Nomura Boosts CytomX Therapeutics, Inc. (CTMX) Price Target to $44.00
CytomX Therapeutics, Inc. (NASDAQ:CTMX) had its target price hoisted by Nomura to $44.00 in a research note released on Wednesday morning. The brokerage currently has a buy rating on the biotechnology company’s stock.
CTMX has been the topic of a number of other reports. Wedbush started coverage on shares of CytomX Therapeutics in a report on Thursday, September 7th. They issued an outperform rating and a $26.00 target price on the stock. Jefferies Group LLC set a $25.00 target price on shares of CytomX Therapeutics and gave the stock a buy rating in a report on Friday, August 25th. ValuEngine downgraded shares of CytomX Therapeutics from a hold rating to a sell rating in a report on Friday, September 15th. Bank of America Corporation restated a buy rating and issued a $30.00 target price (up from $28.00) on shares of CytomX Therapeutics in a report on Wednesday, August 9th. Finally, BidaskClub upgraded shares of CytomX Therapeutics from a sell rating to a hold rating in a report on Wednesday, August 9th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $32.67.
CytomX Therapeutics (CTMX) traded down 2.54% on Wednesday, hitting $21.50. 444,671 shares of the stock traded hands. The company’s 50 day moving average price is $17.37 and its 200-day moving average price is $15.69. The stock’s market cap is $792.64 million. CytomX Therapeutics has a 52-week low of $9.85 and a 52-week high of $24.67.
CytomX Therapeutics (NASDAQ:CTMX) last posted its earnings results on Monday, August 7th. The biotechnology company reported ($0.69) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.30). CytomX Therapeutics had a negative return on equity of 84.61% and a negative net margin of 206.33%. The business had revenue of $8.75 million during the quarter, compared to the consensus estimate of $4.95 million. On average, analysts forecast that CytomX Therapeutics will post ($1.47) earnings per share for the current fiscal year.
In other CytomX Therapeutics news, major shareholder Robert I. Tepper sold 24,777 shares of the business’s stock in a transaction dated Wednesday, October 4th. The shares were sold at an average price of $24.34, for a total value of $603,072.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sean A. Mccarthy sold 19,120 shares of the business’s stock in a transaction dated Wednesday, October 4th. The shares were sold at an average price of $24.13, for a total transaction of $461,365.60. Following the completion of the sale, the chief executive officer now directly owns 23,365 shares of the company’s stock, valued at $563,797.45. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 177,794 shares of company stock valued at $3,806,089. 4.70% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in CTMX. Legal & General Group Plc boosted its position in CytomX Therapeutics by 28.6% in the 2nd quarter. Legal & General Group Plc now owns 6,448 shares of the biotechnology company’s stock valued at $101,000 after buying an additional 1,434 shares during the period. First Quadrant L P CA purchased a new stake in CytomX Therapeutics in the 2nd quarter valued at about $160,000. Cubist Systematic Strategies LLC purchased a new stake in CytomX Therapeutics in the 2nd quarter valued at about $174,000. Goldman Sachs Group Inc. purchased a new stake in CytomX Therapeutics in the 1st quarter valued at about $190,000. Finally, Voya Investment Management LLC purchased a new stake in CytomX Therapeutics in the 2nd quarter valued at about $203,000. 59.97% of the stock is owned by institutional investors.
About CytomX Therapeutics
CytomX Therapeutics, Inc is a clinical-stage, oncology-focused biopharmaceutical company. The Company uses its Probody technology platform to create cancer immunotherapies against clinically validated targets, as well as to develop cancer therapeutics against difficult-to-drug targets. Its pipeline is focused on the development of therapies in a set of modalities: Probody cancer immunotherapies, Probody drug conjugates, T-cell engaging Probody bispecifics and ProCAR-NK cell therapies.
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