CytomX Therapeutics (NASDAQ:CTMX) Price Target Raised to $12.00

CytomX Therapeutics (NASDAQ:CTMX) had its price target raised by JPMorgan Chase & Co. from $11.00 to $12.00 in a research report sent to investors on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the biotechnology company’s stock.

A number of other brokerages have also recently commented on CTMX. Cantor Fitzgerald restated an “overweight” rating on shares of CytomX Therapeutics in a research report on Tuesday, October 13th. Zacks Research downgraded shares of CytomX Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 19th. Wedbush raised their target price on shares of CytomX Therapeutics from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Friday, November 6th. Wall Street Zen raised shares of CytomX Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, November 7th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of CytomX Therapeutics in a research report on Friday, September 11th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, CytomX Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $12.10.

CytomX Therapeutics Price Performance

Shares of CTMX stock remained flat at $2.04 during trading on Thursday. The company had a trading volume of 2,724,696 shares, compared to its average volume of 5,282,225. The company has a market cap of $444.73 million, a price-to-earnings ratio of -4.08 and a beta of 2.23. CytomX Therapeutics has a fifty-two week low of $1.90 and a fifty-two week high of $8.21. The stock’s 50 day simple moving average is $2.56 and its 200-day simple moving average is $3.72.

CytomX Therapeutics (NASDAQ:CTMX) last posted its quarterly earnings data on Thursday, November 5th. The biotechnology company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.02). The company had revenue of $1.69 million for the quarter, compared to the consensus estimate of $10.38 million. CytomX Therapeutics had a negative return on equity of 33.97% and a negative net margin of 608.98%. On average, analysts predict that CytomX Therapeutics will post -0.39 EPS for the current year.

Institutional Trading of CytomX Therapeutics

Several large investors have recently bought and sold shares of the business. Marshall Wace LLP grew its position in CytomX Therapeutics by 44.3% in the third quarter. Marshall Wace LLP now owns 4,362,687 shares of the biotechnology company’s stock valued at $11,867,000 after acquiring an additional 1,338,336 shares during the last quarter. Palumbo Wealth Management LLC bought a new position in CytomX Therapeutics in the 3rd quarter valued at approximately $217,000. Private Advisor Group LLC lifted its stake in CytomX Therapeutics by 154.1% in the 3rd quarter. Private Advisor Group LLC now owns 138,468 shares of the biotechnology company’s stock valued at $377,000 after purchasing an additional 83,966 shares during the last quarter. IFG Advisory LLC acquired a new stake in CytomX Therapeutics in the third quarter valued at approximately $569,000. Finally, Almanack Investment Partners LLC. acquired a new stake in CytomX Therapeutics in the third quarter valued at approximately $30,000. 67.77% of the stock is owned by institutional investors and hedge funds.

CytomX Therapeutics Company Profile

CytomX Therapeutics is a clinical-stage biopharmaceutical company focused on developing cancer treatments. Founded in 2008 and headquartered in South San Francisco, California, the company researches therapies designed to target tumors while limiting activity in healthy tissues. Its Probody platform uses molecular masks intended to keep therapeutic antibodies inactive until they encounter enzymes associated with the tumor environment. CytomX applies this approach to investigational medicines, including antibody-drug conjugates and immune-cell-engaging therapies.