CytomX Therapeutics, Inc. (NASDAQ:CTMX) Receives $6.67 Average Price Target from Analysts

CytomX Therapeutics, Inc. (NASDAQ:CTMX) has been assigned a consensus recommendation of “Moderate Buy” from the seven analysts that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is $6.6667.

A number of equities analysts have recently commented on CTMX shares. Wedbush restated an “outperform” rating and set a $6.00 price objective on shares of CytomX Therapeutics in a research note on Friday, November 7th. Barclays upped their target price on CytomX Therapeutics from $3.50 to $6.00 and gave the stock an “overweight” rating in a report on Tuesday, October 21st. Weiss Ratings upgraded CytomX Therapeutics from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, October 8th. Wall Street Zen cut CytomX Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Finally, HC Wainwright increased their price objective on CytomX Therapeutics from $5.00 to $10.00 and gave the company a “buy” rating in a report on Tuesday, November 11th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of CytomX Therapeutics in the 1st quarter valued at about $62,000. Forefront Analytics LLC increased its position in CytomX Therapeutics by 55.7% during the first quarter. Forefront Analytics LLC now owns 100,070 shares of the biotechnology company’s stock worth $63,000 after buying an additional 35,811 shares during the last quarter. Aspire Growth Partners LLC increased its position in CytomX Therapeutics by 126.2% during the first quarter. Aspire Growth Partners LLC now owns 92,254 shares of the biotechnology company’s stock worth $59,000 after buying an additional 51,474 shares during the last quarter. Velan Capital Investment Management LP raised its stake in CytomX Therapeutics by 114.3% in the first quarter. Velan Capital Investment Management LP now owns 75,000 shares of the biotechnology company’s stock valued at $48,000 after buying an additional 40,000 shares during the period. Finally, RA Capital Management L.P. acquired a new stake in shares of CytomX Therapeutics in the first quarter valued at approximately $636,000. Institutional investors own 67.77% of the company’s stock.

CytomX Therapeutics Stock Down 3.2%

NASDAQ CTMX opened at $3.95 on Monday. The firm’s 50 day moving average is $3.67 and its 200-day moving average is $2.77. The company has a market capitalization of $669.25 million, a PE ratio of 9.88 and a beta of 2.37. CytomX Therapeutics has a 12-month low of $0.40 and a 12-month high of $4.62.

CytomX Therapeutics (NASDAQ:CTMX) last announced its earnings results on Thursday, November 6th. The biotechnology company reported ($0.09) EPS for the quarter, missing the consensus estimate 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 analyst estimates of $11.50 million. As a group, sell-side analysts expect that CytomX Therapeutics will post -0.05 EPS for the current year.

About CytomX Therapeutics

CytomX Therapeutics, Inc, an oncology-focused biopharmaceutical company, focuses on developing novel conditionally activated biologics localized to the tumor microenvironment. The company utilizes conditional activation platform technology for oncology biologics research and development comprising the validation of targets for antibody-drug conjugates (ADCs), opening therapeutic window for novel T-cell engagers (TCEs) targeting solid tumors, and increasing the therapeutic index for immune modulators, such as cytokines; and PROBODY platform in preclinical research in areas outside of oncology.