CytomX Therapeutics, Inc. (NASDAQ:CTMX) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of CytomX Therapeutics, Inc. (NASDAQ:CTMX) have been assigned a consensus rating of “Moderate Buy” from the seven research firms that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $6.6667.

CTMX has been the topic of a number of research reports. Weiss Ratings raised shares of CytomX Therapeutics from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, October 8th. Barclays raised their target price on CytomX Therapeutics from $3.50 to $6.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 21st. Wall Street Zen cut CytomX Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Cantor Fitzgerald assumed coverage on CytomX Therapeutics in a research note on Monday, September 22nd. They set an “overweight” rating and a $6.00 price target for the company. Finally, HC Wainwright lifted their price objective on CytomX Therapeutics from $5.00 to $10.00 and gave the stock a “buy” rating in a report on Tuesday, November 11th.

Institutional Trading of CytomX Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the company. Orbimed Advisors LLC bought a new position in CytomX Therapeutics in the 2nd quarter valued at $19,208,000. Commodore Capital LP bought a new position in shares of CytomX Therapeutics in the second quarter worth $17,462,000. Perceptive Advisors LLC purchased a new stake in shares of CytomX Therapeutics in the second quarter worth $15,876,000. Franklin Resources Inc. bought a new stake in CytomX Therapeutics during the second quarter valued at $13,096,000. Finally, Vivo Capital LLC purchased a new position in CytomX Therapeutics during the second quarter worth about $13,096,000. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

CytomX Therapeutics Stock Down 0.2%

CytomX Therapeutics stock opened at $4.21 on Monday. CytomX Therapeutics has a 52 week low of $0.40 and a 52 week high of $4.62. The company’s 50 day moving average price is $3.52 and its two-hundred day moving average price is $2.70. The stock has a market cap of $713.32 million, a P/E ratio of 7.52 and a beta of 2.29.

CytomX Therapeutics (NASDAQ:CTMX) last issued its quarterly earnings results on Thursday, November 6th. The biotechnology company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.05). The business had revenue of $5.96 million for the quarter, compared to analysts’ expectations of $11.50 million. CytomX Therapeutics had a net margin of 34.04% and a return on equity of 158.70%. On average, equities analysts anticipate that CytomX Therapeutics will post -0.05 EPS for the current year.

About CytomX Therapeutics

CytomX Therapeutics, Inc, an oncology-focused biopharmaceutical company, focuses on developing novel conditionally activated biologics localized to the tumor microenvironment. The company utilizes conditional activation platform technology for oncology biologics research and development comprising the validation of targets for antibody-drug conjugates (ADCs), opening therapeutic window for novel T-cell engagers (TCEs) targeting solid tumors, and increasing the therapeutic index for immune modulators, such as cytokines; and PROBODY platform in preclinical research in areas outside of oncology.