Climb Bio (NASDAQ:CLYM) Sees Unusually-High Trading Volume – Time to Buy?

Climb Bio, Inc. (NASDAQ:CLYM) saw an uptick in trading volume on Tuesday . 1,076,731 shares were traded during trading, an increase of 45% from the previous session’s volume of 742,226 shares.The stock last traded at $10.6270 and had previously closed at $10.77.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Mizuho started coverage on shares of Climb Bio in a report on Wednesday, April 15th. They set an “outperform” rating and a $18.00 target price on the stock. B. Riley Financial started coverage on shares of Climb Bio in a research report on Tuesday, March 24th. They set a “buy” rating and a $26.00 price target for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Climb Bio in a research note on Monday, April 20th. Wall Street Zen upgraded Climb Bio from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Wedbush boosted their target price on Climb Bio from $15.00 to $17.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Three investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Climb Bio presently has a consensus rating of “Buy” and an average target price of $21.64.

Climb Bio Stock Performance

The firm has a market cap of $610.96 million, a PE ratio of -13.69 and a beta of 0.09. The company’s 50-day simple moving average is $9.62 and its two-hundred day simple moving average is $6.47.

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

Institutional Trading of Climb Bio

Several institutional investors and hedge funds have recently bought and sold shares of the stock. MPM Bioimpact LLC purchased a new position in shares of Climb Bio during the 4th quarter worth approximately $10,686,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Climb Bio by 265.1% in 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 purchasing an additional 1,396,722 shares during the period. ADAR1 Capital Management LLC boosted its position in shares of Climb Bio by 972.8% during the fourth quarter. ADAR1 Capital Management LLC now owns 1,432,475 shares of the company’s stock valued at $5,730,000 after purchasing an additional 1,298,945 shares in the last quarter. Sphera Funds Management LTD. boosted its position in shares of Climb Bio by 114.4% during 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 in the last quarter. Finally, Kotler Kevin purchased a new stake in Climb Bio in the fourth quarter worth $1,600,000. 69.76% of the stock is currently owned by hedge funds and other institutional investors.

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.