Brokerages Set CytomX Therapeutics, Inc. (NASDAQ:CTMX) Target Price at $12.10

CytomX Therapeutics, Inc. (NASDAQ:CTMX) has received an average recommendation of “Moderate Buy” from the eleven brokerages that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, nine have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $12.10.

A number of equities analysts have weighed in on the company. Guggenheim upped their price target on CytomX Therapeutics from $10.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, March 18th. Oppenheimer restated an “outperform” rating and issued a $12.00 price target on shares of CytomX Therapeutics in a report on Monday, March 16th. Wolfe Research assumed coverage on CytomX Therapeutics in a report on Tuesday, May 19th. They issued an “outperform” rating and a $6.00 price target for the company. Barclays upped their price target on CytomX Therapeutics from $10.00 to $16.00 and gave the stock an “overweight” rating in a report on Thursday, March 19th. Finally, Jefferies Financial Group upped their price target on CytomX Therapeutics from $8.00 to $16.00 and gave the stock a “buy” rating in a report on Wednesday, March 18th.

Insider Buying and Selling

In other CytomX Therapeutics news, CFO Christopher Ogden sold 19,323 shares of the company’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 value of $124,053.66. Following the completion of the transaction, the chief financial officer owned 296,948 shares in the company, valued at $1,906,406.16. This represents a 6.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sean A. Mccarthy sold 118,969 shares of the company’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 value of $763,780.98. Following the completion of the transaction, the chief executive officer owned 1,078,922 shares of the company’s stock, valued at approximately $6,926,679.24. This represents a 9.93% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 191,063 shares of company stock worth $1,226,624 in the last 90 days. 6.60% of the stock is owned by insiders.

Institutional Trading of CytomX Therapeutics

Hedge funds have recently made changes to their positions in the stock. Squarepoint Ops LLC lifted its stake 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 purchasing an additional 2,169 shares during the last quarter. Wells Fargo & Company MN lifted its stake in 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 purchasing an additional 3,000 shares during the last quarter. Velan Capital Investment Management LP lifted its stake in CytomX Therapeutics by 6.7% during the third quarter. Velan Capital Investment Management LP now owns 80,000 shares of the biotechnology company’s stock worth $255,000 after purchasing an additional 5,000 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in CytomX Therapeutics during the fourth quarter worth $35,000. Finally, Raymond James Financial Inc. lifted its stake in CytomX Therapeutics by 3.5% during the third quarter. Raymond James Financial Inc. now owns 293,560 shares of the biotechnology company’s stock worth $936,000 after purchasing an additional 10,000 shares during the last quarter. Institutional investors and hedge funds own 67.77% of the company’s stock.

CytomX Therapeutics Stock Performance

CTMX opened at $3.60 on Monday. The firm has a 50 day moving average price of $4.21 and a 200 day moving average price of $4.54. The company has a market cap of $612.68 million, a PE ratio of -8.78 and a beta of 2.08. CytomX Therapeutics has a 1 year low of $1.72 and a 1 year high of $8.21.

CytomX Therapeutics (NASDAQ:CTMX) last posted its earnings results 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. The firm had revenue of $10.26 million during the quarter, compared to the consensus estimate of $4.68 million. CytomX Therapeutics had a negative net margin of 166.40% and a negative return on equity of 36.61%. On average, sell-side analysts predict that CytomX Therapeutics will post -0.46 earnings per share for the current year.

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.