CytomX Therapeutics (CTMX) Now Covered by Citigroup

Research analysts at Citigroup started coverage on shares of CytomX Therapeutics (NASDAQ:CTMX) in a research note issued to investors on Friday, MarketBeat.com reports. The firm set a “buy” rating and a $40.00 price target on the biotechnology company’s stock. Citigroup’s price target points to a potential upside of 60.84% from the company’s previous close.

Several other equities research analysts also recently weighed in on CTMX. Wedbush started coverage on CytomX Therapeutics in a research report on Thursday, September 7th. They issued an “outperform” rating and a $26.00 target price for the company. ValuEngine downgraded CytomX Therapeutics from a “hold” rating to a “sell” rating in a research report on Friday, September 15th. Nomura upped their target price on CytomX Therapeutics to $44.00 and gave the stock a “buy” rating in a research report on Wednesday, October 4th. Bank of America upped their target price on CytomX Therapeutics from $30.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, October 4th. Finally, Oppenheimer reaffirmed a “hold” rating on shares of CytomX Therapeutics in a research report on Wednesday, October 4th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company’s stock. CytomX Therapeutics has an average rating of “Buy” and an average target price of $32.78.

Shares of CytomX Therapeutics (NASDAQ:CTMX) traded up $2.00 during midday trading on Friday, hitting $24.87. The stock had a trading volume of 756,525 shares, compared to its average volume of 376,106. CytomX Therapeutics has a 52 week low of $10.64 and a 52 week high of $25.21. The stock has a market capitalization of $859.97, a P/E ratio of -15.64 and a beta of 0.47.

In other CytomX Therapeutics news, CFO Debanjan Ray sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $21.11, for a total transaction of $52,775.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Sean A. Mccarthy sold 14,342 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $19.86, for a total value of $284,832.12. Following the sale, the chief executive officer now owns 18,587 shares in the company, valued at approximately $369,137.82. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,234 shares of company stock worth $1,120,525. Insiders own 4.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in CTMX. Numeric Investors LLC acquired a new stake in CytomX Therapeutics during the second quarter valued at approximately $9,730,000. State Street Corp raised its stake in CytomX Therapeutics by 58.8% during the second 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 in the last quarter. OxFORD Asset Management LLP raised its stake in CytomX Therapeutics by 425.6% during the third quarter. OxFORD Asset Management LLP now owns 166,079 shares of the biotechnology company’s stock valued at $3,001,000 after buying an additional 134,484 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in CytomX Therapeutics by 1,063.5% during the second quarter. Goldman Sachs Group Inc. now owns 127,776 shares of the biotechnology company’s stock valued at $1,980,000 after buying an additional 116,794 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in CytomX Therapeutics by 185.3% during the third quarter. American Century Companies Inc. now owns 169,799 shares of the biotechnology company’s stock valued at $3,085,000 after buying an additional 110,283 shares in the last quarter. Hedge funds and other institutional investors own 63.13% of the company’s stock.

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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.

Analyst Recommendations for CytomX Therapeutics (NASDAQ:CTMX)

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