CytomX Therapeutics, Inc. (NASDAQ:CTMX) Stock Rated “Moderate Buy” by Wall Street Analysts

Shares of CytomX Therapeutics, Inc. (NASDAQ:CTMX) have earned an average rating of “Moderate Buy” from the twelve brokerages that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $11.90.

Several research analysts recently issued reports on CTMX shares. Weiss Ratings reiterated a “sell (d)” rating on shares of CytomX Therapeutics in a research note on Friday, September 11th. Zacks Research lowered shares of CytomX Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 19th. Cantor Fitzgerald restated an “overweight” rating on shares of CytomX Therapeutics in a report on Tuesday, October 13th. Wall Street Zen downgraded shares of CytomX Therapeutics from a “hold” rating to a “sell” rating in a research note on Sunday, August 23rd. Finally, JPMorgan Chase & Co. decreased their target price on shares of CytomX Therapeutics from $12.00 to $11.00 and set an “overweight” rating for the company in a research note on Thursday, August 13th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE increased its stake in CytomX Therapeutics by 1,064.3% during the 1st quarter. Bank of America Corp DE now owns 10,202,785 shares of the biotechnology company’s stock valued at $47,953,000 after purchasing an additional 9,326,480 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in shares of CytomX Therapeutics in the second quarter worth approximately $531,000. Wellington Management Group LLP lifted its stake in shares of CytomX Therapeutics by 44.3% in the second quarter. Wellington Management Group LLP now owns 5,168,961 shares of the biotechnology company’s stock worth $19,384,000 after buying an additional 1,585,976 shares in the last quarter. Stonepine Capital Management LLC purchased a new stake in shares of CytomX Therapeutics during the second quarter valued at approximately $768,750. Finally, BlackRock Inc. bought a new stake in shares of CytomX Therapeutics during the second quarter valued at approximately $65,849,000. Institutional investors own 67.77% of the company’s stock.

CytomX Therapeutics Stock Performance

Shares of NASDAQ:CTMX opened at $2.22 on Thursday. CytomX Therapeutics has a 52-week low of $2.18 and a 52-week high of $8.21. The firm has a market capitalization of $483.74 million, a P/E ratio of -4.44 and a beta of 2.21. The stock has a 50 day moving average price of $2.94 and a 200-day moving average price of $3.92.

CytomX Therapeutics (NASDAQ:CTMX) last released its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $12.39 million. CytomX Therapeutics had a negative net margin of 435.21% and a negative return on equity of 38.46%. On average, equities analysts forecast that CytomX Therapeutics will post -0.40 EPS for the current fiscal year.

CytomX Therapeutics Company Profile

CytomX Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing cancer medicines designed to be activated selectively within the tumor microenvironment. The company’s approach is intended to improve the precision of treatment by limiting activity in healthy tissues while enabling therapeutic effects at tumor sites.

CytomX’s research is based on its Probody therapeutic platform, which uses molecular masking and tumor-associated protease activity to conditionally activate antibody-based medicines.