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

CytomX Therapeutics, Inc. (NASDAQ:CTMX) has received an average recommendation of “Moderate Buy” from the eleven brokerages that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, nine have given a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $12.10.

CTMX has been the subject of several analyst reports. Cantor Fitzgerald increased their price objective on CytomX Therapeutics from $6.00 to $10.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 4th. Wolfe Research initiated coverage on CytomX Therapeutics in a report on Tuesday, May 19th. They set an “outperform” rating and a $6.00 price target for the company. Barclays increased their price target on CytomX Therapeutics from $10.00 to $16.00 and gave the company an “overweight” rating in a research report on Thursday, March 19th. Weiss Ratings cut CytomX Therapeutics from a “hold (c-)” rating to a “sell (d)” rating in a research note on Thursday, March 19th. Finally, Guggenheim lifted their price objective on shares of CytomX Therapeutics from $10.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, March 18th.

Insider Activity

In other CytomX Therapeutics news, CFO Christopher Ogden sold 19,323 shares of the company’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $6.42, for a total value of $124,053.66. Following the completion of the sale, the chief financial officer directly owned 296,948 shares of the company’s stock, valued at approximately $1,906,406.16. This represents a 6.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Marcia Belvin sold 31,492 shares of the stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $6.42, for a total transaction of $202,178.64. Following the completion of the sale, the senior vice president owned 300,760 shares of the company’s stock, valued at approximately $1,930,879.20. This trade represents a 9.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 191,063 shares of company stock valued at $1,226,624 over the last ninety days. Company insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On CytomX Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of CTMX. Bank of America Corp DE grew its holdings in shares of CytomX Therapeutics by 1,064.3% in the first quarter. Bank of America Corp DE now owns 10,202,785 shares of the biotechnology company’s stock valued at $47,953,000 after acquiring an additional 9,326,480 shares in the last quarter. Janus Henderson Group PLC bought a new stake in CytomX Therapeutics during the first quarter worth $220,000. Ally Bridge Group NY LLC bought a new stake in CytomX Therapeutics during the first quarter worth $4,230,000. California State Teachers Retirement System purchased a new position in CytomX Therapeutics in the first quarter worth $415,000. Finally, Elmind Capital LP boosted its position in CytomX Therapeutics by 550.0% in the first quarter. Elmind Capital LP now owns 4,550,000 shares of the biotechnology company’s stock worth $21,385,000 after purchasing an additional 3,850,000 shares during the last quarter. Hedge funds and other institutional investors own 67.77% of the company’s stock.

CytomX Therapeutics Price Performance

CTMX opened at $3.76 on Monday. CytomX Therapeutics has a fifty-two week low of $1.72 and a fifty-two week high of $8.21. The firm has a market capitalization of $639.91 million, a PE ratio of -9.17 and a beta of 2.18. The company’s 50-day moving average is $4.36 and its 200 day moving average is $4.55.

CytomX Therapeutics (NASDAQ:CTMX) last released its quarterly earnings results on Thursday, May 7th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.04. The business had revenue of $10.26 million during the quarter, compared to the consensus estimate of $4.68 million. CytomX Therapeutics had a negative return on equity of 36.61% and a negative net margin of 166.40%. As a group, analysts expect that CytomX Therapeutics will post -0.46 EPS for the current year.

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.