CytomX Therapeutics (NASDAQ:CTMX) Given New $12.00 Price Target at Piper Sandler

CytomX Therapeutics (NASDAQ:CTMX) had its target price hoisted by Piper Sandler from $10.00 to $12.00 in a report published on Monday,Benzinga reports. The brokerage currently has an overweight rating on the biotechnology company’s stock.

A number of other research analysts have also commented on CTMX. Guggenheim raised their price target on CytomX Therapeutics from $10.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, March 18th. Barclays increased their target price on shares of CytomX Therapeutics from $10.00 to $16.00 and gave the company an “overweight” rating in a research report on Thursday, March 19th. Oppenheimer reissued an “outperform” rating and set a $12.00 target price on shares of CytomX Therapeutics in a research note on Monday, March 16th. Cantor Fitzgerald boosted their price target on shares of CytomX Therapeutics from $6.00 to $10.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 4th. Finally, Wedbush upped their price target on shares of CytomX Therapeutics from $6.00 to $11.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 17th. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $13.44.

CytomX Therapeutics Stock Down 0.1%

NASDAQ:CTMX opened at $4.45 on Monday. The company has a market cap of $756.49 million, a PE ratio of -111.13 and a beta of 2.44. The business’s 50 day moving average is $5.28 and its two-hundred day moving average is $4.16. CytomX Therapeutics has a 52 week low of $0.40 and a 52 week high of $8.21.

CytomX Therapeutics (NASDAQ:CTMX) last issued its quarterly earnings results on Monday, March 16th. The biotechnology company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.14). CytomX Therapeutics had a negative net margin of 22.79% and a negative return on equity of 19.77%. The firm had revenue of $0.66 million during the quarter, compared to the consensus estimate of $7.33 million. As a group, sell-side analysts expect that CytomX Therapeutics will post -0.05 EPS for the current fiscal year.

Insider Transactions at CytomX Therapeutics

In other news, CEO Sean A. Mccarthy sold 118,969 shares of CytomX Therapeutics stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $6.42, for a total value of $763,780.98. Following the transaction, the chief executive officer owned 1,078,922 shares of the company’s stock, valued at $6,926,679.24. The trade was a 9.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Yu-Waye Chu sold 21,279 shares of the business’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $6.42, for a total transaction of $136,611.18. Following the completion of the sale, the insider owned 189,446 shares in the company, valued at $1,216,243.32. The trade was a 10.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 191,063 shares of company stock valued at $1,226,624 in the last three months. 6.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Squarepoint Ops LLC raised its position in CytomX Therapeutics by 4.5% during the fourth quarter. Squarepoint Ops LLC now owns 49,897 shares of the biotechnology company’s stock valued at $213,000 after buying an additional 2,169 shares during the period. Wells Fargo & Company MN lifted its position in CytomX Therapeutics by 83.2% in the 4th quarter. Wells Fargo & Company MN now owns 6,605 shares of the biotechnology company’s stock worth $28,000 after buying an additional 3,000 shares in the last quarter. Velan Capital Investment Management LP boosted its stake in shares of CytomX Therapeutics by 6.7% during the 3rd 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. Farther Finance Advisors LLC purchased a new position in shares of CytomX Therapeutics during the 3rd quarter valued at $25,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of CytomX Therapeutics in the fourth quarter worth $35,000. 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.