CytomX Therapeutics, Inc. (NASDAQ:CTMX) Given Average Rating of “Moderate Buy” by Analysts

Shares of CytomX Therapeutics, Inc. (NASDAQ:CTMX) have earned an average rating of “Moderate Buy” from the eleven ratings firms that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $12.10.

Several brokerages have weighed in on CTMX. Wall Street Zen upgraded shares of CytomX Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 9th. Weiss Ratings reiterated a “sell (d)” rating on shares of CytomX Therapeutics in a report on Tuesday, June 16th. Piper Sandler increased their price objective on CytomX Therapeutics from $10.00 to $12.00 and gave the company an “overweight” rating in a report on Monday, March 23rd. Wolfe Research assumed coverage on CytomX Therapeutics in a research report on Tuesday, May 19th. They issued an “outperform” rating and a $6.00 price objective for the company. Finally, HC Wainwright dropped their target price on CytomX Therapeutics from $17.00 to $11.00 and set a “buy” rating on the stock in a research note on Monday, May 11th.

Institutional Investors Weigh In On CytomX Therapeutics

Several institutional investors have recently added to or reduced their stakes in CTMX. Bank of America Corp DE increased its holdings in shares of CytomX Therapeutics by 1,064.3% during the first quarter. Bank of America Corp DE now owns 10,202,785 shares of the biotechnology company’s stock valued at $47,953,000 after acquiring an additional 9,326,480 shares in the last quarter. Orbimed Advisors LLC purchased a new position in shares of CytomX Therapeutics in the 2nd quarter valued at approximately $19,208,000. Commodore Capital LP acquired a new stake in CytomX Therapeutics in the 2nd quarter worth approximately $17,462,000. Perceptive Advisors LLC acquired a new stake in CytomX Therapeutics in the 2nd quarter worth approximately $15,876,000. Finally, State Street Corp grew its position in CytomX Therapeutics by 697.1% during the 4th quarter. State Street Corp now owns 5,140,931 shares of the biotechnology company’s stock worth $21,900,000 after purchasing an additional 4,495,949 shares during the last quarter. Institutional investors and hedge funds own 67.77% of the company’s stock.

CytomX Therapeutics Stock Performance

CTMX stock opened at $3.52 on Tuesday. CytomX Therapeutics has a one year low of $1.72 and a one year high of $8.21. The firm has a market cap of $599.07 million, a price-to-earnings ratio of -8.59 and a beta of 2.08. The firm has a 50-day simple moving average of $3.47 and a two-hundred day simple moving average of $4.37.

CytomX Therapeutics (NASDAQ:CTMX) last issued its quarterly earnings data 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. The firm had revenue of $10.26 million for the quarter, compared to the consensus estimate of $4.68 million. CytomX Therapeutics had a negative net margin of 166.40% and a negative return on equity of 36.61%. As a group, equities analysts predict that CytomX Therapeutics will post -0.45 earnings per share for the current fiscal year.

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.