Analysts Set CytomX Therapeutics, Inc. (NASDAQ:CTMX) PT at $11.90

Shares of CytomX Therapeutics, Inc. (NASDAQ:CTMX) have earned a consensus rating of “Moderate Buy” from the twelve analysts that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, nine have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $11.90.

CTMX has been the topic of several research reports. HC Wainwright reduced their target price on CytomX Therapeutics from $17.00 to $11.00 and set a “buy” rating on the stock in a report on Monday, May 11th. Guggenheim cut their price target on CytomX Therapeutics from $15.00 to $14.00 and set a “buy” rating for the company in a report on Monday, August 10th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of CytomX Therapeutics in a research note on Tuesday, June 16th. Wolfe Research started coverage on CytomX Therapeutics in a research report on Tuesday, May 19th. They set an “outperform” rating and a $6.00 target price for the company. Finally, Wall Street Zen cut shares of CytomX Therapeutics from a “hold” rating to a “sell” rating in a research report on Sunday, August 23rd.

CytomX Therapeutics Stock Performance

Shares of CTMX stock opened at $3.71 on Wednesday. CytomX Therapeutics has a 12 month low of $1.90 and a 12 month high of $8.21. The stock has a market cap of $808.41 million, a P/E ratio of -7.42 and a beta of 2.14. The company has a 50 day simple moving average of $3.49 and a two-hundred day simple moving average of $3.96.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CTMX. Wells Fargo & Company MN lifted its stake 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 purchasing an additional 3,000 shares during the last quarter. Invesco Ltd. bought a new position in CytomX Therapeutics during the second quarter valued at $32,000. Goldman Sachs Group Inc. purchased a new stake in shares of CytomX Therapeutics in the first quarter valued at $39,000. May Hill Capital LLC purchased a new stake in shares of CytomX Therapeutics in the fourth quarter valued at $46,000. Finally, Nierenberg Investment Management Company LLC bought a new stake in shares of CytomX Therapeutics in the 2nd quarter worth about $47,081. Hedge funds and other institutional investors own 67.77% of the company’s stock.

About CytomX Therapeutics

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.