CytomX Therapeutics (NASDAQ:CTMX) Stock Price Up 11.6% – Should You Buy?

CytomX Therapeutics, Inc. (NASDAQ:CTMX)’s stock price rose 11.6% during trading on Monday . The company traded as high as $3.77 and last traded at $3.7950. 4,321,217 shares were traded during mid-day trading, a decline of 21% from the average daily volume of 5,449,205 shares. The stock had previously closed at $3.40.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CTMX. Barclays upped their price objective on shares of CytomX Therapeutics from $10.00 to $16.00 and gave the company an “overweight” rating in a report on Thursday, March 19th. Jefferies Financial Group upped their price target on CytomX Therapeutics from $8.00 to $16.00 and gave the stock a “buy” rating in a research note on Wednesday, March 18th. JPMorgan Chase & Co. raised CytomX Therapeutics from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $7.00 to $12.00 in a research note on Monday, March 16th. Wall Street Zen upgraded CytomX Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday, May 9th. Finally, Wedbush increased their target price on CytomX Therapeutics from $6.00 to $11.00 and gave the stock an “outperform” rating in a report on Tuesday, March 17th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, CytomX Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $12.10.

CytomX Therapeutics Price Performance

The company has a fifty day moving average of $3.67 and a 200-day moving average of $4.42. The firm has a market cap of $635.82 million, a P/E ratio of -9.06 and a beta of 2.08.

CytomX Therapeutics (NASDAQ:CTMX) last posted its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $4.68 million. On average, sell-side analysts expect that CytomX Therapeutics, Inc. will post -0.45 EPS for the current fiscal year.

Institutional Trading of CytomX Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. Bank of America Corp DE grew its stake in CytomX Therapeutics by 1,064.3% in the 1st quarter. Bank of America Corp DE now owns 10,202,785 shares of the biotechnology company’s stock valued at $47,953,000 after purchasing an additional 9,326,480 shares during the period. Orbimed Advisors LLC bought a new stake in CytomX Therapeutics in the second quarter worth about $19,208,000. Commodore Capital LP bought a new stake in CytomX Therapeutics in the second quarter worth about $17,462,000. Perceptive Advisors LLC purchased a new position in CytomX Therapeutics in the second quarter valued at about $15,876,000. Finally, State Street Corp boosted its stake in CytomX Therapeutics by 697.1% in the fourth quarter. State Street Corp now owns 5,140,931 shares of the biotechnology company’s stock valued at $21,900,000 after acquiring an additional 4,495,949 shares during the last quarter. 67.77% of the stock is owned by hedge funds and other institutional investors.

CytomX Therapeutics Company Profile

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.