CytomX Therapeutics (NASDAQ:CTMX) Given New $12.00 Price Target at Piper Sandler

Key Points

• Piper Sandler raised its price target on CytomX to $12.00 and kept an "overweight" rating, while multiple other firms have boosted targets (Jefferies $16, HC Wainwright $17, Guggenheim $15) leaving the consensus as a Moderate Buy with an average target of $13.44.
• The stock trades around $4.39 (market cap ~$747M) but reported weak results last quarter with an EPS miss of ($0.22) vs. ($0.08) expected and revenue of $0.66M versus $7.33M consensus, reflecting negative margins and ROE.
• Insiders have been net sellers—191,063 shares sold in the past 90 days (insiders now own 6.6%)—while institutional investors hold about 67.8% of the company, signaling high professional interest despite insider reductions.

CytomX Therapeutics (NASDAQ:CTMX - Get Free Report) had its price objective hoisted by stock analysts at Piper Sandler from $10.00 to $12.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an "overweight" rating on the biotechnology company's stock. Piper Sandler's target price points to a potential upside of 173.29% from the stock's previous close.

Other research analysts have also issued research reports about the company. Weiss Ratings lowered CytomX Therapeutics from a "hold (c-)" rating to a "sell (d)" rating in a report on Thursday. Jefferies Financial Group raised their target price on shares of CytomX Therapeutics from $8.00 to $16.00 and gave the company a "buy" rating in a research note on Wednesday. HC Wainwright boosted their price target on shares of CytomX Therapeutics from $10.00 to $17.00 and gave the stock a "buy" rating in a research note on Monday, March 16th. Guggenheim increased their price target on shares of CytomX Therapeutics from $10.00 to $15.00 and gave the stock a "buy" rating in a report on Wednesday, March 18th. Finally, JPMorgan Chase & Co. upgraded shares of CytomX Therapeutics from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $7.00 to $12.00 in a research report on Monday, March 16th. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, CytomX Therapeutics currently has an average rating of "Moderate Buy" and an average target price of $13.44.

CytomX Therapeutics Stock Performance

CytomX Therapeutics stock traded down $0.06 during mid-day trading on Monday, reaching $4.39. The company's stock had a trading volume of 2,155,449 shares, compared to its average volume of 6,577,262. CytomX Therapeutics has a 12-month low of $0.40 and a 12-month high of $8.21. The firm's fifty day moving average price is $5.28 and its two-hundred day moving average price is $4.15. The company has a market capitalization of $747.30 million, a P/E ratio of -110.88 and a beta of 2.44.

CytomX Therapeutics (NASDAQ:CTMX - Get Free Report) last released its quarterly earnings data 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 net margin of 22.79% and a negative return on equity of 19.77%. The company had revenue of $0.66 million for the quarter, compared to the consensus estimate of $7.33 million. On average, research analysts predict that CytomX Therapeutics will post -0.05 EPS for the current fiscal year.

Insider Activity

In related news, SVP Marcia Belvin sold 31,492 shares of the company's stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $6.42, for a total transaction of $202,178.64. Following the completion of the transaction, the senior vice president owned 300,760 shares in the company, valued at $1,930,879.20. This represents a 9.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Yu-Waye Chu sold 21,279 shares of the firm's stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $6.42, for a total value of $136,611.18. Following the completion of the sale, the insider directly owned 189,446 shares of the company's stock, valued at $1,216,243.32. The trade was a 10.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 191,063 shares of company stock worth $1,226,624. 6.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CytomX Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of CTMX. Squarepoint Ops LLC increased its position in CytomX Therapeutics by 4.5% during the 4th quarter. Squarepoint Ops LLC now owns 49,897 shares of the biotechnology company's stock valued at $213,000 after buying an additional 2,169 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of CytomX Therapeutics by 83.2% in the fourth quarter. Wells Fargo & Company MN now owns 6,605 shares of the biotechnology company's stock worth $28,000 after acquiring an additional 3,000 shares during the last quarter. Velan Capital Investment Management LP increased its holdings in shares of CytomX Therapeutics by 6.7% during the third 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. Farther Finance Advisors LLC bought a new position in shares of CytomX Therapeutics during the third quarter valued at $25,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of CytomX Therapeutics in the 4th quarter worth about $35,000. Hedge funds and other institutional investors own 67.77% of the company's stock.

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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