CytomX Therapeutics (NASDAQ:CTMX) Raised to “Buy” at Jefferies Financial Group

Jefferies Financial Group upgraded shares of CytomX Therapeutics (NASDAQ:CTMX) from a hold rating to a buy rating in a report released on Monday, MarketBeat.com reports. They currently have $8.00 price target on the biotechnology company’s stock, up from their previous price target of $2.50.

CTMX has been the subject of a number of other research reports. JPMorgan Chase & Co. raised shares of CytomX Therapeutics from an underweight rating to a neutral rating in a research report on Monday, April 22nd. BMO Capital Markets restated a market perform rating and issued a $3.25 price target on shares of CytomX Therapeutics in a research report on Wednesday, May 1st. Finally, StockNews.com cut CytomX Therapeutics from a buy rating to a hold rating in a research report on Tuesday, April 23rd. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $6.53.

CytomX Therapeutics Stock Performance

Shares of NASDAQ:CTMX opened at $2.04 on Monday. The stock’s 50-day simple moving average is $2.37 and its two-hundred day simple moving average is $1.78. The stock has a market capitalization of $139.00 million, a price-to-earnings ratio of -102.00 and a beta of 1.09. CytomX Therapeutics has a 52-week low of $1.04 and a 52-week high of $5.85.

CytomX Therapeutics (NASDAQ:CTMX) last issued its quarterly earnings data on Monday, March 11th. The biotechnology company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.01). The firm had revenue of $26.61 million for the quarter, compared to analysts’ expectations of $23.36 million. As a group, equities analysts forecast that CytomX Therapeutics will post -0.25 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Sean A. Mccarthy sold 20,223 shares of the company’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $2.09, for a total value of $42,266.07. Following the completion of the transaction, the chief executive officer now owns 524,481 shares of the company’s stock, valued at $1,096,165.29. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last quarter, insiders sold 35,024 shares of company stock worth $73,200. Corporate insiders own 7.00% of the company’s stock.

Hedge Funds Weigh In On CytomX Therapeutics

Several hedge funds have recently modified their holdings of the stock. AlphaMark Advisors LLC boosted its position in shares of CytomX Therapeutics by 119.8% during the fourth quarter. AlphaMark Advisors LLC now owns 23,183 shares of the biotechnology company’s stock worth $36,000 after acquiring an additional 12,635 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of CytomX Therapeutics during the 1st quarter valued at about $57,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of CytomX Therapeutics during the first quarter valued at about $124,000. Congress Park Capital LLC increased its holdings in shares of CytomX Therapeutics by 112.8% in the fourth quarter. Congress Park Capital LLC now owns 239,300 shares of the biotechnology company’s stock worth $371,000 after purchasing an additional 126,850 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of CytomX Therapeutics by 737.4% in the third quarter. Bank of New York Mellon Corp now owns 266,836 shares of the biotechnology company’s stock worth $344,000 after buying an additional 234,970 shares in the last quarter. Hedge funds and other institutional investors own 67.77% of the company’s stock.

CytomX Therapeutics Company Profile

CytomX Therapeutics, Inc, an oncology-focused biopharmaceutical company, focuses on developing novel conditionally activated biologics localized to the tumor microenvironment. The company utilizes conditional activation platform technology for oncology biologics research and development comprising the validation of targets for antibody-drug conjugates (ADCs), opening therapeutic window for novel T-cell engagers (TCEs) targeting solid tumors, and increasing the therapeutic index for immune modulators, such as cytokines; and PROBODY platform in preclinical research in areas outside of oncology.