CytomX Therapeutics (NASDAQ:CTMX) Stock Rating Upgraded by Barclays

Key Points

• Barclays upgraded CytomX Therapeutics (NASDAQ:CTMX) to a "strong-buy" rating, signifying increased analyst confidence in the company.
• CytomX Therapeutics has a current average rating of "Buy" with a consensus price target of $5.30, yet its shares recently declined by 1.5%.
• Large investors are actively increasing their stakes in CytomX, with institutional ownership now at 67.77% of the company's stock.

CytomX Therapeutics (NASDAQ:CTMX - Get Free Report) was upgraded by research analysts at Barclays to a "strong-buy" rating in a research report issued on Tuesday,Zacks.com reports.

Separately, Oppenheimer assumed coverage on CytomX Therapeutics in a report on Thursday, July 31st. They set an "outperform" rating and a $7.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $5.42.

CytomX Therapeutics Price Performance

CTMX traded up $0.08 during trading hours on Tuesday, hitting $2.06. 3,012,106 shares of the stock were exchanged, compared to its average volume of 2,264,110. The stock has a market cap of $339.71 million, a price-to-earnings ratio of 3.68 and a beta of 2.18. CytomX Therapeutics has a 12 month low of $0.40 and a 12 month high of $3.10. The stock has a 50-day simple moving average of $2.15 and a 200-day simple moving average of $1.73.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CTMX. Orbimed Advisors LLC bought a new position in CytomX Therapeutics in the 2nd quarter worth approximately $19,208,000. Commodore Capital LP bought a new position in CytomX Therapeutics in the 2nd quarter worth approximately $17,462,000. Perceptive Advisors LLC bought a new stake in shares of CytomX Therapeutics during the second quarter valued at approximately $15,876,000. Franklin Resources Inc. bought a new stake in shares of CytomX Therapeutics during the second quarter valued at approximately $13,096,000. Finally, Vivo Capital LLC bought a new stake in shares of CytomX Therapeutics during the second quarter valued at approximately $13,096,000. 67.77% of the stock is owned by institutional investors.

CytomX Therapeutics Company Profile

CytomX Therapeutics, Inc, an oncology-focused biopharmaceutical company, focuses on developing novel conditionally activated biologics localized to the tumor microenvironment. The company utilizes conditional activation platform technology for oncology biologics research and development comprising the validation of targets for antibody-drug conjugates (ADCs), opening therapeutic window for novel T-cell engagers (TCEs) targeting solid tumors, and increasing the therapeutic index for immune modulators, such as cytokines; and PROBODY platform in preclinical research in areas outside of oncology.