Analysts Set CytomX Therapeutics, Inc. (NASDAQ:CTMX) Price Target at $5.30

Key Points

• CytomX Therapeutics, Inc. (NASDAQ: CTMX) has received a consensus rating of "Buy" from five covering brokerages, with an average 1-year price target of $5.30.
• The company's stock has seen significant institutional interest, with 67.77% of shares owned by hedge funds and institutional investors.
• CytomX Therapeutics focuses on developing novel biologics for oncology, utilizing its conditional activation platform for targeted cancer treatments.

Shares of CytomX Therapeutics, Inc. (NASDAQ:CTMX - Get Free Report) have received an average recommendation of "Buy" from the five analysts that are currently covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is $5.30.

Several research firms have recently issued reports on CTMX. 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 objective for the company. Barclays assumed coverage on shares of CytomX Therapeutics in a research note on Wednesday. They issued an "overweight" rating and a $3.50 target price for the company.

CytomX Therapeutics Trading Down 2.9%

NASDAQ:CTMX traded down $0.06 on Wednesday, hitting $1.98. 3,646,315 shares of the stock were exchanged, compared to its average volume of 2,386,542. The stock has a market cap of $326.52 million, a PE ratio of 3.54 and a beta of 2.18. The stock has a fifty day moving average of $2.16 and a 200-day moving average of $1.72. CytomX Therapeutics has a fifty-two week low of $0.40 and a fifty-two week high of $3.10.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. boosted its stake in CytomX Therapeutics by 1.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 720,020 shares of the biotechnology company's stock valued at $1,634,000 after acquiring an additional 8,566 shares during the last quarter. Aspire Growth Partners LLC increased its holdings in shares of CytomX Therapeutics by 10.8% in the 2nd quarter. Aspire Growth Partners LLC now owns 102,254 shares of the biotechnology company's stock worth $232,000 after acquiring an additional 10,000 shares during the period. Vanguard Personalized Indexing Management LLC increased its holdings in shares of CytomX Therapeutics by 63.6% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 28,966 shares of the biotechnology company's stock worth $66,000 after acquiring an additional 11,258 shares during the period. Invesco Ltd. acquired a new position in CytomX Therapeutics during the 2nd quarter valued at about $32,000. Finally, Pursue Wealth Partners LLC acquired a new position in CytomX Therapeutics during the 2nd quarter valued at about $33,000. 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.