Brokerages Set CytomX Therapeutics, Inc. (NASDAQ:CTMX) Price Target at $9.00

CytomX Therapeutics, Inc. (NASDAQ:CTMX) has been assigned an average recommendation of “Moderate Buy” from the eight research firms that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $9.00.

Several analysts have recently issued reports on CTMX shares. HC Wainwright lifted their target price on shares of CytomX Therapeutics from $5.00 to $10.00 and gave the company a “buy” rating in a research report on Tuesday, November 11th. Guggenheim started coverage on shares of CytomX Therapeutics in a research note on Tuesday, January 20th. They issued a “buy” rating and a $10.00 price target on the stock. Piper Sandler lifted their price objective on CytomX Therapeutics from $6.50 to $10.00 and gave the stock an “overweight” rating in a report on Tuesday, January 20th. Barclays boosted their price objective on CytomX Therapeutics from $8.00 to $10.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 4th. Finally, Wall Street Zen downgraded CytomX Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CTMX. Wells Fargo & Company MN grew its holdings in shares of CytomX Therapeutics by 83.2% during the fourth 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. Farther Finance Advisors LLC purchased a new position in shares of CytomX Therapeutics in the third quarter worth about $25,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in CytomX Therapeutics during the fourth quarter worth about $35,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in CytomX Therapeutics during the 3rd quarter valued at about $34,000. Finally, May Hill Capital LLC purchased a new stake in CytomX Therapeutics during the 4th quarter valued at about $46,000. Hedge funds and other institutional investors own 67.77% of the company’s stock.

CytomX Therapeutics Price Performance

Shares of NASDAQ:CTMX opened at $5.32 on Friday. The business’s 50 day moving average price is $4.80 and its 200-day moving average price is $3.62. CytomX Therapeutics has a 1 year low of $0.40 and a 1 year high of $6.35. The firm has a market capitalization of $901.37 million, a price-to-earnings ratio of 13.30 and a beta of 2.44.

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.