CytomX Therapeutics (NASDAQ:CTMX) Price Target Raised to $12.00

CytomX Therapeutics (NASDAQ:CTMX) had its price objective hoisted by Piper Sandler from $10.00 to $12.00 in a research report report published on Monday morning,Benzinga reports. They currently have an overweight rating on the biotechnology company’s stock.

CTMX has been the subject of several other reports. Cantor Fitzgerald lifted their target price on shares of CytomX Therapeutics from $6.00 to $10.00 and gave the stock an “overweight” rating in a report on Wednesday, February 4th. JPMorgan Chase & Co. raised shares of CytomX Therapeutics from a “neutral” rating to an “overweight” rating and raised their price target for the company from $7.00 to $12.00 in a research report on Monday, March 16th. Barclays boosted their price objective on shares of CytomX Therapeutics from $10.00 to $16.00 and gave the stock an “overweight” rating in a report on Thursday, March 19th. HC Wainwright upped their price objective on CytomX Therapeutics from $10.00 to $17.00 and gave the company a “buy” rating in a research report on Monday, March 16th. Finally, Weiss Ratings downgraded CytomX Therapeutics from a “hold (c-)” rating to a “sell (d)” rating in a research note on Thursday, March 19th. Nine analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $13.44.

CytomX Therapeutics Price Performance

Shares of NASDAQ:CTMX opened at $4.22 on Monday. CytomX Therapeutics has a 1-year low of $0.40 and a 1-year high of $8.21. The business has a fifty day moving average price of $5.28 and a 200-day moving average price of $4.18. The company has a market capitalization of $718.20 million, a PE ratio of -105.50 and a beta of 2.44.

CytomX Therapeutics (NASDAQ:CTMX) last announced its quarterly earnings results on Monday, March 16th. The biotechnology company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.14). CytomX Therapeutics had a negative return on equity of 19.77% and a negative net margin of 22.79%.The firm had revenue of $0.66 million during the quarter, compared to the consensus estimate of $7.33 million. On average, sell-side analysts anticipate that CytomX Therapeutics will post -0.05 earnings per share for the current fiscal year.

Insider Activity at CytomX Therapeutics

In other news, CFO Christopher Ogden sold 19,323 shares of CytomX Therapeutics stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $6.42, for a total value of $124,053.66. Following the completion of the sale, the chief financial officer directly owned 296,948 shares in the company, valued at $1,906,406.16. The trade was a 6.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Marcia Belvin sold 31,492 shares of the business’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $6.42, for a total transaction of $202,178.64. Following the transaction, the senior vice president directly owned 300,760 shares of the company’s stock, valued at $1,930,879.20. The trade was a 9.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 191,063 shares of company stock worth $1,226,624 over the last quarter. 6.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On CytomX Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in CTMX. Boothbay Fund Management LLC bought a new position in shares of CytomX Therapeutics during the 3rd quarter valued at $3,946,000. Baker BROS. Advisors LP boosted its stake in shares of CytomX Therapeutics by 22.0% in the 3rd quarter. Baker BROS. Advisors LP now owns 4,250,826 shares of the biotechnology company’s stock worth $13,560,000 after buying an additional 766,600 shares during the last quarter. Precision Wealth Strategies LLC bought a new stake in shares of CytomX Therapeutics in the third quarter worth $756,000. Inspire Investing LLC bought a new stake in shares of CytomX Therapeutics in the third quarter worth $1,667,000. Finally, Vivo Capital LLC purchased a new stake in CytomX Therapeutics during the second quarter valued at $13,096,000. Hedge funds and other institutional investors own 67.77% of the company’s stock.

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.