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

Shares of CytomX Therapeutics, Inc. (NASDAQ:CTMX) have received an average recommendation of “Moderate Buy” from the seven research firms that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $6.6667.

A number of equities research analysts have recently commented on CTMX shares. Weiss Ratings raised shares of CytomX Therapeutics from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, October 8th. Wedbush reissued an “outperform” rating and set a $6.00 price target on shares of CytomX Therapeutics in a report on Friday, November 7th. Cantor Fitzgerald initiated coverage on shares of CytomX Therapeutics in a research report on Monday, September 22nd. They set an “overweight” rating and a $6.00 price target on the stock. Barclays upped their price objective on shares of CytomX Therapeutics from $3.50 to $6.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 21st. Finally, Wall Street Zen lowered shares of CytomX Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th.

CytomX Therapeutics Stock Up 5.6%

Shares of CTMX stock opened at $4.44 on Friday. CytomX Therapeutics has a 52-week low of $0.40 and a 52-week high of $4.62. The stock has a market cap of $751.42 million, a PE ratio of 11.09 and a beta of 2.37. The business has a 50-day simple moving average of $3.89 and a 200-day simple moving average of $2.93.

CytomX Therapeutics (NASDAQ:CTMX) last announced its quarterly earnings results on Thursday, November 6th. The biotechnology company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.05). CytomX Therapeutics had a net margin of 24.66% and a return on equity of 44.49%. The company had revenue of $5.96 million for the quarter, compared to analysts’ expectations of $11.50 million. Sell-side analysts anticipate that CytomX Therapeutics will post -0.05 earnings per share for the current fiscal year.

Institutional Trading of CytomX Therapeutics

Several institutional investors have recently bought and sold shares of CTMX. Velan Capital Investment Management LP lifted its stake in shares of CytomX Therapeutics by 6.7% in the third quarter. Velan Capital Investment Management LP now owns 80,000 shares of the biotechnology company’s stock worth $255,000 after buying an additional 5,000 shares in the last quarter. Farther Finance Advisors LLC acquired a new stake in CytomX Therapeutics in the 3rd quarter valued at about $25,000. Congress Park Capital LLC lifted its stake in CytomX Therapeutics by 8.9% in the 3rd quarter. Congress Park Capital LLC now owns 103,922 shares of the biotechnology company’s stock worth $332,000 after purchasing an additional 8,500 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in CytomX Therapeutics by 1.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 720,020 shares of the biotechnology company’s stock worth $1,634,000 after purchasing an additional 8,566 shares in the last quarter. Finally, Aspire Growth Partners LLC boosted its holdings in shares of CytomX Therapeutics by 10.8% during the 2nd quarter. Aspire Growth Partners LLC now owns 102,254 shares of the biotechnology company’s stock worth $232,000 after purchasing an additional 10,000 shares during the last quarter. 67.77% of the stock is owned by institutional investors and hedge funds.

About CytomX Therapeutics

CytomX Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of next-generation therapeutics based on its proprietary Probody® platform. The company engineers masked antibody prodrugs that remain inactive in healthy tissue but are selectively activated in the tumor microenvironment. This approach is designed to enhance the safety and tolerability of antibody-based therapies, particularly those targeting immuno-oncology pathways.

At the core of CytomX’s pipeline is Pacmilimab (CX-072), an anti–PD-L1 Probody therapeutic currently undergoing clinical evaluation for multiple solid tumor indications.