Climb Bio, Inc. (NASDAQ:CLYM) Short Interest Down 18.1% in December

Climb Bio, Inc. (NASDAQ:CLYM) saw a large drop in short interest in December. As of December 31st, there was short interest totaling 1,816,835 shares, a drop of 18.1% from the December 15th total of 2,219,442 shares. Based on an average daily trading volume, of 1,638,669 shares, the days-to-cover ratio is currently 1.1 days. Approximately 2.8% of the shares of the company are short sold. Approximately 2.8% of the shares of the company are short sold. Based on an average daily trading volume, of 1,638,669 shares, the days-to-cover ratio is currently 1.1 days.

Climb Bio Stock Performance

NASDAQ CLYM traded up $0.14 during trading on Tuesday, reaching $4.36. The company’s stock had a trading volume of 275,070 shares, compared to its average volume of 821,698. The business’s fifty day moving average price is $3.15 and its 200-day moving average price is $2.34. Climb Bio has a twelve month low of $1.05 and a twelve month high of $5.19. The firm has a market cap of $297.26 million, a price-to-earnings ratio of -5.74 and a beta of -0.16.

Climb Bio (NASDAQ:CLYM) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.03). As a group, sell-side analysts forecast that Climb Bio will post -1.57 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CLYM. Weiss Ratings reissued a “sell (d-)” rating on shares of Climb Bio in a report on Wednesday, October 8th. BTIG Research reissued a “buy” rating and set a $8.00 target price on shares of Climb Bio in a research note on Thursday, October 16th. Wall Street Zen lowered Climb Bio from a “hold” rating to a “strong sell” rating in a report on Saturday, November 8th. HC Wainwright lifted their price objective on Climb Bio from $9.00 to $11.00 and gave the stock a “buy” rating in a research report on Thursday, December 18th. Finally, William Blair assumed coverage on shares of Climb Bio in a research report on Thursday, October 16th. They set an “outperform” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Climb Bio currently has an average rating of “Moderate Buy” and an average target price of $9.50.

Insider Activity at Climb Bio

In other Climb Bio news, Director Ra Capital Management, L.P. purchased 101,462 shares of the firm’s stock in a transaction on Friday, December 12th. The shares were acquired at an average cost of $2.86 per share, for a total transaction of $290,181.32. Following the completion of the transaction, the director owned 3,396,318 shares of the company’s stock, valued at approximately $9,713,469.48. The trade was a 3.08% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have purchased 321,672 shares of company stock valued at $779,626 in the last three months. Insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CLYM. Diadema Partners LP lifted its position in shares of Climb Bio by 4.8% in the 2nd quarter. Diadema Partners LP now owns 702,135 shares of the company’s stock worth $871,000 after buying an additional 32,332 shares during the last quarter. Peapod Lane Capital LLC boosted its position in shares of Climb Bio by 1.1% during the 3rd quarter. Peapod Lane Capital LLC now owns 561,866 shares of the company’s stock valued at $1,129,000 after purchasing an additional 6,199 shares in the last quarter. Nan Fung Trinity HK Ltd. bought a new position in shares of Climb Bio in the second quarter valued at $575,000. Shay Capital LLC boosted its position in shares of Climb Bio by 107.5% in the 2nd quarter. Shay Capital LLC now owns 415,000 shares of the company’s stock valued at $515,000 after purchasing an additional 215,000 shares during the period. Finally, UBS Group AG lifted its stake in Climb Bio by 6.0% in the 3rd quarter. UBS Group AG now owns 405,404 shares of the company’s stock worth $815,000 after acquiring an additional 22,922 shares in the last quarter. 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.