Climb Bio (NASDAQ:CLYM) Shares Down 10.3% – What’s Next?

Climb Bio, Inc. (NASDAQ:CLYM) dropped 10.3% on Monday . The stock traded as low as $9.76 and last traded at $9.69. Approximately 295,503 shares traded hands during trading, a decline of 57% from the average daily volume of 693,097 shares. The stock had previously closed at $10.80.

Analyst Upgrades and Downgrades

CLYM has been the subject of several research analyst reports. HC Wainwright boosted their price objective on Climb Bio from $15.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Mizuho initiated coverage on Climb Bio in a report on Wednesday, April 15th. They issued an “outperform” rating and a $18.00 price target for the company. Truist Financial initiated coverage on Climb Bio in a report on Tuesday, March 17th. They issued a “buy” rating and a $17.00 price target for the company. Wall Street Zen raised Climb Bio from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Wedbush upped their price target on Climb Bio from $15.00 to $17.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Three research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $20.30.

Climb Bio Trading Up 9.2%

The firm has a market capitalization of $603.23 million, a price-to-earnings ratio of -13.51 and a beta of 0.02. The firm has a fifty day moving average price of $8.49 and a 200 day moving average price of $5.57.

Climb Bio (NASDAQ:CLYM) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.06. As a group, equities analysts predict that Climb Bio, Inc. will post -0.89 EPS for the current fiscal year.

Institutional Trading of Climb Bio

A number of large investors have recently made changes to their positions in CLYM. Bank of America Corp DE increased its holdings in Climb Bio by 945.2% during the 1st quarter. Bank of America Corp DE now owns 52,921 shares of the company’s stock worth $363,000 after purchasing an additional 47,858 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Climb Bio by 11.2% during the 1st quarter. The Manufacturers Life Insurance Company now owns 156,317 shares of the company’s stock worth $1,071,000 after purchasing an additional 15,700 shares in the last quarter. Dimensional Fund Advisors LP bought a new position in Climb Bio during the 1st quarter worth about $715,000. Hsbc Holdings PLC increased its holdings in 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. Finally, Seven Fleet Capital Management LP bought a new position in Climb Bio during the 4th quarter worth about $306,000. Institutional investors 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.