Cantor Fitzgerald Raises CytomX Therapeutics (NASDAQ:CTMX) Price Target to $10.00

CytomX Therapeutics (NASDAQ:CTMX) had its target price upped by equities research analysts at Cantor Fitzgerald from $6.00 to $10.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the biotechnology company’s stock. Cantor Fitzgerald’s price objective indicates a potential upside of 74.61% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. Wedbush reaffirmed an “outperform” rating and set a $6.00 price target on shares of CytomX Therapeutics in a research report on Friday, November 7th. Guggenheim began coverage on CytomX Therapeutics in a report on Tuesday, January 20th. They set a “buy” rating and a $10.00 price objective on the stock. HC Wainwright upped their price objective on CytomX Therapeutics from $5.00 to $10.00 and gave the stock a “buy” rating in a report on Tuesday, November 11th. Wall Street Zen lowered shares of CytomX Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Finally, Weiss Ratings upgraded CytomX Therapeutics from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, October 8th. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $9.00.

CytomX Therapeutics Trading Down 5.7%

Shares of CTMX traded down $0.34 during midday trading on Wednesday, reaching $5.73. The stock had a trading volume of 830,541 shares, compared to its average volume of 3,240,263. CytomX Therapeutics has a one year low of $0.40 and a one year high of $6.35. The firm has a 50 day simple moving average of $4.55 and a 200-day simple moving average of $3.43. The firm has a market cap of $970.33 million, a PE ratio of 14.51 and a beta of 2.44.

CytomX Therapeutics (NASDAQ:CTMX) last released its quarterly earnings results on Thursday, November 6th. The biotechnology company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.05). CytomX Therapeutics had a return on equity of 44.49% and a net margin of 24.66%.The business had revenue of $5.96 million for the quarter, compared to the consensus estimate of $11.50 million. As a group, research analysts forecast that CytomX Therapeutics will post -0.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Farther Finance Advisors LLC purchased a new position in shares of CytomX Therapeutics in the third quarter worth $25,000. Invesco Ltd. bought a new position in CytomX Therapeutics during the second quarter valued at approximately $32,000. Pursue Wealth Partners LLC purchased a new position in CytomX Therapeutics during the 2nd quarter valued at approximately $33,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in shares of CytomX Therapeutics during the 3rd quarter worth approximately $34,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of CytomX Therapeutics in the 4th quarter valued at about $35,000. Hedge funds and other 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.