CytomX Therapeutics (NASDAQ:CTMX) Earns Buy Rating from Analysts at Guggenheim

Guggenheim initiated coverage on shares of CytomX Therapeutics (NASDAQ:CTMX) in a research report report published on Tuesday, Marketbeat Ratings reports. The firm issued a buy rating and a $10.00 price target on the biotechnology company’s stock.

A number of other brokerages have also commented on CTMX. Wedbush reiterated an “outperform” rating and issued a $6.00 price objective on shares of CytomX Therapeutics in a research report on Friday, November 7th. Piper Sandler lifted their price target on shares of CytomX Therapeutics from $6.50 to $10.00 and gave the stock an “overweight” rating in a research report on Tuesday. HC Wainwright increased their price objective on shares of CytomX Therapeutics from $5.00 to $10.00 and gave the company a “buy” rating in a report on Tuesday, November 11th. Cantor Fitzgerald initiated coverage on shares of CytomX Therapeutics in a research note on Monday, September 22nd. They issued an “overweight” rating and a $6.00 price objective on the stock. Finally, Wall Street Zen cut shares of CytomX Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, CytomX Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $8.14.

CytomX Therapeutics Price Performance

CTMX stock opened at $5.72 on Tuesday. The company has a 50 day moving average price of $4.23 and a 200 day moving average price of $3.22. CytomX Therapeutics has a fifty-two week low of $0.40 and a fifty-two week high of $6.15. The stock has a market capitalization of $969.14 million, a PE ratio of 14.30 and a beta of 2.42.

CytomX Therapeutics (NASDAQ:CTMX) last announced its quarterly earnings data 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 firm had revenue of $5.96 million during the quarter, compared to the consensus estimate of $11.50 million. CytomX Therapeutics had a net margin of 24.66% and a return on equity of 44.49%. As a group, equities analysts expect that CytomX Therapeutics will post -0.05 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CytomX Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in CTMX. Farther Finance Advisors LLC bought a new stake in shares of CytomX Therapeutics in the 3rd quarter valued at $25,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new position in CytomX Therapeutics during the third quarter worth about $34,000. Truist Financial Corp acquired a new position in CytomX Therapeutics in the third quarter valued at about $40,000. Invesco Ltd. bought a new stake in shares of CytomX Therapeutics in the second quarter worth about $32,000. Finally, Pursue Wealth Partners LLC bought a new stake in shares of CytomX Therapeutics in the second quarter worth about $33,000. 67.77% of the stock is owned by institutional investors.

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.