HC Wainwright Reiterates “Neutral” Rating for CytomX Therapeutics (NASDAQ:CTMX)

HC Wainwright reaffirmed their neutral rating on shares of CytomX Therapeutics (NASDAQ:CTMX) in a research report sent to investors on Thursday, Benzinga reports.

A number of other equities analysts also recently weighed in on the stock. JPMorgan Chase & Co. raised shares of CytomX Therapeutics from an underweight rating to a neutral rating in a research note on Monday, April 22nd. BMO Capital Markets reaffirmed a market perform rating and set a $3.25 price target on shares of CytomX Therapeutics in a research note on Wednesday, May 1st. Wedbush raised shares of CytomX Therapeutics from a neutral rating to an outperform rating and increased their price target for the stock from $3.00 to $8.00 in a research note on Thursday. Jefferies Financial Group raised shares of CytomX Therapeutics from a hold rating to a buy rating and increased their price target for the stock from $2.50 to $8.00 in a research note on Monday, May 6th. Finally, StockNews.com downgraded shares of CytomX Therapeutics from a buy rating to a hold rating in a research note on Tuesday, April 23rd. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $6.53.

CytomX Therapeutics Stock Performance

Shares of NASDAQ CTMX opened at $1.98 on Thursday. CytomX Therapeutics has a 1 year low of $1.04 and a 1 year high of $5.85. The firm’s 50 day moving average price is $2.36 and its 200 day moving average price is $1.79. The firm has a market cap of $154.28 million, a P/E ratio of 9.90 and a beta of 1.09.

CytomX Therapeutics (NASDAQ:CTMX) last posted its quarterly earnings results on Monday, March 11th. The biotechnology company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). The company had revenue of $26.61 million for the quarter, compared to analysts’ expectations of $23.36 million. CytomX Therapeutics had a negative return on equity of 27.00% and a net margin of 13.87%. As a group, equities analysts predict that CytomX Therapeutics will post -0.24 EPS for the current year.

Insider Activity

In other news, CEO Sean A. Mccarthy sold 20,223 shares of the firm’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $2.09, for a total value of $42,266.07. Following the transaction, the chief executive officer now owns 524,481 shares of the company’s stock, valued at approximately $1,096,165.29. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders have sold 35,024 shares of company stock valued at $73,200. Company insiders own 7.00% of the company’s stock.

Institutional Investors Weigh In On CytomX Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AlphaMark Advisors LLC increased its stake in CytomX Therapeutics by 119.8% during the 4th quarter. AlphaMark Advisors LLC now owns 23,183 shares of the biotechnology company’s stock worth $36,000 after buying an additional 12,635 shares during the period. SG Americas Securities LLC purchased a new stake in CytomX Therapeutics during the 1st quarter worth $57,000. Susquehanna Fundamental Investments LLC purchased a new stake in CytomX Therapeutics during the 1st quarter worth $124,000. Bank of New York Mellon Corp increased its stake in CytomX Therapeutics by 737.4% during the 3rd 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 period. Finally, Congress Park Capital LLC increased its stake in CytomX Therapeutics by 112.8% during the 4th quarter. Congress Park Capital LLC now owns 239,300 shares of the biotechnology company’s stock worth $371,000 after buying an additional 126,850 shares during the period. Hedge funds and other institutional investors own 67.77% of the company’s stock.

About CytomX Therapeutics

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.