CytomX Therapeutics (NASDAQ:CTMX) Coverage Initiated by Analysts at StockNews.com

Investment analysts at StockNews.com assumed coverage on shares of CytomX Therapeutics (NASDAQ:CTMX) in a research report issued on Tuesday. The brokerage set a “hold” rating on the biotechnology company’s stock.

Other analysts have also recently issued reports about the stock. Piper Sandler initiated coverage on shares of CytomX Therapeutics in a research note on Monday. They set an “overweight” rating and a $2.50 price objective for the company. Wedbush reissued an “outperform” rating and set a $5.00 target price on shares of CytomX Therapeutics in a research report on Friday, March 7th. Finally, HC Wainwright reaffirmed a “neutral” rating on shares of CytomX Therapeutics in a research report on Friday, March 7th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $4.77.

CytomX Therapeutics Stock Performance

Shares of CTMX opened at $0.61 on Tuesday. CytomX Therapeutics has a 1 year low of $0.40 and a 1 year high of $5.85. The company’s 50 day simple moving average is $0.65 and its 200 day simple moving average is $0.90. The company has a market capitalization of $48.55 million, a price-to-earnings ratio of 3.57 and a beta of 1.34.

CytomX Therapeutics (NASDAQ:CTMX) last posted its quarterly earnings data on Thursday, March 6th. The biotechnology company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.23) by $0.45. CytomX Therapeutics had a negative return on equity of 41.47% and a net margin of 10.96%. The business had revenue of $38.09 million for the quarter, compared to analysts’ expectations of $13.53 million. Equities analysts expect that CytomX Therapeutics will post -0.05 EPS for the current fiscal year.

Institutional Trading of CytomX Therapeutics

Large investors have recently modified their holdings of the business. Prosight Management LP boosted its holdings in CytomX Therapeutics by 29.2% in the fourth quarter. Prosight Management LP now owns 3,905,000 shares of the biotechnology company’s stock valued at $4,022,000 after purchasing an additional 882,891 shares during the last quarter. Millennium Management LLC increased its stake in shares of CytomX Therapeutics by 25.8% in the fourth quarter. Millennium Management LLC now owns 3,221,012 shares of the biotechnology company’s stock worth $3,318,000 after buying an additional 660,756 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in CytomX Therapeutics in the fourth quarter valued at $2,730,000. Jacobs Levy Equity Management Inc. boosted its stake in CytomX Therapeutics by 1.5% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,547,215 shares of the biotechnology company’s stock valued at $1,594,000 after acquiring an additional 23,139 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC increased its position in shares of CytomX Therapeutics by 13.9% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 1,380,800 shares of the biotechnology company’s stock worth $1,422,000 after purchasing an additional 169,000 shares during the last quarter. 67.77% of the stock is currently owned by institutional investors and hedge funds.

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.