Climb Bio (NASDAQ:CLYM) Hits New 12-Month High – Here’s What Happened

Climb Bio, Inc. (NASDAQ:CLYM) shares reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $7.40 and last traded at $7.38, with a volume of 931851 shares changing hands. The stock had previously closed at $7.09.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CLYM. HC Wainwright boosted their target price on shares of Climb Bio from $9.00 to $11.00 and gave the company a “buy” rating in a research report on Thursday, December 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Climb Bio in a research note on Wednesday, January 21st. Piper Sandler started coverage on Climb Bio in a research note on Friday, February 13th. They set an “overweight” rating on the stock. Finally, Wall Street Zen cut Climb Bio from a “hold” rating to a “strong sell” rating in a report on Saturday, November 8th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.50.

Climb Bio Stock Down 3.1%

The firm has a 50 day moving average of $4.96 and a two-hundred day moving average of $3.13. The firm has a market capitalization of $487.49 million, a price-to-earnings ratio of -9.41 and a beta of -0.15.

Insider Activity

In related news, Director Ra Capital Management, L.P. acquired 101,462 shares of the stock in a transaction that occurred on Friday, December 12th. The stock was acquired at an average cost of $2.86 per share, for a total transaction of $290,181.32. Following the transaction, the director directly owned 3,396,318 shares in the company, valued at $9,713,469.48. This trade represents a 3.08% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders have purchased 321,672 shares of company stock worth $779,626. Insiders own 0.80% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. MPM Bioimpact LLC acquired a new position in Climb Bio in the 4th quarter worth about $10,686,000. Price T Rowe Associates Inc. MD boosted 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 worth $7,695,000 after buying an additional 1,396,722 shares during the period. ADAR1 Capital Management LLC grew 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 acquiring an additional 1,298,945 shares during the last quarter. Sphera Funds Management LTD. increased its position in Climb Bio by 114.4% in the 4th quarter. Sphera Funds Management LTD. now owns 932,247 shares of the company’s stock valued at $3,729,000 after acquiring an additional 497,410 shares during the period. Finally, Diadema Partners LP raised its stake in shares of Climb Bio by 4.8% during the second quarter. Diadema Partners LP now owns 702,135 shares of the company’s stock valued at $871,000 after acquiring an additional 32,332 shares during the last quarter. 69.76% of the stock is currently owned by institutional investors.

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.