CytomX Therapeutics, Inc. (NASDAQ:CTMX) Receives $5.30 Consensus Price Target from Brokerages

Shares of CytomX Therapeutics, Inc. (NASDAQ:CTMX) have earned an average rating of “Buy” from the five ratings firms that are covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $5.30.

Several equities analysts have weighed in on CTMX shares. Oppenheimer started coverage on CytomX Therapeutics in a report on Thursday, July 31st. They set an “outperform” rating and a $7.00 price objective for the company. Barclays initiated coverage on CytomX Therapeutics in a report on Wednesday. They set an “overweight” rating and a $3.50 price objective for the company.

Hedge Funds Weigh In On CytomX Therapeutics

Large investors have recently made changes to their positions in the stock. Invesco Ltd. bought a new position in shares of CytomX Therapeutics in the second quarter worth $32,000. Pursue Wealth Partners LLC bought a new position in shares of CytomX Therapeutics in the second quarter worth $33,000. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of CytomX Therapeutics by 63.6% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 28,966 shares of the biotechnology company’s stock worth $66,000 after acquiring an additional 11,258 shares during the period. Tower Research Capital LLC TRC boosted its holdings in shares of CytomX Therapeutics by 188.6% in the second quarter. Tower Research Capital LLC TRC now owns 29,661 shares of the biotechnology company’s stock worth $67,000 after acquiring an additional 19,384 shares during the period. Finally, Velan Capital Investment Management LP bought a new position in shares of CytomX Therapeutics in the fourth quarter worth $36,000. 67.77% of the stock is owned by institutional investors.

CytomX Therapeutics Trading Down 2.9%

Shares of CTMX opened at $1.98 on Wednesday. The company has a market capitalization of $326.52 million, a price-to-earnings ratio of 3.54 and a beta of 2.18. The stock has a 50 day moving average of $2.16 and a 200 day moving average of $1.71. CytomX Therapeutics has a 12 month low of $0.40 and a 12 month high of $3.10.

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.