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CytomX Therapeutics (NASDAQ:CTMX) Raised to "Hold (C-)" at Weiss Ratings

CytomX Therapeutics logo with Medical background

Key Points

  • CytomX Therapeutics was upgraded from a "sell (d+)" rating to a "hold (c-)" by Weiss Ratings, reflecting a more stable outlook for the stock.
  • Barclays and Oppenheimer have recently initiated coverage with an "overweight" and "outperform" rating, respectively, with price targets of $3.50 and $7.00.
  • Institutional investors now own 67.77% of CytomX Therapeutics, indicating strong interest and confidence in the company’s potential.
  • MarketBeat previews the top five stocks to own by November 1st.

CytomX Therapeutics (NASDAQ:CTMX - Get Free Report) was upgraded by stock analysts at Weiss Ratings from a "sell (d+)" rating to a "hold (c-)" rating in a research note issued to investors on Wednesday,Weiss Ratings reports.

CTMX has been the topic of several other research reports. Barclays initiated coverage on CytomX Therapeutics in a research note on Wednesday, September 17th. They issued an "overweight" rating and a $3.50 price target on the stock. Oppenheimer initiated coverage on CytomX Therapeutics in a research note on Thursday, July 31st. They issued an "outperform" rating and a $7.00 price target on the stock. Finally, Cantor Fitzgerald initiated coverage on CytomX Therapeutics in a research note on Monday, September 22nd. They issued an "overweight" rating and a $6.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, CytomX Therapeutics currently has a consensus rating of "Buy" and a consensus price target of $5.42.

View Our Latest Stock Report on CTMX

CytomX Therapeutics Price Performance

CytomX Therapeutics stock traded up $0.04 during mid-day trading on Wednesday, reaching $3.37. 2,445,219 shares of the company were exchanged, compared to its average volume of 4,417,565. The company has a fifty day simple moving average of $2.31 and a 200-day simple moving average of $1.92. CytomX Therapeutics has a 12 month low of $0.40 and a 12 month high of $3.48. The firm has a market cap of $555.75 million, a PE ratio of 6.02 and a beta of 2.27.

Institutional Investors Weigh In On CytomX Therapeutics

A number of institutional investors have recently made changes to their positions in the stock. Miller Financial Services LLC grew 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 acquiring an additional 26,000 shares in the last quarter. Invesco Ltd. purchased a new stake in shares of CytomX Therapeutics in the second quarter worth $32,000. Pursue Wealth Partners LLC purchased a new stake in CytomX Therapeutics during the second quarter valued at about $33,000. Goldman Sachs Group Inc. purchased a new stake in CytomX Therapeutics during the first quarter valued at about $39,000. Finally, Velan Capital Investment Management LP grew its stake in shares of CytomX Therapeutics by 114.3% during the first quarter. Velan Capital Investment Management LP now owns 75,000 shares of the biotechnology company's stock valued at $48,000 after buying an additional 40,000 shares during the last quarter. Institutional investors own 67.77% of the company's stock.

CytomX Therapeutics Company Profile

(Get Free Report)

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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Analyst Recommendations for CytomX Therapeutics (NASDAQ:CTMX)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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