CytomX Therapeutics (NASDAQ:CTMX) Stock Price Up 11.6% – Still a Buy?

CytomX Therapeutics, Inc. (NASDAQ:CTMX) shares were up 11.6% on Monday . The stock traded as high as $3.77 and last traded at $3.7950. Approximately 4,321,217 shares were traded during trading, a decline of 21% from the average daily volume of 5,449,205 shares. The stock had previously closed at $3.40.

Analysts Set New Price Targets

CTMX has been the topic of several recent research reports. Jefferies Financial Group lifted their price target on shares of CytomX Therapeutics from $8.00 to $16.00 and gave the company a “buy” rating in a research note on Wednesday, March 18th. JPMorgan Chase & Co. raised CytomX Therapeutics from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $7.00 to $12.00 in a report on Monday, March 16th. HC Wainwright lowered their price objective on shares of CytomX Therapeutics from $17.00 to $11.00 and set a “buy” rating for the company in a research report on Monday, May 11th. Wolfe Research initiated coverage on CytomX Therapeutics in a research note on Tuesday, May 19th. They issued an “outperform” rating and a $6.00 price target for the company. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of CytomX Therapeutics in a report on Tuesday, June 16th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $12.10.

CytomX Therapeutics Stock Up 9.9%

The firm has a market cap of $635.82 million, a P/E ratio of -9.06 and a beta of 2.08. The business’s 50 day moving average is $3.67 and its two-hundred day moving average is $4.42.

CytomX Therapeutics (NASDAQ:CTMX) last issued its quarterly earnings results on Thursday, May 7th. The biotechnology company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.04. CytomX Therapeutics had a negative net margin of 166.40% and a negative return on equity of 36.61%. The business had revenue of $10.26 million for the quarter, compared to analysts’ expectations of $4.68 million. Equities research analysts anticipate that CytomX Therapeutics, Inc. will post -0.45 EPS for the current year.

Institutional Investors Weigh In On CytomX Therapeutics

Several large investors have recently added to or reduced their stakes in the business. Seven Fleet Capital Management LP increased its holdings in CytomX Therapeutics by 2,119.7% in the first quarter. Seven Fleet Capital Management LP now owns 1,085,398 shares of the biotechnology company’s stock worth $5,101,000 after purchasing an additional 1,036,500 shares in the last quarter. DV Trading LLC acquired a new stake in shares of CytomX Therapeutics during the 1st quarter worth approximately $3,356,000. Perceptive Advisors LLC grew its position in shares of CytomX Therapeutics by 4.3% during the 1st quarter. Perceptive Advisors LLC now owns 10,098,824 shares of the biotechnology company’s stock worth $47,464,000 after buying an additional 418,639 shares during the period. Bank of America Corp DE increased its stake in shares of CytomX Therapeutics by 1,064.3% in 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 acquiring an additional 9,326,480 shares in the last quarter. Finally, Janus Henderson Group PLC bought a new stake in shares of CytomX Therapeutics in the 1st quarter valued at $220,000. Institutional investors and hedge funds own 67.77% of the company’s stock.

CytomX Therapeutics Company Profile

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.