CytomX Therapeutics, Inc. (NASDAQ:CTMX) Receives $12.10 Average Price Target from Brokerages

Shares of CytomX Therapeutics, Inc. (NASDAQ:CTMX) have received an average rating of “Buy” from the twelve brokerages that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, nine have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $12.00.

CTMX has been the subject of a number of analyst reports. Weiss Ratings reissued a “sell (d)” rating on shares of CytomX Therapeutics in a research note on Tuesday, June 16th. HC Wainwright decreased their price target on CytomX Therapeutics from $17.00 to $11.00 and set a “buy” rating for the company in a report on Monday, May 11th. Zacks Research upgraded CytomX Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 21st. Wall Street Zen raised CytomX Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, Wolfe Research started coverage on CytomX Therapeutics in a research note on Tuesday, May 19th. They issued an “outperform” rating and a $6.00 price objective on the stock.

CytomX Therapeutics Stock Down 0.6%

CTMX opened at $3.44 on Friday. The stock’s 50 day moving average price is $3.35 and its two-hundred day moving average price is $4.25. The firm has a market capitalization of $585.45 million, a P/E ratio of -6.88 and a beta of 2.12. CytomX Therapeutics has a 12-month low of $1.72 and a 12-month high of $8.21.

CytomX Therapeutics (NASDAQ:CTMX) last announced its earnings results on Thursday, August 6th. The biotechnology company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.01). The company had revenue of $1.42 million for the quarter, compared to analyst estimates 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, analysts anticipate that CytomX Therapeutics will post -0.45 earnings per share for the current year.

Institutional Trading of CytomX Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wells Fargo & Company MN boosted its holdings in CytomX Therapeutics by 83.2% in the fourth quarter. Wells Fargo & Company MN now owns 6,605 shares of the biotechnology company’s stock worth $28,000 after purchasing an additional 3,000 shares during the last quarter. Invesco Ltd. purchased a new stake in CytomX Therapeutics during the 2nd quarter valued at $32,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in CytomX Therapeutics during the 4th quarter valued at $35,000. Goldman Sachs Group Inc. purchased a new position in shares of CytomX Therapeutics in the 1st quarter worth $39,000. Finally, May Hill Capital LLC bought a new stake in shares of CytomX Therapeutics in the fourth quarter worth $46,000. 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.