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. Chardan Capital assumed coverage on Climb Bio in a research note on Tuesday, May 5th. They issued a "buy" rating and a $22.00 price target for the company. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Climb Bio in a report on Friday, July 17th. BTIG Research lifted their price objective 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, Royal Bank Of Canada assumed coverage on shares of Climb Bio in a report on Monday, August 3rd. They issued an "outperform" rating and a $23.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Climb Bio has a consensus rating of "Buy" and an average target price of $23.08.

Climb Bio Price Performance

The stock has a 50-day moving average price of $13.59 and a two-hundred day moving average price of $10.29. The stock has a market cap of $1.02 billion, a PE ratio of -21.49 and a beta of 0.08.

Climb Bio (NASDAQ:CLYM - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported ($0.18) EPS for the quarter, topping analysts' consensus estimates of ($0.21) by $0.03. Equities research analysts expect that Climb Bio, Inc. will post -0.84 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Legal & General Group Plc bought a new stake in Climb Bio in the second quarter worth $45,000. XTX Topco Ltd grew its stake in shares of Climb Bio by 19.4% in the 4th quarter. XTX Topco Ltd now owns 34,852 shares of the company's stock worth $139,000 after buying an additional 5,668 shares in the last quarter. California State Teachers Retirement System purchased a new position in shares of Climb Bio in the 2nd quarter worth $82,000. Virtu Financial LLC bought a new stake in shares of Climb Bio in the 4th quarter worth about $43,000. Finally, Blair William & Co. IL bought a new stake in shares of Climb Bio in the 4th quarter worth about $44,000. 69.76% of the stock is currently owned by 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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