CytomX Therapeutics (NASDAQ:CTMX) Raised to Buy at StockNews.com

StockNews.com upgraded shares of CytomX Therapeutics (NASDAQ:CTMX) from a hold rating to a buy rating in a research report released on Tuesday.

Several other research firms have also issued reports on CTMX. HC Wainwright reiterated a “neutral” rating on shares of CytomX Therapeutics in a research note on Friday, March 7th. Wedbush reiterated an “outperform” rating and issued a $6.00 target price (up previously from $5.00) on shares of CytomX Therapeutics in a research note on Monday. Finally, Piper Sandler started coverage on CytomX Therapeutics in a research note on Monday, April 14th. They issued an “overweight” rating and a $2.50 target price on the stock.

CytomX Therapeutics Price Performance

CTMX stock opened at $2.50 on Tuesday. The business has a 50-day moving average price of $0.73 and a 200 day moving average price of $0.87. The company has a market capitalization of $201.55 million, a P/E ratio of 14.71 and a beta of 1.11. CytomX Therapeutics has a 1-year low of $0.40 and a 1-year high of $2.55.

CytomX Therapeutics (NASDAQ:CTMX) last released its quarterly earnings data on Monday, May 12th. The biotechnology company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.09. The firm had revenue of $50.92 million during the quarter, compared to the consensus estimate of $35.42 million. CytomX Therapeutics had a negative return on equity of 41.47% and a net margin of 10.96%. During the same period in the previous year, the company posted $0.17 earnings per share. On average, analysts anticipate that CytomX Therapeutics will post -0.05 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CytomX Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its stake in CytomX Therapeutics by 288,736.3% in the fourth quarter. JPMorgan Chase & Co. now owns 811,630 shares of the biotechnology company’s stock valued at $836,000 after purchasing an additional 811,349 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of CytomX Therapeutics by 32.7% during the fourth quarter. Renaissance Technologies LLC now owns 1,346,800 shares of the biotechnology company’s stock worth $1,387,000 after acquiring an additional 331,800 shares during the last quarter. Prudential Financial Inc. grew its stake in shares of CytomX Therapeutics by 76.2% during the fourth quarter. Prudential Financial Inc. now owns 64,300 shares of the biotechnology company’s stock worth $66,000 after acquiring an additional 27,800 shares during the last quarter. Schonfeld Strategic Advisors LLC grew its stake in shares of CytomX Therapeutics by 13.9% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 1,380,800 shares of the biotechnology company’s stock worth $1,422,000 after acquiring an additional 169,000 shares during the last quarter. Finally, Aspire Growth Partners LLC purchased a new stake in shares of CytomX Therapeutics during the fourth quarter worth about $42,000. Hedge funds and other institutional investors own 67.77% of the company’s stock.

About CytomX Therapeutics

CytomX Therapeutics, Inc, an oncology-focused biopharmaceutical company, focuses on developing novel conditionally activated biologics localized to the tumor microenvironment. The company utilizes conditional activation platform technology for oncology biologics research and development comprising the validation of targets for antibody-drug conjugates (ADCs), opening therapeutic window for novel T-cell engagers (TCEs) targeting solid tumors, and increasing the therapeutic index for immune modulators, such as cytokines; and PROBODY platform in preclinical research in areas outside of oncology.