Jefferies Financial Group Upgrades CytomX Therapeutics (NASDAQ:CTMX) to “Buy”

CytomX Therapeutics (NASDAQ:CTMX) was upgraded by investment analysts at Jefferies Financial Group from a “hold” rating to a “buy” rating in a research report issued on Monday, MarketBeat reports. The brokerage currently has a $8.00 price objective on the biotechnology company’s stock, up from their prior price objective of $2.50. Jefferies Financial Group’s target price indicates a potential upside of 96.56% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. BMO Capital Markets restated a “market perform” rating and issued a $3.25 target price on shares of CytomX Therapeutics in a research note on Wednesday, May 1st. JPMorgan Chase & Co. upgraded CytomX Therapeutics from an “underweight” rating to a “neutral” rating in a research note on Monday, April 22nd. Finally, StockNews.com cut CytomX Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, April 23rd. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $4.75.

CytomX Therapeutics Trading Down 6.9 %

CTMX opened at $4.07 on Monday. CytomX Therapeutics has a 12 month low of $1.04 and a 12 month high of $5.85. The stock has a fifty day moving average price of $2.35 and a 200-day moving average price of $1.76. The firm has a market cap of $277.33 million, a price-to-earnings ratio of -203.40 and a beta of 1.09.

CytomX Therapeutics (NASDAQ:CTMX) last released its quarterly earnings results on Monday, March 11th. The biotechnology company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.02 by ($0.01). The business had revenue of $26.61 million for the quarter, compared to analyst estimates of $23.36 million. On average, equities research analysts forecast that CytomX Therapeutics will post -0.25 EPS for the current year.

Insider Activity

In related news, CEO Sean A. Mccarthy sold 20,223 shares of the firm’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $2.09, for a total value of $42,266.07. Following the completion of the transaction, the chief executive officer now owns 524,481 shares in the company, valued at approximately $1,096,165.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 35,024 shares of company stock valued at $73,200 over the last ninety days. 7.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CytomX Therapeutics

Institutional investors have recently bought and sold shares of the business. AlphaMark Advisors LLC increased its stake in shares of CytomX Therapeutics by 119.8% in the fourth quarter. AlphaMark Advisors LLC now owns 23,183 shares of the biotechnology company’s stock worth $36,000 after acquiring an additional 12,635 shares during the period. SG Americas Securities LLC acquired a new stake in CytomX Therapeutics during the 1st quarter worth about $57,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of CytomX Therapeutics during the 1st quarter valued at about $124,000. Congress Park Capital LLC lifted its holdings in shares of CytomX Therapeutics by 112.8% in the 4th quarter. Congress Park Capital LLC now owns 239,300 shares of the biotechnology company’s stock valued at $371,000 after buying an additional 126,850 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of CytomX Therapeutics by 737.4% in the third quarter. Bank of New York Mellon Corp now owns 266,836 shares of the biotechnology company’s stock worth $344,000 after buying an additional 234,970 shares during the last quarter. 67.77% of the stock is owned by hedge funds and other institutional investors.

CytomX Therapeutics Company Profile

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.