CytomX Therapeutics, Inc. (NASDAQ:CTMX) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• Analyst consensus: Moderate Buy — 10 analysts cover CTMX (nine buy, one sell) with an average 12‑month price target of $13.44, well above the current share price.
• Quarterly miss and weak revenue — CytomX reported EPS of ($0.22) versus ($0.08) expected and revenue of $0.66M versus $7.33M expected; shares opened at $4.05 with a market cap of about $689M.
• Mixed insider and institutional activity — insiders sold 191,063 shares in the past 90 days (~$1.23M), while institutions own ~67.8% of the stock with large new positions from Orbimed, Commodore, Perceptive and a major stake increase by State Street.

CytomX Therapeutics, Inc. (NASDAQ:CTMX - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the ten ratings firms that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation and nine have assigned a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $13.4444.

A number of research analysts recently issued reports on the stock. Wall Street Zen downgraded shares of CytomX Therapeutics from a "sell" rating to a "strong sell" rating in a research note on Saturday, April 25th. Guggenheim boosted their price objective on shares of CytomX Therapeutics from $10.00 to $15.00 and gave the stock a "buy" rating in a research report on Wednesday, March 18th. JPMorgan Chase & Co. upgraded shares of CytomX Therapeutics from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $7.00 to $12.00 in a research report on Monday, March 16th. Weiss Ratings downgraded shares of CytomX Therapeutics from a "hold (c-)" rating to a "sell (d)" rating in a research report on Thursday, March 19th. Finally, Cantor Fitzgerald boosted their price objective on shares of CytomX Therapeutics from $6.00 to $10.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 4th.

CytomX Therapeutics Stock Down 1.7%

Shares of CytomX Therapeutics stock opened at $4.05 on Thursday. CytomX Therapeutics has a 52-week low of $0.63 and a 52-week high of $8.21. The company has a 50 day moving average of $4.77 and a 200 day moving average of $4.50. The company has a market capitalization of $689.26 million, a P/E ratio of -101.25 and a beta of 2.49.

CytomX Therapeutics (NASDAQ:CTMX - Get Free Report) last issued its quarterly earnings results on Monday, March 16th. The biotechnology company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.14). CytomX Therapeutics had a negative return on equity of 19.77% and a negative net margin of 22.79%.The firm had revenue of $0.66 million during the quarter, compared to analysts' expectations of $7.33 million. As a group, research analysts anticipate that CytomX Therapeutics will post -0.56 earnings per share for the current fiscal year.

Insider Transactions at CytomX Therapeutics

In other news, insider Yu-Waye Chu sold 21,279 shares of CytomX Therapeutics stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $6.42, for a total transaction of $136,611.18. Following the sale, the insider owned 189,446 shares in the company, valued at approximately $1,216,243.32. The trade was a 10.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sean A. Mccarthy sold 118,969 shares of CytomX Therapeutics stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $6.42, for a total value of $763,780.98. Following the sale, the chief executive officer owned 1,078,922 shares in the company, valued at $6,926,679.24. This trade represents a 9.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 191,063 shares of company stock worth $1,226,624. 6.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On CytomX Therapeutics

Several institutional investors have recently bought and sold shares of CTMX. Orbimed Advisors LLC acquired a new position in CytomX Therapeutics in the 2nd quarter valued at $19,208,000. Commodore Capital LP acquired a new position in CytomX Therapeutics in the 2nd quarter valued at $17,462,000. Perceptive Advisors LLC acquired a new position in CytomX Therapeutics in the 2nd quarter valued at $15,876,000. State Street Corp increased its stake in CytomX Therapeutics by 697.1% in the 4th quarter. State Street Corp now owns 5,140,931 shares of the biotechnology company's stock valued at $21,900,000 after buying an additional 4,495,949 shares during the period. Finally, Balyasny Asset Management L.P. acquired a new position in CytomX Therapeutics in the 2nd quarter valued at $6,505,000. 67.77% of the stock is owned by institutional investors and hedge funds.

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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