CytomX Therapeutics (NASDAQ:CTMX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of CytomX Therapeutics (NASDAQ:CTMX) from a sell rating to a hold rating in a research note released on Saturday morning.

Several other equities analysts have also recently issued reports on the company. JPMorgan Chase & Co. decreased their price objective on CytomX Therapeutics from $12.00 to $11.00 and set an “overweight” rating for the company in a research note on Thursday, August 13th. HC Wainwright cut their target price on shares of CytomX Therapeutics from $17.00 to $11.00 and set a “buy” rating on the stock in a research note on Monday, May 11th. Wolfe Research began coverage on shares of CytomX Therapeutics in a report on Tuesday, May 19th. They issued an “outperform” rating and a $6.00 target price on the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of CytomX Therapeutics in a research note on Tuesday, June 16th. Finally, Zacks Research upgraded shares of CytomX Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 21st. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $11.90.

CytomX Therapeutics Stock Performance

Shares of CTMX stock opened at $3.45 on Friday. CytomX Therapeutics has a fifty-two week low of $1.88 and a fifty-two week high of $8.21. The company has a 50 day moving average price of $3.38 and a 200 day moving average price of $4.17. The stock has a market capitalization of $751.75 million, a P/E ratio of -6.90 and a beta of 2.12.

CytomX Therapeutics (NASDAQ:CTMX) last issued its quarterly earnings results on Thursday, August 6th. The biotechnology company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.01). CytomX Therapeutics had a negative net margin of 435.21% and a negative return on equity of 38.46%. The business had revenue of $1.42 million during the quarter, compared to analysts’ expectations of $12.39 million. On average, research analysts forecast that CytomX Therapeutics will post -0.4 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CTMX. Wells Fargo & Company MN increased its holdings in shares of CytomX Therapeutics by 83.2% in the 4th quarter. Wells Fargo & Company MN now owns 6,605 shares of the biotechnology company’s stock valued at $28,000 after acquiring an additional 3,000 shares during the last quarter. Invesco Ltd. purchased a new stake in CytomX Therapeutics during the second quarter worth approximately $32,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in CytomX Therapeutics during the fourth quarter worth approximately $35,000. Goldman Sachs Group Inc. acquired a new position in CytomX Therapeutics in the first quarter valued at approximately $39,000. Finally, May Hill Capital LLC acquired a new position in CytomX Therapeutics in the fourth quarter valued at approximately $46,000. 67.77% of the stock is owned by institutional investors and hedge funds.

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.