CytomX Therapeutics (NASDAQ:CTMX) Stock Price Up 6.3% - Time to Buy?

Key Points

• Shares rose 6.3% intraday to $4.85, but trading volume was only ~427,453 shares — roughly a 93% decline from the average daily volume of 6.26M.
• Several firms recently raised targets (Wedbush, Guggenheim, Barclays, Piper), leaving a consensus rating of "Moderate Buy" with a consensus price target of $13.44 (nine Buys, one Sell).
• CytomX reported a quarterly EPS loss of ($0.22) versus ($0.08) expected and revenue of $0.66M versus $7.33M estimated, while insiders sold 191,063 shares (~$1.23M) last quarter and the market cap is about $845M.

CytomX Therapeutics, Inc. (NASDAQ:CTMX - Get Free Report)'s share price rose 6.3% during mid-day trading on Thursday . The stock traded as high as $4.85 and last traded at $4.8490. Approximately 427,453 shares traded hands during mid-day trading, a decline of 93% from the average daily volume of 6,260,347 shares. The stock had previously closed at $4.56.

Analyst Upgrades and Downgrades

CTMX has been the topic of several analyst reports. Weiss Ratings lowered shares of CytomX Therapeutics from a "hold (c-)" rating to a "sell (d)" rating in a report on Thursday, March 19th. Wedbush boosted their price target on shares of CytomX Therapeutics from $6.00 to $11.00 and gave the company an "outperform" rating in a report on Tuesday, March 17th. Guggenheim boosted their price target on shares of CytomX Therapeutics from $10.00 to $15.00 and gave the company a "buy" rating in a report on Wednesday, March 18th. Barclays boosted their price target on shares of CytomX Therapeutics from $10.00 to $16.00 and gave the company an "overweight" rating in a report on Thursday, March 19th. Finally, Piper Sandler upped their target price on shares of CytomX Therapeutics from $10.00 to $12.00 and gave the stock an "overweight" rating in a report on Monday, March 23rd. Nine research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, CytomX Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus price target of $13.44.

CytomX Therapeutics Trading Up 8.9%

The company's fifty day moving average price is $4.95 and its two-hundred day moving average price is $4.42. The firm has a market cap of $844.99 million, a P/E ratio of -124.33 and a beta of 2.49.

CytomX Therapeutics (NASDAQ:CTMX - Get Free Report) last posted its earnings results on Monday, March 16th. The biotechnology company reported ($0.22) earnings per share for the quarter, missing the consensus estimate 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 the consensus estimate of $7.33 million. On average, analysts predict that CytomX Therapeutics, Inc. will post -0.05 EPS for the current fiscal year.

Insider Activity at CytomX Therapeutics

In other CytomX Therapeutics news, SVP Marcia Belvin sold 31,492 shares of the stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $6.42, for a total transaction of $202,178.64. Following the sale, the senior vice president owned 300,760 shares of the company's stock, valued at $1,930,879.20. This represents a 9.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sean A. Mccarthy sold 118,969 shares of the stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $6.42, for a total transaction of $763,780.98. Following the sale, the chief executive officer directly owned 1,078,922 shares in the company, valued at approximately $6,926,679.24. This represents a 9.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 191,063 shares of company stock worth $1,226,624 in the last quarter. Insiders own 6.60% of the company's stock.

Institutional Investors Weigh In On CytomX Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the stock. Hsbc Holdings PLC bought a new stake in CytomX Therapeutics during the 4th quarter worth about $52,000. Seven Fleet Capital Management LP bought a new stake in CytomX Therapeutics during the 4th quarter worth about $208,000. Empowered Funds LLC bought a new stake in CytomX Therapeutics during the 4th quarter worth about $133,000. XTX Topco Ltd grew its holdings in CytomX Therapeutics by 63.9% during the 4th quarter. XTX Topco Ltd now owns 47,991 shares of the biotechnology company's stock worth $204,000 after acquiring an additional 18,705 shares during the last quarter. Finally, Virtus Investment Advisers LLC bought a new stake in CytomX Therapeutics during the 4th quarter worth about $270,000. Institutional investors own 67.77% of the company's stock.

CytomX Therapeutics Company Profile

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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