Cantor Fitzgerald Initiates Coverage on CytomX Therapeutics (NASDAQ:CTMX)

Stock analysts at Cantor Fitzgerald began coverage on shares of CytomX Therapeutics (NASDAQ:CTMX) in a report issued on Monday, MarketBeat reports. The brokerage set an “overweight” rating and a $6.00 price target on the biotechnology company’s stock. Cantor Fitzgerald’s price objective points to a potential upside of 184.36% from the company’s current price. Cantor Fitzgerald also issued estimates for CytomX Therapeutics’ FY2025 earnings at ($0.01) EPS and FY2026 earnings at ($0.29) EPS.

Several other equities analysts have also weighed in on the stock. Barclays initiated coverage on shares of CytomX Therapeutics in a research report on Wednesday, September 17th. They issued an “overweight” rating and a $3.50 price objective on the stock. Oppenheimer initiated coverage on shares of CytomX Therapeutics in a research report on Thursday, July 31st. They issued an “outperform” rating and a $7.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $5.42.

CytomX Therapeutics Price Performance

Shares of CTMX opened at $2.11 on Monday. The firm has a market capitalization of $347.96 million, a PE ratio of 3.77 and a beta of 2.18. The company’s 50-day moving average is $2.14 and its 200-day moving average is $1.74. CytomX Therapeutics has a fifty-two week low of $0.40 and a fifty-two week high of $3.10.

Hedge Funds Weigh In On CytomX Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the business. Tower Research Capital LLC TRC grew its stake 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 valued at $67,000 after acquiring an additional 19,384 shares in the last quarter. Soleus Capital Management L.P. acquired a new position in shares of CytomX Therapeutics in the second quarter valued at about $2,961,000. Perceptive Advisors LLC acquired a new stake in CytomX Therapeutics during the second quarter worth about $15,876,000. Lazard Asset Management LLC grew its stake in CytomX Therapeutics by 5,208.3% during the second quarter. Lazard Asset Management LLC now owns 43,316 shares of the biotechnology company’s stock worth $98,000 after buying an additional 42,500 shares in the last quarter. Finally, Balyasny Asset Management L.P. acquired a new stake in CytomX Therapeutics during the second quarter worth about $6,505,000. 67.77% of the stock is currently owned by institutional investors and hedge funds.

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.