CytomX Therapeutics (NASDAQ:CTMX) Rating Increased to Strong-Buy at Wolfe Research

Wolfe Research upgraded shares of CytomX Therapeutics (NASDAQ:CTMX) to a strong-buy rating in a research report released on Tuesday morning,Zacks.com reports.

Other research analysts have also recently issued research reports about the company. HC Wainwright lowered their target price on CytomX Therapeutics from $17.00 to $11.00 and set a “buy” rating for the company in a research note on Monday, May 11th. Oppenheimer restated an “outperform” rating and issued a $12.00 target price on shares of CytomX Therapeutics in a research note on Monday, March 16th. Jefferies Financial Group raised their target price on CytomX Therapeutics from $8.00 to $16.00 and gave the company a “buy” rating in a research note on Wednesday, March 18th. Guggenheim raised their target price on CytomX Therapeutics from $10.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, March 18th. Finally, Wall Street Zen upgraded CytomX Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $12.10.

CytomX Therapeutics Stock Up 4.0%

CTMX opened at $3.64 on Tuesday. The stock has a market cap of $619.49 million, a PE ratio of -8.88 and a beta of 2.18. The business has a 50 day moving average of $4.43 and a 200-day moving average of $4.55. CytomX Therapeutics has a 52 week low of $1.72 and a 52 week high of $8.21.

CytomX Therapeutics (NASDAQ:CTMX) last released its earnings results on Thursday, May 7th. The biotechnology company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.04. The company had revenue of $10.26 million during the quarter, compared to analysts’ expectations of $4.68 million. CytomX Therapeutics had a negative return on equity of 36.61% and a negative net margin of 166.40%. Equities analysts anticipate that CytomX Therapeutics will post -0.45 EPS for the current year.

Insider Buying and Selling

In related news, CFO Christopher Ogden sold 19,323 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $6.42, for a total transaction of $124,053.66. Following the completion of the transaction, the chief financial officer owned 296,948 shares of the company’s stock, valued at $1,906,406.16. This trade represents a 6.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sean A. Mccarthy sold 118,969 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $6.42, for a total value of $763,780.98. Following the transaction, the chief executive officer directly owned 1,078,922 shares of the company’s stock, valued at approximately $6,926,679.24. This trade represents a 9.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 191,063 shares of company stock worth $1,226,624 in the last 90 days. Corporate insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN increased its position in CytomX Therapeutics by 83.2% during the 4th quarter. Wells Fargo & Company MN now owns 6,605 shares of the biotechnology company’s stock valued at $28,000 after buying an additional 3,000 shares in the last quarter. Invesco Ltd. bought a new position in CytomX Therapeutics during the 2nd quarter valued at approximately $32,000. Mirae Asset Global Investments Co. Ltd. bought a new position in CytomX Therapeutics during the 4th quarter valued at approximately $35,000. Goldman Sachs Group Inc. bought a new position in CytomX Therapeutics during the 1st quarter valued at approximately $39,000. Finally, Truist Financial Corp bought a new position in CytomX Therapeutics during the 3rd quarter valued at approximately $40,000. Institutional investors own 67.77% of the company’s stock.

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.