CytomX Therapeutics, Inc. (NASDAQ:CTMX) Stock Has Consensus Price Target of $11.90 According to Analysts

CytomX Therapeutics, Inc. (NASDAQ:CTMX) has received a consensus recommendation of “Moderate Buy” from the twelve analysts that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $11.90.

A number of analysts recently issued reports on the stock. Guggenheim decreased their target price on shares of CytomX Therapeutics from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Monday, August 10th. Zacks Research downgraded CytomX Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 19th. Weiss Ratings reissued a “sell (d)” rating on shares of CytomX Therapeutics in a research note on Friday, September 11th. JPMorgan Chase & Co. reduced their price target on CytomX Therapeutics from $12.00 to $11.00 and set an “overweight” rating on the stock in a research note on Thursday, August 13th. Finally, Wall Street Zen cut CytomX Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday, August 23rd.

Hedge Funds Weigh In On CytomX Therapeutics

Large investors have recently added to or reduced their stakes in the business. Engineers Gate Manager LP grew its holdings in CytomX Therapeutics by 182.0% in the 2nd quarter. Engineers Gate Manager LP now owns 83,130 shares of the biotechnology company’s stock valued at $312,000 after buying an additional 53,653 shares during the period. Integrated Wealth Concepts LLC purchased a new position in shares of CytomX Therapeutics during the 2nd quarter worth about $47,000. Pale Fire Capital SE purchased a new position in shares of CytomX Therapeutics during the 2nd quarter worth about $86,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of CytomX Therapeutics by 16.0% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 219,779 shares of the biotechnology company’s stock worth $824,000 after acquiring an additional 30,379 shares during the last quarter. Finally, Hsbc Holdings PLC acquired a new stake in shares of CytomX Therapeutics in the second quarter worth approximately $103,000. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

CytomX Therapeutics Trading Up 2.2%

NASDAQ:CTMX opened at $2.75 on Friday. The firm has a market cap of $599.22 million, a price-to-earnings ratio of -5.50 and a beta of 2.14. The company’s 50-day moving average is $3.25 and its two-hundred day moving average is $3.69. CytomX Therapeutics has a 12-month low of $2.60 and a 12-month high of $8.21.

CytomX Therapeutics (NASDAQ:CTMX) last issued its quarterly earnings results on Thursday, August 6th. The biotechnology company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). The firm had revenue of $1.42 million for the quarter, compared to analysts’ expectations of $12.39 million. CytomX Therapeutics had a negative return on equity of 38.46% and a negative net margin of 435.21%. On average, equities research analysts forecast that CytomX Therapeutics will post -0.4 earnings per share for the current fiscal year.

About CytomX Therapeutics

CytomX Therapeutics, Inc (NASDAQ: CTMX) is a clinical-stage biopharmaceutical company focused on developing cancer therapies designed to selectively activate in the tumor microenvironment. The company’s Probody therapeutic platform uses molecular masking technology intended to limit antibody activity in healthy tissue and enable activation by proteases that are more prevalent in tumors.

CytomX’s pipeline includes investigational therapies spanning several modalities, including Probody drug conjugates, T-cell engagers and cytokine-based treatments.