CytomX Therapeutics (NASDAQ:CTMX) Sets New 1-Year High – Should You Buy?

CytomX Therapeutics, Inc. (NASDAQ:CTMX)’s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $6.15 and last traded at $5.8270, with a volume of 1467627 shares changing hands. The stock had previously closed at $5.29.

Analyst Ratings Changes

CTMX has been the subject of several recent analyst reports. Barclays lifted their price target on CytomX Therapeutics from $6.00 to $8.00 and gave the company an “overweight” rating in a report on Tuesday. Wedbush restated an “outperform” rating and issued a $6.00 target price on shares of CytomX Therapeutics in a report on Friday, November 7th. Weiss Ratings raised shares of CytomX Therapeutics from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, October 8th. Guggenheim initiated coverage on shares of CytomX Therapeutics in a report on Tuesday. They issued a “buy” rating and a $10.00 price target on the stock. Finally, Wall Street Zen downgraded CytomX Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $8.14.

CytomX Therapeutics Stock Up 10.1%

The stock has a 50 day simple moving average of $4.19 and a 200 day simple moving average of $3.21. The company has a market cap of $986.93 million, a price-to-earnings ratio of 14.59 and a beta of 2.42.

CytomX Therapeutics (NASDAQ:CTMX) last posted its earnings results on Thursday, November 6th. The biotechnology company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.05). The company had revenue of $5.96 million during the quarter, compared to analyst estimates of $11.50 million. CytomX Therapeutics had a net margin of 24.66% and a return on equity of 44.49%. As a group, equities research analysts expect that CytomX Therapeutics, Inc. will post -0.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC acquired a new stake in CytomX Therapeutics during the 4th quarter valued at $226,000. JPMorgan Chase & Co. boosted its position in CytomX Therapeutics by 5,648.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 16,152 shares of the biotechnology company’s stock valued at $52,000 after buying an additional 15,871 shares during the last quarter. Financial Engines Advisors L.L.C. acquired a new stake in shares of CytomX Therapeutics during the third quarter valued at about $4,407,000. Jacobs Levy Equity Management Inc. acquired a new stake in shares of CytomX Therapeutics during the third quarter valued at about $162,000. Finally, Velan Capital Investment Management LP increased its position in shares of CytomX Therapeutics by 6.7% during the third quarter. Velan Capital Investment Management LP now owns 80,000 shares of the biotechnology company’s stock worth $255,000 after acquiring an additional 5,000 shares during the last quarter. 67.77% of the stock is owned by institutional investors and hedge funds.

CytomX Therapeutics Company Profile

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.