CytomX Therapeutics (NASDAQ:CTMX) Given New $3.59 Price Target at BMO Capital Markets

CytomX Therapeutics (NASDAQ:CTMX) had its price objective upped by equities research analysts at BMO Capital Markets from $3.25 to $3.59 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has a “market perform” rating on the biotechnology company’s stock. BMO Capital Markets’ price objective points to a potential upside of 52.77% from the stock’s previous close.

A number of other research firms also recently weighed in on CTMX. JPMorgan Chase & Co. raised shares of CytomX Therapeutics from an “underweight” rating to a “neutral” rating in a research report on Monday, April 22nd. StockNews.com downgraded shares of CytomX Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, April 23rd. HC Wainwright reaffirmed a “neutral” rating on shares of CytomX Therapeutics in a report on Thursday. Jefferies Financial Group raised shares of CytomX Therapeutics from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $2.50 to $8.00 in a report on Monday. Finally, Wedbush raised shares of CytomX Therapeutics from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $3.00 to $8.00 in a report on Thursday. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, CytomX Therapeutics has a consensus rating of “Hold” and a consensus target price of $6.53.

CytomX Therapeutics Stock Down 43.9 %

Shares of CTMX stock traded down $1.84 during trading hours on Thursday, hitting $2.35. 22,416,162 shares of the company were exchanged, compared to its average volume of 4,136,502. The firm has a market cap of $160.12 million, a PE ratio of -117.50 and a beta of 1.09. CytomX Therapeutics has a 1 year low of $1.04 and a 1 year high of $5.85. The firm has a fifty day moving average of $2.38 and a 200 day moving average of $1.78.

CytomX Therapeutics (NASDAQ:CTMX) last posted its quarterly earnings results on Monday, March 11th. The biotechnology company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.02 by ($0.01). The company had revenue of $26.61 million for the quarter, compared to analysts’ expectations of $23.36 million. Analysts expect that CytomX Therapeutics will post -0.25 earnings per share for the current year.

Insiders Place Their Bets

In other CytomX Therapeutics news, CEO Sean A. Mccarthy sold 20,223 shares of the business’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $2.09, for a total value of $42,266.07. Following the sale, the chief executive officer now directly owns 524,481 shares in the company, valued at $1,096,165.29. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last three months, insiders have sold 35,024 shares of company stock worth $73,200. 7.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CytomX Therapeutics

Institutional investors have recently bought and sold shares of the stock. AlphaMark Advisors LLC grew its stake in CytomX Therapeutics by 119.8% during the 4th quarter. AlphaMark Advisors LLC now owns 23,183 shares of the biotechnology company’s stock valued at $36,000 after acquiring an additional 12,635 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of CytomX Therapeutics in the 1st quarter valued at approximately $57,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of CytomX Therapeutics in the 1st quarter valued at approximately $124,000. Congress Park Capital LLC grew its stake in shares of CytomX Therapeutics by 112.8% in the 4th 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. Finally, Bank of New York Mellon Corp grew its stake in shares of CytomX Therapeutics by 737.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 266,836 shares of the biotechnology company’s stock valued at $344,000 after buying an additional 234,970 shares in the last quarter. Hedge funds and other 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.