Climb Bio (NASDAQ:CLYM) Trading Up 4.3% - Time to Buy?

Key Points

• Climb Bio shares rose 4.3% to $14.3250, although trading volume was 75% below the average session volume.
• Analyst sentiment is broadly positive, with a consensus “Buy” rating and an average price target of $23.08, implying substantial upside from the recent price; however, one firm maintains a sell rating.
• The clinical-stage biotechnology company beat quarterly EPS expectations, reporting a loss of $0.18 per share versus the $0.21 consensus estimate. Institutional investors own approximately 69.76% of the stock.

Climb Bio, Inc. (NASDAQ:CLYM - Get Free Report)'s share price rose 4.3% on Tuesday . The company traded as high as $14.05 and last traded at $14.3250. 234,507 shares changed hands during trading, a decline of 75% from the average session volume of 946,627 shares. The stock had previously closed at $13.73.

Wall Street Analyst Weigh In

A number of research firms recently commented on CLYM. Guggenheim began coverage on Climb Bio in a research report on Monday, June 8th. They issued a "buy" rating and a $35.00 target price on the stock. Wedbush reaffirmed an "outperform" rating and issued a $20.00 price objective on shares of Climb Bio in a research note on Wednesday, August 19th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Climb Bio in a report on Friday, July 17th. Royal Bank Of Canada initiated coverage on Climb Bio in a research report on Monday, August 3rd. They set an "outperform" rating and a $23.00 target price for the company. Finally, Wall Street Zen raised shares of Climb Bio from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Climb Bio currently has a consensus rating of "Buy" and an average price target of $23.08.

Climb Bio Trading Up 8.0%

The company has a market capitalization of $851.84 million, a PE ratio of -17.84 and a beta of 0.08. The stock's 50-day moving average is $13.85 and its two-hundred day moving average is $10.56.

Climb Bio (NASDAQ:CLYM - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported ($0.18) EPS for the quarter, beating analysts' consensus estimates of ($0.21) by $0.03. On average, equities research analysts forecast that Climb Bio, Inc. will post -0.82 EPS for the current fiscal year.

Institutional Trading of Climb Bio

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC bought a new stake in shares of Climb Bio during the first quarter worth $27,000. Virtu Financial LLC bought a new position in shares of Climb Bio in the fourth quarter worth about $43,000. Qube Research & Technologies Ltd purchased a new position in Climb Bio in the 2nd quarter worth about $43,000. Blair William & Co. IL purchased a new position in Climb Bio in the 4th quarter worth about $44,000. Finally, Legal & General Group Plc bought a new stake in Climb Bio during the 2nd quarter valued at about $45,000. Hedge funds and other institutional investors 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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