CytomX Therapeutics, Inc. (NASDAQ:CTMX) Receives $12.10 Average Target Price from Analysts

CytomX Therapeutics, Inc. (NASDAQ:CTMX) has been assigned an average recommendation of “Buy” from the twelve ratings firms that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, nine have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $11.90.

A number of analysts have issued reports on CTMX shares. JPMorgan Chase & Co. decreased their price target on CytomX Therapeutics from $12.00 to $11.00 and set an “overweight” rating for the company in a report on Thursday. Wolfe Research assumed coverage on CytomX Therapeutics in a report on Tuesday, May 19th. They issued an “outperform” rating and a $6.00 price objective on the stock. Zacks Research raised CytomX Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 21st. HC Wainwright decreased 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. Finally, Guggenheim decreased their target price on CytomX Therapeutics from $15.00 to $14.00 and set a “buy” rating for the company in a research note on Monday.

Institutional Trading of CytomX Therapeutics

Several institutional investors have recently modified their holdings of CTMX. Wells Fargo & Company MN boosted its holdings in shares of CytomX Therapeutics by 83.2% in 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. acquired a new stake in CytomX Therapeutics during the 2nd quarter worth $32,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in CytomX Therapeutics during the 4th quarter worth $35,000. Goldman Sachs Group Inc. purchased a new stake in CytomX Therapeutics in the first quarter valued at $39,000. Finally, May Hill Capital LLC purchased a new stake in CytomX Therapeutics in the fourth quarter valued at $46,000. Hedge funds and other institutional investors own 67.77% of the company’s stock.

CytomX Therapeutics Stock Up 0.3%

Shares of CytomX Therapeutics stock opened at $3.36 on Friday. CytomX Therapeutics has a 52-week low of $1.77 and a 52-week high of $8.21. The company has a 50 day moving average of $3.37 and a 200 day moving average of $4.20. The company has a market capitalization of $732.14 million, a P/E ratio of -6.72 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) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). The firm had revenue of $1.42 million during the quarter, compared to analysts’ expectations of $12.39 million. CytomX Therapeutics had a negative net margin of 435.21% and a negative return on equity of 38.46%. As a group, research analysts anticipate that CytomX Therapeutics will post -0.4 earnings per share for the current fiscal year.

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.