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

CytomX Therapeutics, Inc. (NASDAQ:CTMX) has received a consensus recommendation of “Moderate Buy” from the eleven research firms 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 issued a strong buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $12.10.

CTMX has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised shares of CytomX Therapeutics from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $7.00 to $12.00 in a report on Monday, March 16th. HC Wainwright decreased their price objective on shares of CytomX Therapeutics from $17.00 to $11.00 and set a “buy” rating on the stock in a report on Monday, May 11th. Wall Street Zen raised shares of CytomX Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday, May 9th. Weiss Ratings reissued a “sell (d)” rating on shares of CytomX Therapeutics in a report on Tuesday. Finally, Wedbush increased their price objective on CytomX Therapeutics from $6.00 to $11.00 and gave the company an “outperform” rating in a research report on Tuesday, March 17th.

CytomX Therapeutics Price Performance

NASDAQ CTMX opened at $2.95 on Friday. The stock’s 50 day simple moving average is $3.81 and its 200 day simple moving average is $4.45. The firm has a market cap of $502.06 million, a PE ratio of -7.20 and a beta of 2.08. CytomX Therapeutics has a one year low of $1.72 and a one year high of $8.21.

CytomX Therapeutics (NASDAQ:CTMX) last issued its quarterly earnings results on Thursday, May 7th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.04. CytomX Therapeutics had a negative net margin of 166.40% and a negative return on equity of 36.61%. The business had revenue of $10.26 million for the quarter, compared to the consensus estimate of $4.68 million. As a group, equities analysts expect that CytomX Therapeutics will post -0.45 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Boothbay Fund Management LLC bought a new position in CytomX Therapeutics in the 3rd quarter valued at $3,946,000. Baker BROS. Advisors LP boosted its position in CytomX Therapeutics by 22.0% in the 3rd quarter. Baker BROS. Advisors LP now owns 4,250,826 shares of the biotechnology company’s stock valued at $13,560,000 after buying an additional 766,600 shares during the last quarter. Schulhoff & Co. Inc. bought a new position in CytomX Therapeutics in the 4th quarter valued at $1,597,000. HighVista Strategies LLC bought a new position in CytomX Therapeutics in the 3rd quarter valued at $820,000. Finally, Eversept Partners LP bought a new position in CytomX Therapeutics in the 4th quarter valued at $10,680,000. 67.77% of the stock is currently 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.