CytomX Therapeutics (NASDAQ:CTMX) Shares Up 8.5% - Should You Buy?

Key Points

• CytomX Therapeutics shares surged 8.5% on Monday, reaching a price of $3.15, amid lower trading volume compared to the average session.
• Wall Street analysts have set a consensus target price of $5.42 for CytomX, with multiple firms rating the stock as "Buy" or higher.
• The company holds a market capitalization of $533.48 million and is engaged in developing innovative oncology treatments using its proprietary biologics platform technology.

CytomX Therapeutics, Inc. (NASDAQ:CTMX - Get Free Report) shares shot up 8.5% during trading on Monday . The stock traded as high as $3.15 and last traded at $3.15. 2,167,582 shares traded hands during trading, a decline of 35% from the average session volume of 3,332,083 shares. The stock had previously closed at $2.90.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CTMX. Barclays initiated coverage on CytomX Therapeutics in a research report on Wednesday, September 17th. They set an "overweight" rating and a $3.50 price target for the company. Oppenheimer initiated coverage on CytomX Therapeutics in a research note on Thursday, July 31st. They issued an "outperform" rating and a $7.00 price objective 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 objective on the stock. One investment analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the stock. According to MarketBeat, CytomX Therapeutics currently has an average rating of "Buy" and a consensus target price of $5.42.

CytomX Therapeutics Price Performance

The firm has a market capitalization of $533.48 million, a price-to-earnings ratio of 5.81 and a beta of 2.18. The firm has a 50 day moving average price of $2.16 and a 200-day moving average price of $1.79.

Institutional Trading of CytomX Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Invesco Ltd. acquired a new stake in CytomX Therapeutics in the second quarter valued at $32,000. Pursue Wealth Partners LLC acquired a new stake in CytomX Therapeutics in the second quarter valued at $33,000. Vanguard Personalized Indexing Management LLC raised its stake in CytomX Therapeutics by 63.6% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 28,966 shares of the biotechnology company's stock valued at $66,000 after buying an additional 11,258 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in CytomX Therapeutics by 188.6% in the second quarter. Tower Research Capital LLC TRC now owns 29,661 shares of the biotechnology company's stock valued at $67,000 after buying an additional 19,384 shares in the last quarter. Finally, Lazard Asset Management LLC raised its stake in CytomX Therapeutics by 5,208.3% in the second quarter. Lazard Asset Management LLC now owns 43,316 shares of the biotechnology company's stock valued at $98,000 after buying an additional 42,500 shares in the last quarter. 67.77% of the stock is currently owned by institutional investors and hedge funds.

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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