CytomX Therapeutics, Inc. (NASDAQ:CTMX) Stock Now Rated "Moderate Buy" by Wall Street Analysts

Key Points

• Analysts rate CytomX Therapeutics “Moderate Buy”: Nine analysts recommend buying the stock, one rates it a strong buy, while one each issue hold and sell ratings. The average 12-month price target is $11.90, well above the recent $2.70 price.
• CytomX reported a quarterly loss of $0.09 per share, missing estimates by $0.01, while revenue of $1.42 million fell far short of the $12.39 million consensus forecast. The stock has traded between $2.66 and $8.21 over the past year.
• Institutional investors and hedge funds own 67.77% of CytomX shares, with several firms increasing or initiating positions. The clinical-stage biotechnology company is developing tumor-targeted cancer therapies through its Probody platform.

Shares of CytomX Therapeutics, Inc. (NASDAQ:CTMX - Get Free Report) have been given an average recommendation of "Moderate Buy" by the twelve analysts that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $11.90.

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

CytomX Therapeutics Stock Down 1.8%

NASDAQ:CTMX opened at $2.70 on Friday. The firm has a market cap of $588.33 million, a PE ratio of -5.40 and a beta of 2.14. CytomX Therapeutics has a 12 month low of $2.66 and a 12 month high of $8.21. The company's 50-day moving average price is $3.28 and its two-hundred day moving average price is $3.73.

CytomX Therapeutics (NASDAQ:CTMX - Get Free Report) last posted 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 return on equity of 38.46% and a negative net margin of 435.21%.The firm had revenue of $1.42 million for the quarter, compared to analyst estimates of $12.39 million. On average, research analysts expect that CytomX Therapeutics will post -0.4 EPS for the current fiscal year.

Hedge Funds Weigh In On CytomX Therapeutics

Large investors have recently modified their holdings of the stock. Engineers Gate Manager LP raised its position 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 worth $312,000 after purchasing an additional 53,653 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in CytomX Therapeutics in the 2nd quarter valued at $47,000. Pale Fire Capital SE bought a new position in CytomX Therapeutics in the 2nd quarter valued at $86,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of CytomX Therapeutics by 16.0% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 219,779 shares of the biotechnology company's stock valued at $824,000 after buying an additional 30,379 shares during the period. Finally, Hsbc Holdings PLC acquired a new stake in shares of CytomX Therapeutics in the 2nd quarter valued at $103,000. 67.77% of the stock is currently owned by institutional investors and hedge funds.

CytomX Therapeutics Company Profile

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.

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