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

Key Points

• CytomX Therapeutics, Inc. has received an average recommendation of "Buy" from analysts, with seven ratings firms covering the stock, including one strong buy and one hold rating.
• The average one-year price objective for CytomX is $5.42, with recent price targets set as high as $7.00 from various analysts.
• Institutional investors hold 67.77% of the stock, with recent significant purchases indicating growing interest, including a 104.0% increase in holdings from Miller Financial Services LLC.

CytomX Therapeutics, Inc. (NASDAQ:CTMX - Get Free Report) has earned an average recommendation of "Buy" from the seven ratings firms that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $5.4167.

A number of equities research analysts have weighed in on CTMX shares. Weiss Ratings upgraded CytomX Therapeutics from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday. Barclays initiated coverage on CytomX Therapeutics in a report on Wednesday, September 17th. They issued an "overweight" rating and a $3.50 price objective for the company. Cantor Fitzgerald started coverage on CytomX Therapeutics in a research note on Monday, September 22nd. They set an "overweight" rating and a $6.00 target price for the company. Finally, Oppenheimer assumed coverage on shares of CytomX Therapeutics in a research report on Thursday, July 31st. They issued an "outperform" rating and a $7.00 price target on the stock.

CytomX Therapeutics Trading Down 2.6%

Shares of NASDAQ:CTMX opened at $3.36 on Friday. The company has a 50 day moving average of $2.36 and a 200-day moving average of $1.97. The firm has a market cap of $554.10 million, a P/E ratio of 6.00 and a beta of 2.27. CytomX Therapeutics has a twelve month low of $0.40 and a twelve month high of $3.49.

Institutional Trading of CytomX Therapeutics

A number of large investors have recently added to or reduced their stakes in CTMX. Miller Financial Services LLC increased its holdings in shares of CytomX Therapeutics by 104.0% in the first quarter. Miller Financial Services LLC now owns 51,000 shares of the biotechnology company's stock valued at $32,000 after buying an additional 26,000 shares in the last quarter. Invesco Ltd. acquired a new stake in shares of CytomX Therapeutics during the second quarter worth $32,000. Pursue Wealth Partners LLC acquired a new stake in shares of CytomX Therapeutics during the second quarter worth $33,000. Goldman Sachs Group Inc. purchased a new stake in shares of CytomX Therapeutics during the first quarter valued at $39,000. Finally, Velan Capital Investment Management LP boosted its position in shares of CytomX Therapeutics by 114.3% in the 1st quarter. Velan Capital Investment Management LP now owns 75,000 shares of the biotechnology company's stock valued at $48,000 after purchasing an additional 40,000 shares during the period. 67.77% of the stock is currently owned by institutional investors.

About CytomX Therapeutics

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.

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