CytomX Therapeutics, Inc. (NASDAQ:CTMX) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of CytomX Therapeutics, Inc. (NASDAQ:CTMX) have been given an average rating of “Moderate Buy” by the eleven ratings firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $12.10.

Several equities research analysts have issued reports on the stock. HC Wainwright lowered their price target on shares of CytomX Therapeutics from $17.00 to $11.00 and set a “buy” rating on the stock in a research note on Monday, May 11th. Barclays lifted their price target on shares of CytomX Therapeutics from $10.00 to $16.00 and gave the company an “overweight” rating in a research note on Thursday, March 19th. Wall Street Zen upgraded shares of CytomX Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 9th. Guggenheim lifted their price target on shares of CytomX Therapeutics from $10.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, March 18th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of CytomX Therapeutics in a research note on Tuesday, June 16th.

CytomX Therapeutics Trading Down 1.5%

Shares of CTMX stock opened at $3.27 on Friday. CytomX Therapeutics has a 1 year low of $1.72 and a 1 year high of $8.21. The firm’s fifty day moving average price is $3.69 and its two-hundred day moving average price is $4.42. The firm has a market capitalization of $556.51 million, a P/E ratio of -7.98 and a beta of 2.08.

CytomX Therapeutics (NASDAQ:CTMX) last issued its quarterly earnings results on Thursday, May 7th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.04. CytomX Therapeutics had a negative net margin of 166.40% and a negative return on equity of 36.61%. The firm had revenue of $10.26 million for the quarter, compared to analyst estimates of $4.68 million. As a group, equities research analysts forecast that CytomX Therapeutics will post -0.45 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CTMX. Bank of America Corp DE increased its stake in shares of CytomX Therapeutics by 1,064.3% during the 1st quarter. Bank of America Corp DE now owns 10,202,785 shares of the biotechnology company’s stock worth $47,953,000 after purchasing an additional 9,326,480 shares during the last quarter. Orbimed Advisors LLC acquired a new position in shares of CytomX Therapeutics during the 2nd quarter worth about $19,208,000. Commodore Capital LP acquired a new position in shares of CytomX Therapeutics during the 2nd quarter worth about $17,462,000. Perceptive Advisors LLC acquired a new position in shares of CytomX Therapeutics during the 2nd quarter worth about $15,876,000. Finally, State Street Corp increased its stake in shares of CytomX Therapeutics by 697.1% during the 4th quarter. State Street Corp now owns 5,140,931 shares of the biotechnology company’s stock worth $21,900,000 after purchasing an additional 4,495,949 shares during the last quarter. 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 the discovery and development of next-generation therapeutics based on its proprietary Probody® platform. The company engineers masked antibody prodrugs that remain inactive in healthy tissue but are selectively activated in the tumor microenvironment. This approach is designed to enhance the safety and tolerability of antibody-based therapies, particularly those targeting immuno-oncology pathways.

At the core of CytomX’s pipeline is Pacmilimab (CX-072), an anti–PD-L1 Probody therapeutic currently undergoing clinical evaluation for multiple solid tumor indications.