CytomX Therapeutics (NASDAQ:CTMX) Hits New 1-Year High – Still a Buy?

Shares of CytomX Therapeutics, Inc. (NASDAQ:CTMX) hit a new 52-week high during trading on Tuesday . The stock traded as high as $3.79 and last traded at $3.74, with a volume of 6106233 shares traded. The stock had previously closed at $3.20.

Wall Street Analysts Forecast Growth

CTMX has been the topic of a number of research analyst reports. Oppenheimer began coverage on shares of CytomX Therapeutics in a research note on Thursday, July 31st. They set an “outperform” rating and a $7.00 price objective for the company. Cantor Fitzgerald began coverage on CytomX Therapeutics in a research report on Monday, September 22nd. They issued an “overweight” rating and a $6.00 target price on the stock. Barclays began coverage on CytomX Therapeutics in a research report on Wednesday, September 17th. They set an “overweight” rating and a $3.50 price target for the company. Finally, Weiss Ratings upgraded CytomX Therapeutics from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, CytomX Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $5.42.

CytomX Therapeutics Stock Performance

The company’s fifty day moving average is $2.49 and its two-hundred day moving average is $2.09. The firm has a market cap of $616.76 million, a price-to-earnings ratio of 6.68 and a beta of 2.27.

Institutional Investors Weigh In On CytomX Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of CTMX. Orbimed Advisors LLC purchased a new stake in shares of CytomX Therapeutics during the 2nd quarter valued at about $19,208,000. Commodore Capital LP acquired a new stake in CytomX Therapeutics in the second quarter valued at approximately $17,462,000. Perceptive Advisors LLC acquired a new stake in CytomX Therapeutics in the second quarter valued at approximately $15,876,000. Franklin Resources Inc. purchased a new stake in shares of CytomX Therapeutics during the second quarter valued at approximately $13,096,000. Finally, Vivo Capital LLC purchased a new stake in shares of CytomX Therapeutics during the second quarter valued at approximately $13,096,000. 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.