Equities researchers at Wedbush initiated coverage on shares of CytomX Therapeutics, Inc. (NASDAQ:CTMX) in a report issued on Thursday, The Fly reports. The firm set an “outperform” rating on the biotechnology company’s stock.

Several other research analysts have also recently weighed in on the company. Jefferies Group LLC set a $25.00 target price on CytomX Therapeutics and gave the stock a “buy” rating in a report on Friday, August 25th. Bank of America Corporation restated a “buy” rating and set a $30.00 target price (up from $28.00) on shares of CytomX Therapeutics in a report on Wednesday, August 9th. BidaskClub upgraded CytomX Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th. Cann restated a “hold” rating on shares of CytomX Therapeutics in a report on Tuesday, August 8th. Finally, Cowen and Company restated a “buy” rating on shares of CytomX Therapeutics in a report on Tuesday, August 8th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. CytomX Therapeutics has a consensus rating of “Hold” and an average target price of $25.60.

Shares of CytomX Therapeutics (NASDAQ:CTMX) traded up 1.19% during midday trading on Thursday, reaching $16.97. The company’s stock had a trading volume of 252,736 shares. The firm’s market cap is $625.63 million. The stock’s 50 day moving average price is $14.61 and its 200 day moving average price is $15.03. CytomX Therapeutics has a one year low of $9.85 and a one year high of $20.02.

CytomX Therapeutics (NASDAQ:CTMX) last issued its earnings results on Monday, August 7th. The biotechnology company reported ($0.69) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.39) by $0.30. The company had revenue of $8.75 million for the quarter, compared to analyst estimates of $4.95 million. CytomX Therapeutics had a negative return on equity of 84.61% and a negative net margin of 206.33%. Analysts predict that CytomX Therapeutics will post ($1.47) earnings per share for the current year.

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In other news, Director Frederick W. Gluck sold 5,000 shares of CytomX Therapeutics stock in a transaction that occurred on Monday, June 26th. The shares were sold at an average price of $14.61, for a total transaction of $73,050.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Sean A. Mccarthy sold 4,481 shares of CytomX Therapeutics stock in a transaction that occurred on Monday, June 26th. The shares were sold at an average price of $15.00, for a total transaction of $67,215.00. Following the sale, the insider now directly owns 8,726 shares in the company, valued at approximately $130,890. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 70,229 shares of company stock worth $1,145,499. Corporate insiders own 4.70% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. California State Teachers Retirement System raised its position in shares of CytomX Therapeutics by 27.8% during the 2nd quarter. California State Teachers Retirement System now owns 51,430 shares of the biotechnology company’s stock valued at $797,000 after buying an additional 11,200 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of CytomX Therapeutics by 36.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,529 shares of the biotechnology company’s stock valued at $365,000 after buying an additional 6,342 shares during the period. Redmile Group LLC raised its position in shares of CytomX Therapeutics by 2.4% during the 2nd quarter. Redmile Group LLC now owns 698,392 shares of the biotechnology company’s stock valued at $10,825,000 after buying an additional 16,500 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in shares of CytomX Therapeutics during the 2nd quarter valued at approximately $174,000. Finally, State Street Corp raised its position in shares of CytomX Therapeutics by 58.8% during the 2nd quarter. State Street Corp now owns 446,315 shares of the biotechnology company’s stock valued at $6,914,000 after buying an additional 165,342 shares during the period. 59.97% of the stock is currently owned by hedge funds and other institutional investors.

CytomX Therapeutics Company Profile

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.

The Fly

Analyst Recommendations for CytomX Therapeutics (NASDAQ:CTMX)

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