Climb Bio (NASDAQ:CLYM) Reaches New 52-Week High Following Analyst Upgrade

Climb Bio, Inc. (NASDAQ:CLYM) hit a new 52-week high during mid-day trading on Wednesday after BTIG Research raised their price target on the stock from $8.00 to $19.00. BTIG Research currently has a buy rating on the stock. Climb Bio traded as high as $12.10 and last traded at $11.7730, with a volume of 209425 shares trading hands. The stock had previously closed at $11.45.

CLYM has been the subject of a number of other reports. Chardan Capital assumed coverage on shares of Climb Bio in a research report on Tuesday. They set a “buy” rating and a $22.00 price target for the company. Robert W. Baird lifted their price target on shares of Climb Bio from $9.00 to $12.00 and gave the company an “outperform” rating in a research report on Friday, March 6th. Truist Financial assumed coverage on shares of Climb Bio in a research report on Tuesday, March 17th. They set a “buy” rating and a $17.00 price target for the company. Mizuho initiated coverage on shares of Climb Bio in a research report on Wednesday, April 15th. They set an “outperform” rating and a $18.00 price target for the company. Finally, Wedbush initiated coverage on shares of Climb Bio in a report on Thursday, March 5th. They issued an “outperform” rating and a $12.00 target price for the company. Three investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Climb Bio presently has a consensus rating of “Buy” and a consensus price target of $19.30.

Institutional Trading of Climb Bio

A number of large investors have recently made changes to their positions in CLYM. MPM Bioimpact LLC bought a new stake in shares of Climb Bio in the fourth quarter worth approximately $10,686,000. Price T Rowe Associates Inc. MD grew its stake in shares of Climb Bio by 265.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,923,639 shares of the company’s stock worth $7,695,000 after acquiring an additional 1,396,722 shares during the period. ADAR1 Capital Management LLC grew its stake in shares of Climb Bio by 972.8% in the fourth 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 period. Sphera Funds Management LTD. grew its stake 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 worth $3,729,000 after acquiring an additional 497,410 shares during the period. Finally, Kotler Kevin bought a new stake in shares of Climb Bio in the fourth quarter worth approximately $1,600,000. 69.76% of the stock is currently owned by institutional investors.

Climb Bio Price Performance

The business’s 50 day moving average price is $7.66 and its 200 day moving average price is $4.93. The stock has a market capitalization of $573.14 million, a P/E ratio of -13.42 and a beta of 0.02.

Climb Bio (NASDAQ:CLYM) last announced its quarterly earnings results on Thursday, March 5th. The company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.06). As a group, analysts forecast that Climb Bio, Inc. will post -1.11 earnings per share for the current fiscal year.

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.