Climb Bio (NASDAQ:CLYM) Shares Gap Up Following Analyst Upgrade

Climb Bio, Inc. (NASDAQ:CLYM)’s stock price gapped up before the market opened on Wednesday after HC Wainwright raised their price target on the stock from $11.00 to $15.00. The stock had previously closed at $7.33, but opened at $7.80. HC Wainwright currently has a buy rating on the stock. Climb Bio shares last traded at $7.4550, with a volume of 117,027 shares.

Several other equities analysts also recently commented on CLYM. Weiss Ratings reissued a “sell (d-)” rating on shares of Climb Bio in a research note on Wednesday, January 21st. Robert W. Baird upped their price target on shares of Climb Bio from $9.00 to $12.00 and gave the stock an “outperform” rating in a report on Friday, March 6th. Piper Sandler began coverage on Climb Bio in a research note on Friday, February 13th. They issued an “overweight” rating for the company. Finally, Wedbush assumed coverage on Climb Bio in a report on Thursday, March 5th. They set an “outperform” rating and a $12.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $11.40.

Insider Transactions at Climb Bio

In other Climb Bio news, Director Ra Capital Management, L.P. bought 213,099 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The shares were acquired at an average cost of $2.18 per share, for a total transaction of $464,555.82. Following the transaction, the director directly owned 3,294,856 shares in the company, valued at approximately $7,182,786.08. This represents a 6.91% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders have purchased 321,672 shares of company stock valued at $779,626. 3.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. MPM Bioimpact LLC bought a new position in shares of Climb Bio during the fourth quarter worth about $10,686,000. Price T Rowe Associates Inc. MD increased its position in Climb Bio by 265.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,923,639 shares of the company’s stock valued at $7,695,000 after purchasing an additional 1,396,722 shares during the period. ADAR1 Capital Management LLC raised its holdings in Climb Bio by 972.8% during the 4th quarter. ADAR1 Capital Management LLC now owns 1,432,475 shares of the company’s stock worth $5,730,000 after purchasing an additional 1,298,945 shares during the last quarter. Sphera Funds Management LTD. lifted its position in shares of Climb Bio by 114.4% in the 4th quarter. Sphera Funds Management LTD. now owns 932,247 shares of the company’s stock worth $3,729,000 after purchasing an additional 497,410 shares during the period. Finally, Nan Fung Trinity HK Ltd. bought a new stake in shares of Climb Bio in the 2nd quarter valued at $575,000. 69.76% of the stock is owned by institutional investors.

Climb Bio Price Performance

The company’s 50-day moving average price is $5.32 and its two-hundred day moving average price is $3.40. The company has a market capitalization of $502.76 million, a price-to-earnings ratio of -8.24 and a beta of -0.25.

Climb Bio (NASDAQ:CLYM) last released its earnings results on Thursday, March 5th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.06). On average, equities research analysts expect that Climb Bio, Inc. will post -1.57 EPS for the current fiscal year.

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.