Mizuho Initiates Coverage on CytomX Therapeutics (NASDAQ:CTMX)

Mizuho started coverage on shares of CytomX Therapeutics (NASDAQ:CTMX) in a report released on Wednesday, The Fly reports. The firm set a “buy” rating on the biotechnology company’s stock.

Several other equities analysts also recently issued reports on CTMX. Zacks Investment Research downgraded CytomX Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday, April 30th. BidaskClub raised CytomX Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, May 7th. ValuEngine downgraded CytomX Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday, May 1st. HC Wainwright reissued a “buy” rating and issued a $34.00 target price on shares of CytomX Therapeutics in a research report on Wednesday, April 3rd. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $23.00 target price (up from $21.00) on shares of CytomX Therapeutics in a research report on Monday, June 3rd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $21.25.

NASDAQ:CTMX traded down $0.07 during trading hours on Wednesday, reaching $9.92. The company’s stock had a trading volume of 128,054 shares, compared to its average volume of 470,695. The company has a market capitalization of $446.31 million, a price-to-earnings ratio of -4.89 and a beta of 0.50. CytomX Therapeutics has a 12 month low of $8.94 and a 12 month high of $27.20. The company has a quick ratio of 4.21, a current ratio of 4.21 and a debt-to-equity ratio of 0.22.

CytomX Therapeutics (NASDAQ:CTMX) last issued its quarterly earnings data on Thursday, May 9th. The biotechnology company reported ($0.31) EPS for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.22. CytomX Therapeutics had a negative net margin of 111.27% and a negative return on equity of 73.62%. The company had revenue of $29.49 million during the quarter, compared to the consensus estimate of $13.59 million. On average, sell-side analysts expect that CytomX Therapeutics will post -2.13 EPS for the current year.

Large investors have recently bought and sold shares of the business. Bank of New York Mellon Corp lifted its position in shares of CytomX Therapeutics by 12.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 174,545 shares of the biotechnology company’s stock valued at $3,229,000 after buying an additional 19,304 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of CytomX Therapeutics by 7.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 150,584 shares of the biotechnology company’s stock valued at $2,786,000 after buying an additional 10,653 shares during the last quarter. Aquilo Capital Management LLC lifted its position in shares of CytomX Therapeutics by 3.8% during the 3rd quarter. Aquilo Capital Management LLC now owns 674,763 shares of the biotechnology company’s stock valued at $12,483,000 after buying an additional 25,000 shares during the last quarter. Rhumbline Advisers lifted its position in shares of CytomX Therapeutics by 56.7% during the 4th quarter. Rhumbline Advisers now owns 59,143 shares of the biotechnology company’s stock valued at $893,000 after buying an additional 21,402 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its position in shares of CytomX Therapeutics by 18.5% during the 4th quarter. State Board of Administration of Florida Retirement System now owns 15,904 shares of the biotechnology company’s stock valued at $240,000 after buying an additional 2,478 shares during the last quarter. 81.83% of the stock is currently owned by institutional investors.

About CytomX Therapeutics

CytomX Therapeutics, Inc operates as an oncology-focused biopharmaceutical company in the United States. The company develops a novel class of investigational antibody therapeutics based on its Probody technology platform for the treatment of cancer. Its product candidates in clinical stage include CX-072, a Probody therapeutic targeting programmed cell death ligand 1 immuno-oncology target; CX-2009, a Probody drug conjugate (PDC) against CD166 novel drug target; BMS-986249, a CTLA-4 Probody therapeutic drug; CX-2029, a PDC targeting CD71; and CX-188, a Probody therapeutic targeting PD-1 anti-cancer target.

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