CytomX Therapeutics (NASDAQ:CTMX) Sets New 52-Week High After Analyst Upgrade

CytomX Therapeutics, Inc. (NASDAQ:CTMX)’s stock price reached a new 52-week high during trading on Thursday after Weiss Ratings upgraded the stock from a sell (d+) rating to a hold (c-) rating. The company traded as high as $3.48 and last traded at $3.44, with a volume of 446090 shares changing hands. The stock had previously closed at $3.37.

CTMX has been the subject of a number of other reports. Cantor Fitzgerald started coverage on shares of CytomX Therapeutics in a report on Monday, September 22nd. They set an “overweight” rating and a $6.00 price target for the company. Oppenheimer initiated coverage on shares of CytomX Therapeutics in a report on Thursday, July 31st. They issued an “outperform” rating and a $7.00 price objective for the company. Finally, Barclays initiated coverage on shares of CytomX Therapeutics in a report on Wednesday, September 17th. They issued an “overweight” rating and a $3.50 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $5.42.

Institutional Trading of CytomX Therapeutics

Several institutional investors have recently bought and sold shares of CTMX. Orbimed Advisors LLC purchased a new stake in CytomX Therapeutics during the 2nd quarter valued at about $19,208,000. Commodore Capital LP purchased a new stake in shares of CytomX Therapeutics during the 2nd quarter valued at about $17,462,000. Perceptive Advisors LLC purchased a new stake in shares of CytomX Therapeutics during the 2nd quarter valued at about $15,876,000. Franklin Resources Inc. purchased a new stake in shares of CytomX Therapeutics during the 2nd quarter valued at about $13,096,000. Finally, Vivo Capital LLC purchased a new stake in shares of CytomX Therapeutics during the 2nd quarter valued at about $13,096,000. 67.77% of the stock is owned by hedge funds and other institutional investors.

CytomX Therapeutics Stock Performance

The business’s fifty day moving average price is $2.34 and its 200-day moving average price is $1.94. The stock has a market cap of $568.95 million, a PE ratio of 6.16 and a beta of 2.27.

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.