Brokerages Set CytomX Therapeutics, Inc. (NASDAQ:CTMX) Price Target at $9.00

Shares of CytomX Therapeutics, Inc. (NASDAQ:CTMX) have received a consensus recommendation of “Moderate Buy” from the eight analysts that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $9.00.

A number of equities analysts have weighed in on the stock. Guggenheim began coverage on shares of CytomX Therapeutics in a report on Tuesday, January 20th. They issued a “buy” rating and a $10.00 price target on the stock. Piper Sandler increased their target price on CytomX Therapeutics from $6.50 to $10.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 20th. HC Wainwright lifted their target price on CytomX Therapeutics from $5.00 to $10.00 and gave the company a “buy” rating in a report on Tuesday, November 11th. Wedbush restated an “outperform” rating and set a $6.00 price target on shares of CytomX Therapeutics in a research note on Friday, November 7th. Finally, Cantor Fitzgerald raised their price objective on CytomX Therapeutics from $6.00 to $10.00 and gave the stock an “overweight” rating in a report on Wednesday, February 4th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Empowered Funds LLC purchased a new stake in CytomX Therapeutics during the fourth quarter worth approximately $133,000. XTX Topco Ltd lifted its holdings in shares of CytomX Therapeutics by 63.9% during the 4th quarter. XTX Topco Ltd now owns 47,991 shares of the biotechnology company’s stock valued at $204,000 after acquiring an additional 18,705 shares in the last quarter. Virtus Investment Advisers LLC purchased a new stake in CytomX Therapeutics during the 4th quarter worth $270,000. Twinbeech Capital LP purchased a new stake in CytomX Therapeutics during the 4th quarter worth $75,000. Finally, Evolve Private Wealth LLC acquired a new stake in CytomX Therapeutics in the 4th quarter valued at $63,000. 67.77% of the stock is owned by institutional investors and hedge funds.

CytomX Therapeutics Price Performance

Shares of CTMX stock opened at $5.43 on Friday. The firm’s 50-day simple moving average is $4.91 and its 200-day simple moving average is $3.69. CytomX Therapeutics has a 1-year low of $0.40 and a 1-year high of $6.35. The firm has a market cap of $920.00 million, a P/E ratio of 13.58 and a beta of 2.44.

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.