CytomX Therapeutics (NASDAQ:CTMX) Upgraded at Barclays

Barclays upgraded shares of CytomX Therapeutics (NASDAQ:CTMX) to a strong-buy rating in a research note published on Tuesday morning,Zacks.com reports.

Separately, Oppenheimer began coverage on CytomX Therapeutics in a research note on Thursday, July 31st. They issued an “outperform” rating and a $7.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company. Based on data from MarketBeat.com, CytomX Therapeutics presently has a consensus rating of “Buy” and an average target price of $5.30.

CytomX Therapeutics Stock Performance

CytomX Therapeutics stock opened at $2.04 on Tuesday. The firm has a market cap of $336.42 million, a P/E ratio of 3.64 and a beta of 2.18. The business’s fifty day moving average is $2.16 and its two-hundred day moving average is $1.70. CytomX Therapeutics has a 52 week low of $0.40 and a 52 week high of $3.10.

Institutional Investors Weigh In On CytomX Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in CTMX. Miller Financial Services LLC raised its position in shares of CytomX Therapeutics by 104.0% during the first quarter. Miller Financial Services LLC now owns 51,000 shares of the biotechnology company’s stock worth $32,000 after acquiring an additional 26,000 shares during the last quarter. Invesco Ltd. bought a new stake in CytomX Therapeutics in the second quarter valued at about $32,000. Pursue Wealth Partners LLC bought a new stake in CytomX Therapeutics in the second quarter valued at about $33,000. Goldman Sachs Group Inc. bought a new stake in CytomX Therapeutics in the first quarter valued at about $39,000. Finally, Velan Capital Investment Management LP increased its holdings in CytomX Therapeutics by 114.3% in the first quarter. Velan Capital Investment Management LP now owns 75,000 shares of the biotechnology company’s stock valued at $48,000 after purchasing an additional 40,000 shares during the last quarter. Institutional investors own 67.77% of the company’s stock.

CytomX Therapeutics Company Profile

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.