CytomX Therapeutics, Inc. (NASDAQ:CTMX) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of CytomX Therapeutics, Inc. (NASDAQ:CTMX) have received an average rating of “Moderate Buy” from the six research firms that are currently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $5.77.

Several equities research analysts recently issued reports on CTMX shares. Wedbush upgraded CytomX Therapeutics from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $3.00 to $8.00 in a report on Thursday, May 9th. Piper Sandler raised CytomX Therapeutics from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $2.25 to $3.50 in a research note on Tuesday, May 28th. BMO Capital Markets lifted their target price on shares of CytomX Therapeutics from $3.25 to $3.59 and gave the stock a “market perform” rating in a research note on Thursday, May 9th. Jefferies Financial Group upgraded shares of CytomX Therapeutics from a “hold” rating to a “buy” rating and increased their target price for the company from $2.50 to $8.00 in a research report on Monday, May 6th. Finally, HC Wainwright restated a “neutral” rating on shares of CytomX Therapeutics in a research report on Thursday.

Institutional Investors Weigh In On CytomX Therapeutics

Hedge funds have recently modified their holdings of the company. SG Americas Securities LLC acquired a new position in CytomX Therapeutics in the 1st quarter valued at about $57,000. Acadian Asset Management LLC grew its position in CytomX Therapeutics by 1.4% in the second quarter. Acadian Asset Management LLC now owns 2,728,569 shares of the biotechnology company’s stock worth $3,324,000 after acquiring an additional 37,739 shares during the period. Cubist Systematic Strategies LLC grew its position in CytomX Therapeutics by 96.6% in the second quarter. Cubist Systematic Strategies LLC now owns 82,054 shares of the biotechnology company’s stock worth $100,000 after acquiring an additional 40,309 shares during the period. Forefront Analytics LLC increased its stake in CytomX Therapeutics by 206.7% during the second quarter. Forefront Analytics LLC now owns 64,065 shares of the biotechnology company’s stock worth $78,000 after acquiring an additional 43,176 shares during the last quarter. Finally, XTX Topco Ltd raised its position in CytomX Therapeutics by 382.6% in the second quarter. XTX Topco Ltd now owns 60,586 shares of the biotechnology company’s stock valued at $74,000 after purchasing an additional 48,033 shares during the period. Hedge funds and other institutional investors own 67.77% of the company’s stock.

CytomX Therapeutics Price Performance

CytomX Therapeutics stock opened at $1.21 on Friday. The stock has a market capitalization of $94.28 million, a PE ratio of 6.05 and a beta of 1.06. The business has a 50 day simple moving average of $1.31 and a 200-day simple moving average of $1.80. CytomX Therapeutics has a 12 month low of $1.04 and a 12 month high of $5.85.

CytomX Therapeutics (NASDAQ:CTMX) last posted its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). CytomX Therapeutics had a negative return on equity of 30.70% and a net margin of 13.87%. The company had revenue of $25.12 million for the quarter, compared to analyst estimates of $21.79 million. During the same quarter in the prior year, the company posted ($0.02) earnings per share. On average, equities research analysts anticipate that CytomX Therapeutics will post -0.14 EPS for the current fiscal year.

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.