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

Shares of CytomX Therapeutics, Inc. (NASDAQ:CTMX) have earned a consensus recommendation of “Moderate Buy” from the six research firms that are currently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $5.77.

CTMX has been the topic of a number of recent analyst reports. Piper Sandler upgraded CytomX Therapeutics from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $2.25 to $3.50 in a research note on Tuesday, May 28th. JPMorgan Chase & Co. upgraded CytomX Therapeutics from an “underweight” rating to a “neutral” rating in a research note on Monday, April 22nd. Wedbush upgraded CytomX Therapeutics from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $3.00 to $8.00 in a research note on Thursday, May 9th. HC Wainwright restated a “neutral” rating on shares of CytomX Therapeutics in a research note on Thursday, June 27th. Finally, Jefferies Financial Group upgraded CytomX Therapeutics from a “hold” rating to a “buy” rating and raised their price target for the company from $2.50 to $8.00 in a research note on Monday, May 6th.

Institutional Investors Weigh In On CytomX Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. Susquehanna Fundamental Investments LLC bought a new stake in CytomX Therapeutics during the first quarter valued at about $124,000. Congress Park Capital LLC boosted its position in CytomX Therapeutics by 112.8% during the fourth quarter. Congress Park Capital LLC now owns 239,300 shares of the biotechnology company’s stock valued at $371,000 after purchasing an additional 126,850 shares in the last quarter. Acadian Asset Management LLC boosted its position in CytomX Therapeutics by 1.7% during the first quarter. Acadian Asset Management LLC now owns 2,690,830 shares of the biotechnology company’s stock valued at $5,863,000 after purchasing an additional 44,640 shares in the last quarter. AlphaMark Advisors LLC boosted its position in CytomX Therapeutics by 119.8% during the fourth quarter. AlphaMark Advisors LLC now owns 23,183 shares of the biotechnology company’s stock valued at $36,000 after purchasing an additional 12,635 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in CytomX Therapeutics by 206.0% during the second quarter. Assenagon Asset Management S.A. now owns 1,238,499 shares of the biotechnology company’s stock valued at $1,511,000 after purchasing an additional 833,825 shares in the last quarter. Institutional investors own 67.77% of the company’s stock.

CytomX Therapeutics Trading Up 5.6 %

Shares of NASDAQ:CTMX opened at $1.50 on Tuesday. The stock has a 50 day moving average of $1.48 and a 200 day moving average of $1.85. The company has a market cap of $116.88 million, a PE ratio of 7.50 and a beta of 1.06. 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 results on Wednesday, May 8th. The biotechnology company reported $0.17 earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.23. The business had revenue of $41.46 million during the quarter, compared to the consensus estimate of $23.40 million. CytomX Therapeutics had a negative return on equity of 30.70% and a net margin of 13.87%. Equities research analysts predict that CytomX Therapeutics will post -0.14 earnings per share 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.