Climb Bio, Inc. (NASDAQ:CLYM) Short Interest Update

Climb Bio, Inc. (NASDAQ:CLYM) was the recipient of a significant decrease in short interest in December. As of December 31st, there was short interest totaling 1,816,835 shares, a decrease of 18.1% from the December 15th total of 2,219,442 shares. Approximately 2.8% of the company’s stock are sold short. Based on an average daily volume of 1,638,669 shares, the days-to-cover ratio is presently 1.1 days. Based on an average daily volume of 1,638,669 shares, the days-to-cover ratio is presently 1.1 days. Approximately 2.8% of the company’s stock are sold short.

Climb Bio Stock Up 11.9%

CLYM stock traded up $0.45 during trading on Monday, hitting $4.22. The company had a trading volume of 693,899 shares, compared to its average volume of 831,483. The firm has a 50-day moving average price of $3.10 and a 200-day moving average price of $2.32. The firm has a market cap of $287.72 million, a PE ratio of -5.55 and a beta of -0.16. Climb Bio has a 1-year low of $1.05 and a 1-year high of $5.19.

Climb Bio (NASDAQ:CLYM) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.03). Sell-side analysts anticipate that Climb Bio will post -1.57 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Ra Capital Management, L.P. purchased 213,099 shares of the company’s stock in a transaction on Thursday, December 11th. The shares were bought at an average cost of $2.18 per share, for a total transaction of $464,555.82. Following the completion of the purchase, the director directly owned 3,294,856 shares of the company’s stock, valued at approximately $7,182,786.08. This trade represents a 6.91% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have purchased 321,672 shares of company stock valued at $779,626 in the last 90 days. Corporate insiders own 0.80% of the company’s stock.

Hedge Funds Weigh In On Climb Bio

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Personalized Indexing Management LLC purchased a new position in Climb Bio during the 3rd quarter worth $29,000. AQR Capital Management LLC purchased a new stake in shares of Climb Bio in the first quarter valued at about $27,000. Qube Research & Technologies Ltd acquired a new position in shares of Climb Bio during the second quarter worth about $43,000. Marshall Wace LLP purchased a new position in Climb Bio during the second quarter worth about $46,000. Finally, Prelude Capital Management LLC purchased a new position in Climb Bio during the third quarter worth about $82,000. 69.76% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on CLYM shares. HC Wainwright upped their target price on shares of Climb Bio from $9.00 to $11.00 and gave the company a “buy” rating in a report on Thursday, December 18th. William Blair began coverage on shares of Climb Bio in a research report on Thursday, October 16th. They issued an “outperform” rating for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Climb Bio in a report on Wednesday, October 8th. BTIG Research reissued a “buy” rating and issued a $8.00 target price on shares of Climb Bio in a report on Thursday, October 16th. Finally, Wall Street Zen cut Climb Bio from a “hold” rating to a “strong sell” rating in a research report on Saturday, November 8th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $9.50.

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.