CytomX Therapeutics (NASDAQ:CTMX) Reaches New 12-Month High – Here’s What Happened

Shares of CytomX Therapeutics, Inc. (NASDAQ:CTMX) reached a new 52-week high during trading on Friday . The company traded as high as $4.70 and last traded at $4.6650, with a volume of 1310020 shares trading hands. The stock had previously closed at $4.25.

Analysts Set New Price Targets

A number of analysts recently weighed in on CTMX shares. Wall Street Zen lowered shares of CytomX Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Weiss Ratings upgraded shares of CytomX Therapeutics from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, October 8th. Wedbush reaffirmed an “outperform” rating and issued a $6.00 price target on shares of CytomX Therapeutics in a report on Friday, November 7th. HC Wainwright lifted their price objective on CytomX Therapeutics from $5.00 to $10.00 and gave the company a “buy” rating in a research note on Tuesday, November 11th. Finally, Barclays boosted their target price on CytomX Therapeutics from $3.50 to $6.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 21st. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, CytomX Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $6.67.

CytomX Therapeutics Trading Up 26.8%

The business’s fifty day moving average price is $4.12 and its 200-day moving average price is $3.15. The company has a market capitalization of $913.25 million, a P/E ratio of 13.48 and a beta of 2.42.

CytomX Therapeutics (NASDAQ:CTMX) last released its earnings results on Thursday, November 6th. The biotechnology company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.05). CytomX Therapeutics had a net margin of 24.66% and a return on equity of 44.49%. The firm had revenue of $5.96 million during the quarter, compared to the consensus estimate of $11.50 million. As a group, equities research analysts forecast that CytomX Therapeutics, Inc. will post -0.05 EPS for the current year.

Institutional Trading of CytomX Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of CTMX. SG Americas Securities LLC purchased a new position in shares of CytomX Therapeutics during the fourth quarter worth approximately $226,000. JPMorgan Chase & Co. grew its holdings in shares of CytomX Therapeutics by 5,648.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 16,152 shares of the biotechnology company’s stock valued at $52,000 after purchasing an additional 15,871 shares during the last quarter. Financial Engines Advisors L.L.C. purchased a new position in CytomX Therapeutics in the 3rd quarter worth $4,407,000. Jacobs Levy Equity Management Inc. bought a new stake in CytomX Therapeutics in the third quarter worth $162,000. Finally, Velan Capital Investment Management LP boosted its position in CytomX Therapeutics by 6.7% during the third quarter. Velan Capital Investment Management LP now owns 80,000 shares of the biotechnology company’s stock valued at $255,000 after buying an additional 5,000 shares during the period. Hedge funds and other institutional investors own 67.77% of the company’s stock.

CytomX Therapeutics Company Profile

CytomX Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of next-generation therapeutics based on its proprietary Probody® platform. The company engineers masked antibody prodrugs that remain inactive in healthy tissue but are selectively activated in the tumor microenvironment. This approach is designed to enhance the safety and tolerability of antibody-based therapies, particularly those targeting immuno-oncology pathways.

At the core of CytomX’s pipeline is Pacmilimab (CX-072), an anti–PD-L1 Probody therapeutic currently undergoing clinical evaluation for multiple solid tumor indications.