CytomX Therapeutics, Inc. (NASDAQ:CTMX) Stock Has Average Target Price of $11.90

Shares of CytomX Therapeutics, Inc. (NASDAQ:CTMX) have been given a consensus rating of “Moderate Buy” by the twelve brokerages that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, nine have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $11.90.

Several equities research analysts have commented on CTMX shares. Guggenheim decreased their price objective on shares of CytomX Therapeutics from $15.00 to $14.00 and set a “buy” rating for the company in a research note on Monday, August 10th. Zacks Research downgraded CytomX Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 19th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of CytomX Therapeutics in a report on Friday, September 11th. JPMorgan Chase & Co. decreased their price target on CytomX Therapeutics from $12.00 to $11.00 and set an “overweight” rating for the company in a research report on Thursday, August 13th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of CytomX Therapeutics in a research report on Tuesday, October 13th.

CytomX Therapeutics Price Performance

Shares of CytomX Therapeutics stock opened at $2.32 on Thursday. The stock’s 50-day moving average is $2.94 and its 200 day moving average is $3.42. CytomX Therapeutics has a one year low of $2.20 and a one year high of $8.21. The firm has a market cap of $505.53 million, a price-to-earnings ratio of -4.64 and a beta of 2.21.

CytomX Therapeutics (NASDAQ:CTMX) last announced its quarterly earnings data on Thursday, August 6th. The biotechnology company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.01). CytomX Therapeutics had a negative net margin of 435.21% and a negative return on equity of 38.46%. The company had revenue of $1.42 million for the quarter, compared to analyst estimates of $12.39 million. On average, sell-side analysts expect that CytomX Therapeutics will post -0.40 EPS for the current fiscal year.

Institutional Investors Weigh In On CytomX Therapeutics

Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in CytomX Therapeutics in the 2nd quarter worth $65,849,000. Bank of America Corp DE bought a new position in shares of CytomX Therapeutics during the second quarter valued at about $56,560,000. Elmind Capital LP bought a new position in shares of CytomX Therapeutics during the second quarter valued at about $17,062,500. Siren L.L.C. purchased a new stake in shares of CytomX Therapeutics during the first quarter worth about $16,251,000. Finally, ADAR1 Capital Management LLC purchased a new stake in shares of CytomX Therapeutics during the second quarter worth about $12,619,000. 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 developing cancer medicines designed to be activated selectively within the tumor microenvironment. The company’s approach is intended to improve the precision of treatment by limiting activity in healthy tissues while enabling therapeutic effects at tumor sites.

CytomX’s research is based on its Probody therapeutic platform, which uses molecular masking and tumor-associated protease activity to conditionally activate antibody-based medicines.