CytomX Therapeutics (NASDAQ:CTMX) Stock Gets Price Target Boost from Wedbush

CytomX Therapeutics (NASDAQ:CTMX) had its target price raised by analysts at Wedbush from $11.00 to $12.00 in a research note issued on Friday, Benzinga reports. The firm currently has an “outperform” rating on the biotechnology company’s stock. Wedbush‘s target price suggests a potential upside of 449.20% from the company’s current price.

Other research analysts have also recently issued reports about the company. Zacks Research cut CytomX Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 19th. Guggenheim lowered their price target on CytomX Therapeutics from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Monday, August 10th. JPMorgan Chase & Co. lowered their price target on CytomX Therapeutics from $12.00 to $11.00 and set an “overweight” rating on the stock in a research report on Thursday, August 13th. Wall Street Zen cut CytomX Therapeutics from a “hold” rating to a “sell” rating in a research note on Sunday, August 23rd. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of CytomX Therapeutics in a report on Friday, September 11th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, CytomX Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.00.

CytomX Therapeutics Trading Up 2.1%

Shares of CytomX Therapeutics stock traded up $0.04 during trading hours on Friday, reaching $2.19. 835,161 shares of the company’s stock were exchanged, compared to its average volume of 4,662,844. The company has a 50 day moving average of $2.74 and a two-hundred day moving average of $3.83. CytomX Therapeutics has a fifty-two week low of $2.11 and a fifty-two week high of $8.21. The stock has a market cap of $476.11 million, a P/E ratio of -4.37 and a beta of 2.23.

CytomX Therapeutics (NASDAQ:CTMX) last announced its quarterly earnings data on Thursday, November 5th. The biotechnology company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.02). The company had revenue of $1.69 million during the quarter, compared to the consensus estimate of $10.38 million. CytomX Therapeutics had a negative net margin of 435.21% and a negative return on equity of 38.46%. As a group, analysts expect that CytomX Therapeutics will post -0.40 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CytomX Therapeutics

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of CytomX Therapeutics during the 2nd quarter worth about $65,849,000. Bank of America Corp DE acquired a new position in CytomX Therapeutics in the 2nd quarter valued at about $56,560,000. Elmind Capital LP bought a new position in CytomX Therapeutics in the 2nd quarter valued at about $17,062,500. Siren L.L.C. bought a new position in CytomX Therapeutics in the 1st quarter valued at about $16,251,000. Finally, ADAR1 Capital Management LLC bought a new position in CytomX Therapeutics in the 2nd quarter valued at about $12,619,000. 67.77% of the stock is currently owned by institutional investors and hedge funds.

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.