Climb Bio (NASDAQ:CLYM) Trading Up 8.9% – Should You Buy?

Climb Bio, Inc. (NASDAQ:CLYM) shares were up 8.9% during trading on Tuesday . The stock traded as high as $17.36 and last traded at $17.8550. Approximately 133,666 shares traded hands during trading, a decline of 86% from the average daily volume of 935,836 shares. The stock had previously closed at $16.40.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on CLYM shares. Guggenheim initiated coverage on Climb Bio in a report on Monday, June 8th. They issued a “buy” rating and a $35.00 price objective on the stock. Chardan Capital started coverage on shares of Climb Bio in a report on Tuesday, May 5th. They set a “buy” rating and a $22.00 target price for the company. Robert W. Baird set a $21.00 target price on shares of Climb Bio in a research report on Wednesday, May 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Climb Bio in a research note on Friday, July 17th. Finally, Royal Bank Of Canada began coverage on shares of Climb Bio in a research report on Monday, August 3rd. They set an “outperform” rating and a $23.00 price target on the stock. Two equities research 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 company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $23.08.

Climb Bio Price Performance

The stock has a market cap of $1.03 billion, a price-to-earnings ratio of -21.52 and a beta of 0.08. The firm has a fifty day moving average of $13.45 and a 200 day moving average of $10.20.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CLYM. AQR Capital Management LLC acquired a new stake in Climb Bio during the first quarter worth about $27,000. Goldman Sachs Group Inc. acquired a new position in Climb Bio in the 1st quarter valued at about $147,000. Marshall Wace LLP purchased a new stake in shares of Climb Bio in the 2nd quarter valued at approximately $46,000. Qube Research & Technologies Ltd purchased a new stake in shares of Climb Bio in the 2nd quarter valued at approximately $43,000. Finally, Jane Street Group LLC acquired a new stake in shares of Climb Bio during the 2nd quarter worth approximately $184,000. Institutional investors and hedge funds own 69.76% of the company’s stock.

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.