CytomX Therapeutics (NASDAQ:CTMX) Upgraded at Zacks Research

Zacks Research upgraded shares of CytomX Therapeutics (NASDAQ:CTMX) from a hold rating to a strong-buy rating in a research report sent to investors on Tuesday morning,Zacks.com reports.

CTMX has been the subject of a number of other research reports. HC Wainwright reduced their price target on CytomX Therapeutics from $17.00 to $11.00 and set a “buy” rating for the company in a research report on Monday, May 11th. Piper Sandler lifted their price objective on shares of CytomX Therapeutics from $10.00 to $12.00 and gave the company an “overweight” rating in a report on Monday, March 23rd. Wolfe Research started coverage on shares of CytomX Therapeutics in a research report on Tuesday, May 19th. They issued an “outperform” rating and a $6.00 price objective on the stock. Wall Street Zen raised shares of CytomX Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of CytomX Therapeutics in a report on Tuesday, June 16th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $12.10.

CytomX Therapeutics Price Performance

Shares of CytomX Therapeutics stock opened at $3.33 on Tuesday. The firm has a market cap of $566.73 million, a price-to-earnings ratio of -8.12 and a beta of 2.08. The stock’s 50-day moving average is $3.44 and its 200-day moving average is $4.35. CytomX Therapeutics has a one year low of $1.72 and a one year high of $8.21.

CytomX Therapeutics (NASDAQ:CTMX) last posted its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, topping 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 business had revenue of $10.26 million during the quarter, compared to the consensus estimate of $4.68 million. On average, equities analysts expect that CytomX Therapeutics will post -0.45 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Wells Fargo & Company MN boosted its holdings in shares of CytomX Therapeutics by 83.2% in the 4th 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 during the last quarter. Invesco Ltd. acquired a new position in CytomX Therapeutics during the second quarter worth $32,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in CytomX Therapeutics during the fourth quarter worth $35,000. Goldman Sachs Group Inc. bought a new stake in CytomX Therapeutics during the first quarter worth $39,000. Finally, May Hill Capital LLC acquired a new stake in CytomX Therapeutics in the fourth quarter valued at $46,000. 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.