CytomX Therapeutics (NASDAQ:CTMX) Shares Climb 7% – Should You Buy?

Shares of CytomX Therapeutics, Inc. (NASDAQ:CTMX) rose 7% during trading on Thursday. The company traded as high as $2.40 and last traded at $2.3850. 500,549 shares were traded during mid-day trading, a decline of 89% from the average session volume of 4,693,170 shares. The stock had previously closed at $2.23.

Analyst Ratings Changes

A number of brokerages recently weighed in on CTMX. Wall Street Zen downgraded shares of CytomX Therapeutics from a “hold” rating to a “sell” rating in a research report on Sunday, August 23rd. Cantor Fitzgerald restated an “overweight” rating on shares of CytomX Therapeutics in a report on Tuesday. Zacks Research downgraded shares of CytomX Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 19th. Guggenheim cut their target price on shares of CytomX Therapeutics from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Monday, August 10th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of CytomX Therapeutics in a report on Friday, September 11th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.90.

CytomX Therapeutics Price Performance

The stock has a market capitalization of $496.81 million, a price-to-earnings ratio of -4.56 and a beta of 2.21. The business has a 50 day simple moving average of $3.05 and a 200-day simple moving average of $3.49.

CytomX Therapeutics (NASDAQ:CTMX) last released its quarterly earnings results on Thursday, August 6th. The biotechnology company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). CytomX Therapeutics had a negative return on equity of 38.46% and a negative net margin of 435.21%. The business had revenue of $1.42 million for the quarter, compared to analyst estimates of $12.39 million. As a group, equities analysts predict that CytomX Therapeutics, Inc. will post -0.40 earnings per share for the current year.

Institutional Trading of CytomX Therapeutics

Several hedge funds have recently bought and sold shares of CTMX. Integrated Wealth Concepts LLC acquired a new position in shares of CytomX Therapeutics in the second quarter valued at approximately $47,000. Nierenberg Investment Management Company LLC acquired a new stake in shares of CytomX Therapeutics during the second quarter worth $47,081. Lido Advisors LLC acquired a new stake in shares of CytomX Therapeutics during the first quarter worth $49,000. TRB Wealth Management LLC acquired a new stake in shares of CytomX Therapeutics during the second quarter worth $50,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in CytomX Therapeutics in the 1st quarter valued at $52,000. 67.77% of the stock is currently owned by institutional investors and hedge funds.

About CytomX Therapeutics

CytomX Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing antibody-based medicines for cancer and other serious diseases. The company’s technology is designed to keep therapeutic antibodies inactive in healthy tissue and activate them in disease sites, particularly within the tumor microenvironment, with the goal of improving treatment precision and reducing systemic toxicity.

CytomX’s Probody Therapeutics platform uses conditionally activated antibodies and related molecules.