CytomX Therapeutics (NASDAQ:CTMX) Trading Up 6.7% – Should You Buy?

CytomX Therapeutics, Inc. (NASDAQ:CTMX) was up 6.7% on Tuesday . The stock traded as high as $3.52 and last traded at $3.5850. 811,607 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 4,810,700 shares. The stock had previously closed at $3.36.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. lowered their target price on CytomX Therapeutics from $12.00 to $11.00 and set an “overweight” rating for the company in a research note on Thursday, August 13th. HC Wainwright dropped their target price on shares of CytomX Therapeutics from $17.00 to $11.00 and set a “buy” rating for the company in a research report on Monday, May 11th. Weiss Ratings reiterated a “sell (d)” rating on shares of CytomX Therapeutics in a report on Tuesday, June 16th. Guggenheim dropped their price objective on shares of CytomX Therapeutics from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Monday, August 10th. Finally, Wolfe Research began coverage on CytomX Therapeutics in a research report on Tuesday, May 19th. They issued an “outperform” rating and a $6.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, CytomX Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $11.90.

CytomX Therapeutics Trading Up 7.1%

The firm has a 50-day moving average price of $3.46 and a 200-day moving average price of $4.00. The company has a market capitalization of $784.44 million, a price-to-earnings ratio of -7.20 and a beta of 2.12.

CytomX Therapeutics (NASDAQ:CTMX) last announced its quarterly earnings data on Thursday, August 6th. The biotechnology company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.01). The firm had revenue of $1.42 million during the quarter, compared to analyst estimates of $12.39 million. CytomX Therapeutics had a negative net margin of 435.21% and a negative return on equity of 38.46%. Equities research analysts predict that CytomX Therapeutics, Inc. will post -0.4 EPS for the current fiscal year.

Hedge Funds Weigh In On CytomX Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of CTMX. Wells Fargo & Company MN raised its holdings in shares of CytomX Therapeutics by 83.2% during the fourth quarter. Wells Fargo & Company MN now owns 6,605 shares of the biotechnology company’s stock valued at $28,000 after acquiring an additional 3,000 shares during the period. Lido Advisors LLC bought a new position in CytomX Therapeutics during the first quarter valued at approximately $49,000. May Hill Capital LLC acquired a new stake in shares of CytomX Therapeutics in the 4th quarter valued at $46,000. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new stake in shares of CytomX Therapeutics in the first quarter worth about $52,000. Finally, Hsbc Holdings PLC acquired a new stake in CytomX Therapeutics in the 4th quarter worth approximately $52,000. Institutional investors and hedge funds 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.