Cowen and Company Reaffirms Buy Rating for CytomX Therapeutics, Inc. (NASDAQ:CTMX)
CytomX Therapeutics, Inc. (NASDAQ:CTMX)‘s stock had its “buy” rating reaffirmed by analysts at Cowen and Company in a research report issued to clients and investors on Tuesday.
Several other equities analysts have also recently weighed in on the stock. Zacks Investment Research raised shares of CytomX Therapeutics from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a research note on Wednesday, May 3rd. ValuEngine cut shares of CytomX Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, May 11th. HC Wainwright reissued a “buy” rating on shares of CytomX Therapeutics in a research note on Monday, May 8th. Jefferies Group LLC reissued a “buy” rating and issued a $25.00 target price on shares of CytomX Therapeutics in a research note on Tuesday, June 6th. Finally, BidaskClub raised shares of CytomX Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, July 8th. Three analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $24.50.
CytomX Therapeutics (NASDAQ CTMX) traded up 8.28% during mid-day trading on Tuesday, reaching $14.78. 302,806 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $14.69 and a 200 day moving average price of $14.41. CytomX Therapeutics has a 52-week low of $9.85 and a 52-week high of $20.02. The company’s market cap is $543.15 million.
CytomX Therapeutics (NASDAQ:CTMX) last released its earnings results on Monday, August 7th. The biotechnology company reported ($0.69) earnings per share for the quarter, missing the consensus estimate of ($0.39) by $0.30. CytomX Therapeutics had a negative net margin of 208.92% and a negative return on equity of 59.65%. The firm had revenue of $8.75 million during the quarter, compared to the consensus estimate of $4.95 million. Equities analysts predict that CytomX Therapeutics will post ($1.41) earnings per share for the current fiscal year.
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In other CytomX Therapeutics news, CFO Debanjan Ray sold 2,500 shares of the firm’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $15.47, for a total transaction of $38,675.00. Following the completion of the sale, the chief financial officer now owns 22,126 shares of the company’s stock, valued at approximately $342,289.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frederick W. Gluck sold 5,000 shares of the firm’s stock in a transaction on Monday, June 26th. The shares were sold at an average price of $14.61, for a total value of $73,050.00. The disclosure for this sale can be found here. Insiders have sold a total of 32,062 shares of company stock valued at $497,641 in the last ninety days. Insiders own 8.00% of the company’s stock.
A number of large investors have recently made changes to their positions in CTMX. Citadel Advisors LLC acquired a new stake in shares of CytomX Therapeutics during the first quarter valued at about $313,000. Vident Investment Advisory LLC increased its stake in shares of CytomX Therapeutics by 20.0% in the first quarter. Vident Investment Advisory LLC now owns 75,924 shares of the biotechnology company’s stock valued at $1,311,000 after buying an additional 12,652 shares in the last quarter. Hamilton Lane Advisors LLC acquired a new stake in shares of CytomX Therapeutics during the first quarter valued at about $366,000. Russell Investments Group Ltd. acquired a new stake in shares of CytomX Therapeutics during the fourth quarter valued at about $243,000. Finally, Spark Investment Management LLC increased its stake in shares of CytomX Therapeutics by 52.5% in the first quarter. Spark Investment Management LLC now owns 101,700 shares of the biotechnology company’s stock valued at $1,756,000 after buying an additional 35,000 shares in the last quarter. 52.33% of the stock is owned by institutional investors and hedge funds.
About CytomX Therapeutics
CytomX Therapeutics, Inc is a clinical-stage, oncology-focused biopharmaceutical company. The Company uses its Probody technology platform to create cancer immunotherapies against clinically validated targets, as well as to develop cancer therapeutics against difficult-to-drug targets. Its pipeline is focused on the development of therapies in a set of modalities: Probody cancer immunotherapies, Probody drug conjugates, T-cell engaging Probody bispecifics and ProCAR-NK cell therapies.
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