CytomX Therapeutics, Inc. (NASDAQ:CTMX) Receives $12.10 Consensus Price Target from Brokerages

Shares of CytomX Therapeutics, Inc. (NASDAQ:CTMX) have earned a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, nine have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $12.10.

Several analysts have recently weighed in on the company. Wolfe Research started coverage on CytomX Therapeutics in a report on Tuesday, May 19th. They issued an “outperform” rating and a $6.00 price objective for the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of CytomX Therapeutics in a report on Tuesday, June 16th. Barclays boosted their price target on shares of CytomX Therapeutics from $10.00 to $16.00 and gave the stock an “overweight” rating in a research report on Thursday, March 19th. HC Wainwright cut their price target on shares of CytomX Therapeutics from $17.00 to $11.00 and set a “buy” rating for the company in a report on Monday, May 11th. Finally, Wall Street Zen upgraded shares of CytomX Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 9th.

CytomX Therapeutics Price Performance

NASDAQ CTMX opened at $3.66 on Tuesday. CytomX Therapeutics has a 12 month low of $1.72 and a 12 month high of $8.21. The firm has a market capitalization of $622.90 million, a PE ratio of -8.93 and a beta of 2.08. The company’s 50 day simple moving average is $3.49 and its 200 day simple moving average is $4.38.

CytomX Therapeutics (NASDAQ:CTMX) last issued its quarterly earnings results on Thursday, May 7th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.04. CytomX Therapeutics had a negative return on equity of 36.61% and a negative net margin of 166.40%.The firm had revenue of $10.26 million during the quarter, compared to analyst estimates of $4.68 million. Sell-side analysts anticipate that CytomX Therapeutics will post -0.45 earnings per share for the current fiscal year.

Institutional Trading of CytomX Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Squarepoint Ops LLC boosted its holdings in CytomX Therapeutics by 4.5% during the fourth quarter. Squarepoint Ops LLC now owns 49,897 shares of the biotechnology company’s stock worth $213,000 after buying an additional 2,169 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of CytomX Therapeutics by 83.2% in the fourth quarter. Wells Fargo & Company MN now owns 6,605 shares of the biotechnology company’s stock valued at $28,000 after buying an additional 3,000 shares in the last quarter. Velan Capital Investment Management LP increased its holdings in shares of CytomX Therapeutics by 6.7% in 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of CytomX Therapeutics during the 4th quarter valued at $35,000. Finally, Raymond James Financial Inc. lifted its position in shares of CytomX Therapeutics by 3.5% during the 3rd quarter. Raymond James Financial Inc. now owns 293,560 shares of the biotechnology company’s stock valued at $936,000 after acquiring an additional 10,000 shares during the last quarter. 67.77% of the stock is owned by institutional investors and hedge funds.

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.