Climb Bio (NASDAQ:CLYM) Sets New 52-Week High – Still a Buy?

Climb Bio, Inc. (NASDAQ:CLYM)’s share price hit a new 52-week high on Tuesday . The company traded as high as $12.48 and last traded at $12.18, with a volume of 1431085 shares trading hands. The stock had previously closed at $11.45.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CLYM. Guggenheim assumed coverage on Climb Bio in a research report on Monday, June 8th. They set a “buy” rating and a $35.00 price objective on the stock. Chardan Capital started coverage on Climb Bio in a research note on Tuesday, May 5th. They set a “buy” rating and a $22.00 price target on the stock. Raymond James Financial began coverage on Climb Bio in a research note on Tuesday, March 10th. They set a “strong-buy” rating and a $25.00 price target on the stock. Wall Street Zen raised Climb Bio from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Mizuho assumed coverage on Climb Bio in a research note on Wednesday, April 15th. They issued an “outperform” rating and a $18.00 price objective for the company. Three investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Climb Bio presently has an average rating of “Buy” and an average price target of $21.73.

Climb Bio Stock Performance

The stock’s 50 day moving average price is $10.66 and its 200 day moving average price is $7.29. The company has a market capitalization of $730.07 million, a P/E ratio of -16.35 and a beta of 0.09.

Climb Bio (NASDAQ:CLYM) last released its earnings results on Thursday, May 7th. The company reported ($0.20) earnings per share (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 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Climb Bio

Several institutional investors have recently made changes to their positions in CLYM. Seven Fleet Capital Management LP grew its stake in shares of Climb Bio by 71.0% in the 1st quarter. Seven Fleet Capital Management LP now owns 130,654 shares of the company’s stock valued at $895,000 after buying an additional 54,254 shares during the period. Bank of America Corp DE increased its position in Climb Bio by 945.2% in the 1st quarter. Bank of America Corp DE now owns 52,921 shares of the company’s stock valued at $363,000 after buying an additional 47,858 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Climb Bio by 11.2% during the 1st quarter. The Manufacturers Life Insurance Company now owns 156,317 shares of the company’s stock worth $1,071,000 after buying an additional 15,700 shares during the period. Dimensional Fund Advisors LP acquired a new position in Climb Bio during the 1st quarter worth approximately $715,000. Finally, Hsbc Holdings PLC boosted its holdings in Climb Bio by 107.2% in the fourth quarter. Hsbc Holdings PLC now owns 24,744 shares of the company’s stock worth $99,000 after acquiring an additional 12,800 shares in the last quarter. 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.