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

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

CTMX has been the subject of several analyst reports. Jefferies Financial Group upgraded CytomX Therapeutics from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $2.50 to $8.00 in a research report on Monday, May 6th. Wedbush upgraded CytomX Therapeutics from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $3.00 to $8.00 in a research report on Thursday, May 9th. StockNews.com downgraded CytomX Therapeutics from a “buy” rating to a “hold” rating in a research report on Monday, June 17th. HC Wainwright restated a “neutral” rating on shares of CytomX Therapeutics in a research report on Thursday, June 27th. Finally, Piper Sandler upgraded CytomX Therapeutics from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $2.25 to $3.50 in a research report on Tuesday, May 28th.

CytomX Therapeutics Trading Up 5.6 %

Shares of NASDAQ CTMX opened at $1.50 on Tuesday. The stock has a 50 day simple moving average of $1.48 and a 200-day simple 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 issued its quarterly earnings data on Wednesday, May 8th. The biotechnology company reported $0.17 earnings per share (EPS) 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%. Sell-side analysts forecast that CytomX Therapeutics will post -0.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Susquehanna Fundamental Investments LLC bought a new position in shares of CytomX Therapeutics in the first quarter valued at $124,000. Congress Park Capital LLC increased its holdings in shares of CytomX Therapeutics by 112.8% in the fourth quarter. Congress Park Capital LLC now owns 239,300 shares of the biotechnology company’s stock valued at $371,000 after buying an additional 126,850 shares in the last quarter. Acadian Asset Management LLC increased its holdings in shares of CytomX Therapeutics by 1.7% in 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 buying an additional 44,640 shares in the last quarter. AlphaMark Advisors LLC increased its holdings in shares of CytomX Therapeutics by 119.8% in the fourth quarter. AlphaMark Advisors LLC now owns 23,183 shares of the biotechnology company’s stock valued at $36,000 after buying an additional 12,635 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in shares of CytomX Therapeutics by 206.0% in 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 buying an additional 833,825 shares in the last quarter. Institutional investors own 67.77% of the company’s stock.

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.