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

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

Several research firms have commented on CTMX. Barclays upped their price target on shares of CytomX Therapeutics from $10.00 to $16.00 and gave the company an “overweight” rating in a report on Thursday, March 19th. Wall Street Zen upgraded CytomX Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 9th. Weiss Ratings reissued a “sell (d)” rating on shares of CytomX Therapeutics in a report on Tuesday, June 16th. Wedbush upped their target price on CytomX Therapeutics from $6.00 to $11.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 17th. Finally, Jefferies Financial Group raised their target price on CytomX Therapeutics from $8.00 to $16.00 and gave the stock a “buy” rating in a report on Wednesday, March 18th.

CytomX Therapeutics Price Performance

CTMX stock opened at $3.70 on Tuesday. The firm’s fifty day simple moving average is $3.51 and its 200-day simple moving average is $4.40. The company has a market capitalization of $629.70 million, a P/E ratio of -9.02 and a beta of 2.08. CytomX Therapeutics has a 12 month low of $1.72 and a 12 month high of $8.21.

CytomX Therapeutics (NASDAQ:CTMX) last released its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $10.26 million for the quarter, compared to analyst estimates of $4.68 million. As a group, sell-side analysts forecast that CytomX Therapeutics will post -0.45 earnings per share for the current year.

Institutional Investors Weigh In On CytomX Therapeutics

Hedge funds have recently bought and sold shares of the stock. Wells Fargo & Company MN grew its stake in shares of CytomX Therapeutics by 83.2% during the 4th quarter. Wells Fargo & Company MN now owns 6,605 shares of the biotechnology company’s stock worth $28,000 after purchasing an additional 3,000 shares during the period. Invesco Ltd. acquired a new position in shares of CytomX Therapeutics in the 2nd quarter valued at $32,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of CytomX Therapeutics in the 4th quarter valued at $35,000. Goldman Sachs Group Inc. purchased a new stake in CytomX Therapeutics during the first quarter worth $39,000. Finally, May Hill Capital LLC purchased a new stake in CytomX Therapeutics during the fourth quarter worth $46,000. Hedge funds and other institutional investors own 67.77% of the company’s stock.

CytomX Therapeutics Company Profile

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.