CytomX Therapeutics (NASDAQ:CTMX) Trading 11.6% Higher – Still a Buy?

Shares of CytomX Therapeutics, Inc. (NASDAQ:CTMX) rose 11.6% during trading on Monday . The stock traded as high as $3.77 and last traded at $3.7950. 4,321,217 shares changed hands during mid-day trading, a decline of 21% from the average daily volume of 5,449,205 shares. The stock had previously closed at $3.40.

Analysts Set New Price Targets

CTMX has been the topic of several analyst reports. Wolfe Research initiated coverage on shares of CytomX Therapeutics in a report on Tuesday, May 19th. They issued an “outperform” rating and a $6.00 price target on the stock. Oppenheimer reiterated an “outperform” rating and set a $12.00 target price on shares of CytomX Therapeutics in a research report on Monday, March 16th. JPMorgan Chase & Co. raised shares of CytomX Therapeutics from a “neutral” rating to an “overweight” rating and upped their target price for the company from $7.00 to $12.00 in a research note on Monday, March 16th. Barclays increased their price target on shares of CytomX Therapeutics from $10.00 to $16.00 and gave the stock an “overweight” rating in a research report on Thursday, March 19th. Finally, Wedbush raised their price target on shares of CytomX Therapeutics from $6.00 to $11.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 17th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $12.10.

CytomX Therapeutics Stock Down 3.1%

The stock has a fifty day simple moving average of $3.62 and a 200-day simple moving average of $4.42. The company has a market capitalization of $618.64 million, a P/E ratio of -8.87 and a beta of 2.08.

CytomX Therapeutics (NASDAQ:CTMX) last posted its earnings results on Thursday, May 7th. The biotechnology company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.04. CytomX Therapeutics had a negative net margin of 166.40% and a negative return on equity of 36.61%. The business had revenue of $10.26 million for the quarter, compared to analyst estimates of $4.68 million. Analysts predict that CytomX Therapeutics, Inc. will post -0.45 earnings per share for the current fiscal year.

Institutional Trading of CytomX Therapeutics

Several hedge funds have recently modified their holdings of the company. Bank of America Corp DE raised its stake in shares of CytomX Therapeutics by 1,064.3% in the first quarter. Bank of America Corp DE now owns 10,202,785 shares of the biotechnology company’s stock valued at $47,953,000 after acquiring an additional 9,326,480 shares during the last quarter. Perceptive Advisors LLC grew its position in CytomX Therapeutics by 4.3% during the 1st quarter. Perceptive Advisors LLC now owns 10,098,824 shares of the biotechnology company’s stock worth $47,464,000 after acquiring an additional 418,639 shares during the last quarter. Orbimed Advisors LLC bought a new stake in CytomX Therapeutics during the 2nd quarter worth approximately $19,208,000. Commodore Capital LP acquired a new stake in CytomX Therapeutics during the 2nd quarter valued at $17,462,000. Finally, State Street Corp raised its position in CytomX Therapeutics by 697.1% in the 4th quarter. State Street Corp now owns 5,140,931 shares of the biotechnology company’s stock valued at $21,900,000 after purchasing an additional 4,495,949 shares during the last quarter. Institutional investors and hedge funds 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.