Climb Bio (NASDAQ:CLYM) Trading 8.9% Higher - Should You Buy?

Key Points

• Climb Bio shares rose 8.9% to $17.855 in Tuesday trading, though volume was 86% below the average daily level.
• Analysts remain broadly optimistic: the stock has an overall “Buy” rating and a consensus price target of $23.08, implying potential upside from its latest price.
• The clinical-stage biotechnology company beat quarterly EPS estimates with a loss of $0.18 per share versus the expected $0.21 loss, but analysts project a full-year loss of $0.84 per share.

Climb Bio, Inc. (NASDAQ:CLYM - Get Free Report) traded up 8.9% during trading on Tuesday . The company traded as high as $17.36 and last traded at $17.8550. Approximately 133,666 shares traded hands during trading, a decline of 86% from the average daily volume of 935,836 shares. The stock had previously closed at $16.40.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Robert W. Baird set a $21.00 target price on shares of Climb Bio in a research note on Wednesday, May 6th. Royal Bank Of Canada initiated coverage on shares of Climb Bio in a research report on Monday, August 3rd. They set an "outperform" rating and a $23.00 price target on the stock. Truist Financial lifted their price objective on shares of Climb Bio from $17.00 to $25.00 and gave the company a "buy" rating in a report on Friday, August 7th. BTIG Research upped their price objective on shares of Climb Bio from $19.00 to $20.00 and gave the stock a "buy" rating in a research report on Thursday, June 11th. Finally, HC Wainwright raised their target price on Climb Bio from $20.00 to $24.00 and gave the company a "buy" rating in a research report on Monday. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $23.08.

Climb Bio Stock Performance

The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of -21.52 and a beta of 0.08. The company has a 50 day moving average price of $13.45 and a two-hundred day moving average price of $10.20.

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 (EPS) for the quarter, beating analysts' consensus estimates of ($0.21) by $0.03. On average, equities analysts expect that Climb Bio, Inc. will post -0.84 earnings per share for the current fiscal year.

Institutional Trading of Climb Bio

Institutional investors have recently modified their holdings of the stock. Legal & General Group Plc acquired a new position in shares of Climb Bio during the 2nd quarter worth about $45,000. XTX Topco Ltd boosted its holdings in 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 during the last quarter. California State Teachers Retirement System purchased a new stake in Climb Bio during the 2nd quarter worth approximately $82,000. Virtu Financial LLC purchased a new stake in Climb Bio during the 4th quarter worth approximately $43,000. Finally, Blair William & Co. IL acquired a new position in shares of Climb Bio during the fourth quarter valued at approximately $44,000. Institutional investors and hedge funds own 69.76% of the company's stock.

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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