CytomX Therapeutics (NASDAQ:CTMX) Upgraded at HC Wainwright

CytomX Therapeutics (NASDAQ:CTMX) was upgraded by research analysts at HC Wainwright from a “neutral” rating to a “buy” rating in a report issued on Thursday,Benzinga reports. The brokerage presently has a $5.00 price objective on the biotechnology company’s stock. HC Wainwright’s target price points to a potential upside of 110.08% from the company’s current price.

Several other research firms also recently commented on CTMX. StockNews.com upgraded shares of CytomX Therapeutics from a “hold” rating to a “buy” rating in a research note on Tuesday. Piper Sandler initiated coverage on shares of CytomX Therapeutics in a report on Monday, April 14th. They set an “overweight” rating and a $2.50 target price on the stock. Finally, Wedbush reiterated an “outperform” rating and issued a $6.00 price target (up from $5.00) on shares of CytomX Therapeutics in a research note on Monday.

CytomX Therapeutics Stock Performance

NASDAQ CTMX opened at $2.38 on Thursday. CytomX Therapeutics has a 52-week low of $0.40 and a 52-week high of $2.56. The stock has a market cap of $191.88 million, a PE ratio of 14.00 and a beta of 1.11. The firm has a 50-day moving average of $0.76 and a 200-day moving average of $0.88.

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

Institutional Investors Weigh In On CytomX Therapeutics

A number of large investors have recently modified their holdings of the business. Traphagen Investment Advisors LLC acquired a new stake in CytomX Therapeutics in the fourth quarter valued at approximately $31,000. Miller Financial Services LLC bought a new position in shares of CytomX Therapeutics in the 4th quarter valued at $26,000. Monimus Capital Management LP bought a new position in shares of CytomX Therapeutics in the 4th quarter valued at $375,000. Prudential Financial Inc. boosted its holdings in shares of CytomX Therapeutics by 76.2% during the 4th quarter. Prudential Financial Inc. now owns 64,300 shares of the biotechnology company’s stock valued at $66,000 after acquiring an additional 27,800 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in CytomX Therapeutics by 288,736.3% during the 4th quarter. JPMorgan Chase & Co. now owns 811,630 shares of the biotechnology company’s stock worth $836,000 after acquiring an additional 811,349 shares during the last quarter. Institutional investors and hedge funds 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.