Climb Bio (NASDAQ:CLYM) Sets New 1-Year High – Time to Buy?

Shares of Climb Bio, Inc. (NASDAQ:CLYM) hit a new 52-week high on Monday . The stock traded as high as $13.47 and last traded at $13.48, with a volume of 684126 shares traded. The stock had previously closed at $13.08.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CLYM. Chardan Capital assumed coverage on Climb Bio in a research report on Tuesday, May 5th. They set a “buy” rating and a $22.00 target price on the stock. Truist Financial began coverage on shares of Climb Bio in a research report on Tuesday, March 17th. They set a “buy” rating and a $17.00 price objective for the company. Mizuho initiated coverage on shares of Climb Bio in a report on Wednesday, April 15th. They set an “outperform” rating and a $18.00 price objective on the stock. Robert W. Baird set a $21.00 target price on shares of Climb Bio in a research report on Wednesday, May 6th. Finally, Guggenheim began coverage on shares of Climb Bio in a research note on Monday, June 8th. They set a “buy” rating and a $35.00 target price for the company. Three analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $21.73.

Climb Bio Stock Up 1.1%

The stock’s 50-day moving average price is $10.99 and its 200 day moving average price is $7.60. The firm has a market capitalization of $754.97 million, a price-to-earnings ratio of -16.74 and a beta of 0.09.

Climb Bio (NASDAQ:CLYM) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.06. On average, sell-side analysts anticipate that Climb Bio, Inc. will post -0.87 earnings per share for the current year.

Hedge Funds Weigh In On Climb Bio

A number of institutional investors have recently added to or reduced their stakes in the stock. MPM Bioimpact LLC purchased a new stake in Climb Bio in the 4th quarter valued at $10,686,000. Price T Rowe Associates Inc. MD boosted its position in shares of 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 acquiring an additional 1,396,722 shares during the last quarter. ADAR1 Capital Management LLC boosted its position in shares of Climb Bio by 972.8% during the 4th quarter. ADAR1 Capital Management LLC now owns 1,432,475 shares of the company’s stock valued at $5,730,000 after acquiring an additional 1,298,945 shares during the last quarter. Sphera Funds Management LTD. grew its holdings in shares of Climb Bio by 114.4% in the fourth quarter. Sphera Funds Management LTD. now owns 932,247 shares of the company’s stock valued at $3,729,000 after purchasing an additional 497,410 shares during the period. Finally, Kotler Kevin purchased a new stake in shares of Climb Bio in the fourth quarter valued at about $1,600,000. Hedge funds and other 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.