CytomX Therapeutics (NASDAQ:CTMX) Earns Outperform Rating from Wedbush

CytomX Therapeutics (NASDAQ:CTMX)‘s stock had its “outperform” rating restated by equities research analysts at Wedbush in a report issued on Friday,RTT News reports. They currently have a $6.00 price target on the biotechnology company’s stock. Wedbush’s price objective would indicate a potential upside of 65.75% from the stock’s current price.

CTMX has been the topic of several other reports. Barclays raised their target price on CytomX Therapeutics from $3.50 to $6.00 and gave the company an “overweight” rating in a research report on Tuesday, October 21st. Oppenheimer started coverage on CytomX Therapeutics in a report on Thursday, July 31st. They set an “outperform” rating and a $7.00 price target on the stock. Weiss Ratings raised shares of CytomX Therapeutics from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, October 8th. Finally, Cantor Fitzgerald initiated coverage on shares of CytomX Therapeutics in a research report on Monday, September 22nd. They issued an “overweight” rating and a $6.00 target price for the company. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $5.83.

CytomX Therapeutics Trading Down 13.6%

NASDAQ:CTMX traded down $0.57 during mid-day trading on Friday, hitting $3.62. The stock had a trading volume of 7,772,047 shares, compared to its average volume of 3,388,178. The company has a 50 day simple moving average of $2.95 and a 200-day simple moving average of $2.38. The stock has a market capitalization of $596.99 million, a price-to-earnings ratio of 6.46 and a beta of 2.29. CytomX Therapeutics has a 52 week low of $0.40 and a 52 week high of $4.62.

CytomX Therapeutics (NASDAQ:CTMX) last announced its quarterly earnings results on Thursday, November 6th. The biotechnology company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.05). The firm had revenue of $5.96 million during the quarter, compared to analyst estimates of $11.50 million. CytomX Therapeutics had a net margin of 34.04% and a return on equity of 158.70%. As a group, equities research analysts anticipate that CytomX Therapeutics will post -0.05 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Orbimed Advisors LLC purchased a new stake in shares of CytomX Therapeutics in the 2nd quarter valued at approximately $19,208,000. Commodore Capital LP purchased a new position in CytomX Therapeutics during the 2nd quarter worth approximately $17,462,000. Perceptive Advisors LLC acquired a new stake in CytomX Therapeutics during the 2nd quarter valued at $15,876,000. Franklin Resources Inc. purchased a new stake in shares of CytomX Therapeutics in the second quarter valued at $13,096,000. Finally, Vivo Capital LLC acquired a new stake in shares of CytomX Therapeutics in the second quarter worth $13,096,000. Institutional investors own 67.77% of the company’s stock.

CytomX Therapeutics Company Profile

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.