CytomX Therapeutics (NASDAQ:CTMX) Given “Outperform” Rating at Wedbush

Wedbush reissued their outperform rating on shares of CytomX Therapeutics (NASDAQ:CTMX) in a research note published on Friday,RTT News reports. The brokerage currently has a $5.00 price objective on the biotechnology company’s stock.

Separately, HC Wainwright restated a “neutral” rating on shares of CytomX Therapeutics in a research note on Friday. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, CytomX Therapeutics has an average rating of “Hold” and an average price target of $5.02.

CytomX Therapeutics Price Performance

Shares of CTMX opened at $0.66 on Friday. CytomX Therapeutics has a 1 year low of $0.60 and a 1 year high of $5.85. The stock’s fifty day moving average price is $0.84 and its two-hundred day moving average price is $1.02. The firm has a market cap of $52.03 million, a PE ratio of 3.91 and a beta of 1.01.

CytomX Therapeutics (NASDAQ:CTMX) last announced its quarterly earnings data on Thursday, March 6th. The biotechnology company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.45. The business had revenue of $38.09 million for the quarter, compared to analysts’ expectations of $13.53 million. CytomX Therapeutics had a negative return on equity of 41.47% and a net margin of 10.96%. Sell-side analysts anticipate that CytomX Therapeutics will post -0.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CytomX Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC grew its stake in CytomX Therapeutics by 17.3% during the third quarter. FMR LLC now owns 284,307 shares of the biotechnology company’s stock valued at $335,000 after acquiring an additional 41,949 shares in the last quarter. Geode Capital Management LLC boosted its holdings in CytomX Therapeutics by 4.4% in the 3rd quarter. Geode Capital Management LLC now owns 803,531 shares of the biotechnology company’s stock valued at $948,000 after purchasing an additional 34,032 shares during the period. US Bancorp DE purchased a new position in shares of CytomX Therapeutics during the 3rd quarter valued at $40,000. Virtu Financial LLC bought a new position in shares of CytomX Therapeutics in the third quarter worth $104,000. Finally, Traphagen Investment Advisors LLC purchased a new stake in shares of CytomX Therapeutics in the fourth quarter worth $31,000. 67.77% of the stock is currently owned by institutional investors.

About CytomX Therapeutics

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.