Wall Street Zen Upgrades CytomX Therapeutics (NASDAQ:CTMX) to “Hold”

CytomX Therapeutics (NASDAQ:CTMX) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

CTMX has been the subject of a number of other reports. Weiss Ratings restated a “sell (d)” rating on shares of CytomX Therapeutics in a research note on Tuesday, June 16th. Guggenheim dropped their target price on shares of CytomX Therapeutics from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Monday, August 10th. HC Wainwright cut their target price on shares of CytomX Therapeutics from $17.00 to $11.00 and set a “buy” rating for the company in a research report on Monday, May 11th. JPMorgan Chase & Co. cut their target price on shares of CytomX Therapeutics from $12.00 to $11.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, Zacks Research raised CytomX Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 21st. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $11.90.

CytomX Therapeutics Price Performance

CytomX Therapeutics stock opened at $3.36 on Friday. The company has a market capitalization of $732.14 million, a price-to-earnings ratio of -6.72 and a beta of 2.12. CytomX Therapeutics has a one year low of $1.77 and a one year high of $8.21. The company’s fifty day moving average price is $3.37 and its two-hundred day moving average price is $4.19.

CytomX Therapeutics (NASDAQ:CTMX) last announced its quarterly earnings results on Thursday, August 6th. The biotechnology company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). The company had revenue of $1.42 million during the quarter, compared to analyst estimates of $12.39 million. CytomX Therapeutics had a negative return on equity of 38.46% and a negative net margin of 435.21%. As a group, sell-side analysts anticipate that CytomX Therapeutics will post -0.4 earnings per share for the current year.

Hedge Funds Weigh In On CytomX Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CTMX. 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 worth $28,000 after acquiring an additional 3,000 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in CytomX Therapeutics during the 4th quarter valued at $35,000. Lido Advisors LLC bought a new position in CytomX Therapeutics in the 1st quarter valued at $49,000. May Hill Capital LLC bought a new position in CytomX Therapeutics in the 4th quarter valued at $46,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. acquired a new position in CytomX Therapeutics in the first quarter worth $52,000. 67.77% of the stock is currently owned by institutional investors and hedge funds.

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.