CytomX Therapeutics (NASDAQ:CTMX) Stock Rating Upgraded by Zacks Research

CytomX Therapeutics (NASDAQ:CTMX) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

Other equities research analysts have also issued research reports about the stock. Weiss Ratings reissued a “sell (d)” rating on shares of CytomX Therapeutics in a report on Tuesday, June 16th. Wolfe Research started coverage on shares of CytomX Therapeutics in a research note on Tuesday, May 19th. They set an “outperform” rating and a $6.00 target price on the stock. Piper Sandler boosted their target price on shares of CytomX Therapeutics from $10.00 to $12.00 and gave the company an “overweight” rating in a report on Monday, March 23rd. HC Wainwright dropped their price target on shares of CytomX Therapeutics from $17.00 to $11.00 and set a “buy” rating for the company in a research note on Monday, May 11th. Finally, Wall Street Zen upgraded shares of CytomX Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday, May 9th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, CytomX Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $12.10.

CytomX Therapeutics Stock Down 2.6%

Shares of NASDAQ:CTMX opened at $3.33 on Tuesday. The business has a fifty day moving average of $3.45 and a two-hundred day moving average of $4.36. The stock has a market cap of $566.73 million, a P/E ratio of -8.12 and a beta of 2.08. CytomX Therapeutics has a 52-week low of $1.72 and a 52-week high of $8.21.

CytomX Therapeutics (NASDAQ:CTMX) last issued its earnings results on Thursday, May 7th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.04. CytomX Therapeutics had a negative return on equity of 36.61% and a negative net margin of 166.40%.The business had revenue of $10.26 million during the quarter, compared to the consensus estimate of $4.68 million. On average, equities analysts anticipate that CytomX Therapeutics will post -0.45 earnings per share for the current year.

Hedge Funds Weigh In On CytomX Therapeutics

Hedge funds have recently made changes to their positions in the stock. Wells Fargo & Company MN increased its holdings in 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. acquired a new position in CytomX Therapeutics during the second quarter worth $32,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in CytomX Therapeutics during the fourth quarter worth $35,000. Goldman Sachs Group Inc. acquired a new position in CytomX Therapeutics during the first quarter worth $39,000. Finally, May Hill Capital LLC purchased a new position in shares of CytomX Therapeutics during 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.