Guggenheim Initiates Coverage on CytomX Therapeutics (NASDAQ:CTMX)

Equities research analysts at Guggenheim assumed coverage on shares of CytomX Therapeutics (NASDAQ:CTMX) in a research note issued to investors on Tuesday, MarketBeat Ratings reports. The firm set a “buy” rating and a $10.00 price target on the biotechnology company’s stock. Guggenheim’s price target would indicate a potential upside of 89.04% from the stock’s current price.

Other equities analysts have also recently issued reports about the stock. Wall Street Zen cut shares of CytomX Therapeutics from a “hold” rating to a “sell” rating in a research note 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 restated an “outperform” rating and set a $6.00 target price on shares of CytomX Therapeutics in a research report on Friday, November 7th. Cantor Fitzgerald assumed coverage on CytomX Therapeutics in a research note on Monday, September 22nd. They issued an “overweight” rating and a $6.00 price target for the company. Finally, HC Wainwright increased their price target on CytomX Therapeutics from $5.00 to $10.00 and gave the stock a “buy” rating in a research report on Tuesday, November 11th. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, CytomX Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $8.14.

CytomX Therapeutics Stock Performance

NASDAQ CTMX opened at $5.29 on Tuesday. The firm has a market capitalization of $896.28 million, a P/E ratio of 13.23 and a beta of 2.42. The stock has a 50-day simple moving average of $4.19 and a two-hundred day simple moving average of $3.21. CytomX Therapeutics has a fifty-two week low of $0.40 and a fifty-two week high of $5.70.

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Goldman Sachs Group Inc. purchased a new position in CytomX Therapeutics in the 1st quarter valued at about $39,000. Woodline Partners LP purchased a new position in shares of CytomX Therapeutics in the first quarter valued at approximately $1,054,000. Assenagon Asset Management S.A. boosted its stake in shares of CytomX Therapeutics by 1.2% in the second quarter. Assenagon Asset Management S.A. now owns 720,020 shares of the biotechnology company’s stock worth $1,634,000 after acquiring an additional 8,566 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake 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 last quarter. Finally, Geode Capital Management LLC increased its position in shares of CytomX Therapeutics by 103.4% during the second quarter. Geode Capital Management LLC now owns 1,745,176 shares of the biotechnology company’s stock worth $3,963,000 after purchasing an additional 887,218 shares in the last quarter. Institutional investors and hedge funds own 67.77% of the company’s stock.

About CytomX Therapeutics

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.