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

Shares of Climb Bio, Inc. (NASDAQ:CLYM) hit a new 52-week high on Wednesday . The stock traded as high as $17.53 and last traded at $17.39, with a volume of 1159408 shares traded. The stock had previously closed at $17.44.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Robert W. Baird set a $21.00 price target on shares of Climb Bio in a research note on Wednesday, May 6th. Wedbush reaffirmed an “outperform” rating and set a $20.00 price objective on shares of Climb Bio in a report on Wednesday. HC Wainwright reiterated a “buy” rating and issued a $20.00 target price on shares of Climb Bio in a research report on Wednesday, June 24th. Wall Street Zen raised shares of Climb Bio from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Chardan Capital began coverage on shares of Climb Bio in a research report on Tuesday, May 5th. They set a “buy” rating and a $22.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $22.75.

Climb Bio Stock Down 1.8%

The stock has a market capitalization of $977.63 million, a price-to-earnings ratio of -20.51 and a beta of 0.08. The business’s 50-day moving average is $13.23 and its two-hundred day moving average is $10.03.

Climb Bio (NASDAQ:CLYM) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.18) EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.03. As a group, analysts forecast that Climb Bio, Inc. will post -0.84 EPS for the current fiscal year.

Hedge Funds Weigh In On Climb Bio

A number of institutional investors have recently added to or reduced their stakes in CLYM. Wellington Management Group LLP purchased a new stake in Climb Bio in the 2nd quarter valued at $1,262,000. Bank of America Corp DE acquired a new position in shares of Climb Bio during the 2nd quarter valued at about $335,000. ADAR1 Capital Management LLC acquired a new position in shares of Climb Bio during the 2nd quarter valued at about $10,727,000. Parkman Healthcare Partners LLC purchased a new stake in shares of Climb Bio in the second quarter valued at about $7,348,000. Finally, Legal & General Group Plc purchased a new stake in shares of Climb Bio in the second quarter valued at about $45,000. Hedge funds and other institutional investors own 69.76% of the company’s stock.

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.