CytomX Therapeutics, Inc. (NASDAQ:CTMX) Given Average Recommendation of “Moderate Buy” by Brokerages

CytomX Therapeutics, Inc. (NASDAQ:CTMX) has been given a consensus recommendation of “Moderate Buy” by the eight analysts that are covering the firm, MarketBeat reports. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $9.00.

CTMX has been the subject of several research reports. Guggenheim began coverage on shares of CytomX Therapeutics in a research note on Tuesday, January 20th. They set a “buy” rating and a $10.00 price objective for the company. Wall Street Zen downgraded shares of CytomX Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. 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. Wedbush reiterated an “outperform” rating and set a $6.00 price objective on shares of CytomX Therapeutics in a research note on Friday, November 7th. Finally, Barclays upped their target price on CytomX Therapeutics from $8.00 to $10.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 4th.

CytomX Therapeutics Stock Down 2.0%

CTMX stock opened at $5.32 on Friday. The stock has a market capitalization of $901.37 million, a PE ratio of 13.30 and a beta of 2.44. CytomX Therapeutics has a 52 week low of $0.40 and a 52 week high of $6.35. The firm has a 50 day moving average of $4.77 and a 200 day moving average of $3.58.

Hedge Funds Weigh In On CytomX Therapeutics

A number of large investors have recently bought and sold shares of the business. Marshall Wace LLP grew its holdings in CytomX Therapeutics by 4.7% in the fourth quarter. Marshall Wace LLP now owns 1,156,936 shares of the biotechnology company’s stock valued at $4,929,000 after purchasing an additional 51,943 shares during the period. Hudson Bay Capital Management LP acquired a new stake in CytomX Therapeutics in the 4th quarter valued at $217,000. Bank of Nova Scotia acquired a new stake in CytomX Therapeutics in the 4th quarter valued at $58,000. Rafferty Asset Management LLC purchased a new stake in CytomX Therapeutics in the 4th quarter worth $1,165,000. Finally, First Trust Advisors LP raised its position in CytomX Therapeutics by 5.3% during the fourth quarter. First Trust Advisors LP now owns 423,168 shares of the biotechnology company’s stock worth $1,803,000 after acquiring an additional 21,277 shares during the period. Institutional investors and hedge funds 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.