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

Key Points

• Analysts maintain a “Moderate Buy” consensus on CytomX Therapeutics, with nine buy ratings, one strong buy, one hold and one sell. The average 12-month price target is $11.90.
• Institutional investors and hedge funds own approximately 67.77% of CTMX, with several firms recently increasing their positions.
• CTMX shares recently traded at $3.67 after a 9.2% rise, while the company’s latest quarterly results missed expectations: adjusted EPS was a $0.09 loss versus a projected $0.08 loss, and revenue was $1.42 million compared with a $12.39 million estimate.

Shares of CytomX Therapeutics, Inc. (NASDAQ:CTMX - Get Free Report) have been given an average recommendation of "Moderate Buy" by the twelve research firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, nine have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $11.90.

CTMX has been the subject of several recent research reports. Wall Street Zen lowered shares of CytomX Therapeutics from a "hold" rating to a "sell" rating in a research report on Sunday, August 23rd. Guggenheim cut their price objective 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 lowered shares of CytomX Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 19th. HC Wainwright decreased their target price on shares of CytomX Therapeutics from $17.00 to $11.00 and set a "buy" rating for the company in a research report on Monday, May 11th. Finally, Wolfe Research started coverage on shares of CytomX Therapeutics in a research report on Tuesday, May 19th. They issued an "outperform" rating and a $6.00 target price for the company.

Hedge Funds Weigh In On CytomX Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in CTMX. Squarepoint Ops LLC grew its holdings in CytomX Therapeutics by 4.5% in the 4th quarter. Squarepoint Ops LLC now owns 49,897 shares of the biotechnology company's stock worth $213,000 after buying an additional 2,169 shares in the last quarter. Wells Fargo & Company MN raised its stake in CytomX Therapeutics by 83.2% during the 4th quarter. Wells Fargo & Company MN now owns 6,605 shares of the biotechnology company's stock valued at $28,000 after acquiring an additional 3,000 shares in the last quarter. Velan Capital Investment Management LP raised its stake in CytomX Therapeutics by 6.7% during the 3rd quarter. Velan Capital Investment Management LP now owns 80,000 shares of the biotechnology company's stock valued at $255,000 after acquiring an additional 5,000 shares in the last quarter. Raymond James Financial Inc. raised its stake in CytomX Therapeutics by 3.5% during the 3rd quarter. Raymond James Financial Inc. now owns 293,560 shares of the biotechnology company's stock valued at $936,000 after acquiring an additional 10,000 shares in the last quarter. Finally, Truvestments Capital LLC boosted its position in CytomX Therapeutics by 60.4% during the 4th quarter. Truvestments Capital LLC now owns 27,428 shares of the biotechnology company's stock worth $117,000 after acquiring an additional 10,327 shares during the period. 67.77% of the stock is currently owned by institutional investors and hedge funds.

CytomX Therapeutics Trading Up 9.2%

Shares of CytomX Therapeutics stock opened at $3.67 on Wednesday. The stock has a market capitalization of $799.69 million, a price-to-earnings ratio of -7.34 and a beta of 2.12. CytomX Therapeutics has a twelve month low of $1.90 and a twelve month high of $8.21. The business's 50 day simple moving average is $3.47 and its 200-day simple moving average is $3.99.

CytomX Therapeutics (NASDAQ:CTMX - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $1.42 million for the quarter, compared to the consensus estimate of $12.39 million. CytomX Therapeutics had a negative return on equity of 38.46% and a negative net margin of 435.21%. Sell-side analysts predict that CytomX Therapeutics will post -0.4 earnings per share for the current 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.

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