CytomX Therapeutics (NASDAQ:CTMX) Stock Rating Upgraded by HC Wainwright

CytomX Therapeutics (NASDAQ:CTMX) was upgraded by investment analysts at HC Wainwright from a “neutral” rating to a “buy” rating in a research note issued on Thursday, MarketBeat reports. The firm presently has a $5.00 price objective on the biotechnology company’s stock. HC Wainwright’s target price suggests a potential upside of 146.31% from the company’s current price. HC Wainwright also issued estimates for CytomX Therapeutics’ FY2026 earnings at ($0.01) EPS.

A number of other equities research analysts have also recently issued reports on the stock. StockNews.com raised shares of CytomX Therapeutics from a “hold” rating to a “buy” rating in a report on Tuesday. Piper Sandler initiated coverage on shares of CytomX Therapeutics in a report on Monday, April 14th. They issued an “overweight” rating and a $2.50 target price on the stock. Finally, Wedbush reaffirmed an “outperform” rating and issued a $6.00 target price (up from $5.00) on shares of CytomX Therapeutics in a report on Monday, May 12th.

CytomX Therapeutics Trading Up 1.5%

CTMX opened at $2.03 on Thursday. The stock has a market capitalization of $163.66 million, a P/E ratio of 11.94 and a beta of 1.11. CytomX Therapeutics has a 12 month low of $0.40 and a 12 month high of $2.55. The firm’s fifty day simple moving average is $0.82 and its 200 day simple moving average is $0.89.

CytomX Therapeutics (NASDAQ:CTMX) last posted its quarterly earnings data on Monday, May 12th. The biotechnology company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.18 by $0.09. CytomX Therapeutics had a net margin of 10.96% and a negative return on equity of 41.47%. The business had revenue of $50.92 million for the quarter, compared to analysts’ expectations of $35.42 million. During the same period in the previous year, the firm posted $0.17 EPS. On average, equities research analysts predict that CytomX Therapeutics will post -0.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Northern Trust Corp increased its holdings in shares of CytomX Therapeutics by 16.0% during the fourth quarter. Northern Trust Corp now owns 150,632 shares of the biotechnology company’s stock worth $155,000 after purchasing an additional 20,746 shares during the period. Jacobs Levy Equity Management Inc. increased its holdings in shares of CytomX Therapeutics by 1.5% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,547,215 shares of the biotechnology company’s stock worth $1,594,000 after purchasing an additional 23,139 shares during the period. Miller Financial Services LLC bought a new position in shares of CytomX Therapeutics during the fourth quarter worth approximately $26,000. Prudential Financial Inc. increased its holdings in shares of CytomX Therapeutics by 76.2% during the fourth quarter. Prudential Financial Inc. now owns 64,300 shares of the biotechnology company’s stock worth $66,000 after purchasing an additional 27,800 shares during the period. Finally, Traphagen Investment Advisors LLC bought a new position in shares of CytomX Therapeutics during the fourth quarter worth approximately $31,000. 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.