CytomX Therapeutics (NASDAQ:CTMX) Now Covered by Piper Sandler

Piper Sandler initiated coverage on shares of CytomX Therapeutics (NASDAQ:CTMX) in a report issued on Monday morning, MarketBeat reports. The brokerage issued an overweight rating and a $2.50 target price on the biotechnology company’s stock.

Several other research analysts have also recently commented on the company. StockNews.com cut CytomX Therapeutics from a “buy” rating to a “hold” rating in a research report on Monday, March 31st. HC Wainwright reaffirmed a “neutral” rating on shares of CytomX Therapeutics in a report on Friday, March 7th. Finally, Wedbush reissued an “outperform” rating and issued a $5.00 target price on shares of CytomX Therapeutics in a research note on Friday, March 7th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $4.77.

CytomX Therapeutics Stock Performance

Shares of CTMX opened at $0.61 on Monday. The company has a 50-day simple moving average of $0.65 and a 200-day simple moving average of $0.90. CytomX Therapeutics has a 52 week low of $0.40 and a 52 week high of $5.85. The firm has a market capitalization of $48.55 million, a P/E ratio of 3.57 and a beta of 1.34.

CytomX Therapeutics (NASDAQ:CTMX) last issued its quarterly earnings results on Thursday, March 6th. The biotechnology company reported $0.22 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $38.09 million for the quarter, compared to analyst estimates of $13.53 million. As a group, equities analysts forecast that CytomX Therapeutics will post -0.05 earnings per share for the current year.

Hedge Funds Weigh In On CytomX Therapeutics

Several institutional investors have recently added to or reduced their stakes in the company. Miller Financial Services LLC bought a new position in shares of CytomX Therapeutics in the fourth quarter valued at approximately $26,000. Traphagen Investment Advisors LLC acquired a new stake in shares of CytomX Therapeutics in the fourth quarter valued at $31,000. Algert Global LLC acquired a new position in CytomX Therapeutics during the 4th quarter worth about $35,000. Velan Capital Investment Management LP acquired a new position in shares of CytomX Therapeutics during the fourth quarter worth approximately $36,000. Finally, Aspire Growth Partners LLC bought a new position in CytomX Therapeutics in the 4th quarter valued at $42,000. 67.77% of the stock is owned by institutional investors.

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.