CytomX Therapeutics (NASDAQ:CTMX) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded CytomX Therapeutics from “sell” to “hold,” while the broader analyst consensus remains “Buy” with an average price target of $11.90.
• CytomX shares opened at $3.36, near their 50-day moving average, with a market capitalization of approximately $732 million and a 12-month trading range of $1.77 to $8.21.
• The company reported a quarterly loss of $0.09 per share, slightly worse than estimates, while revenue of $1.42 million fell well short of the $12.39 million consensus forecast; institutional investors own 67.77% of its stock.

CytomX Therapeutics (NASDAQ:CTMX - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

Other equities analysts have also recently issued reports about the stock. Wolfe Research initiated coverage on shares of CytomX Therapeutics in a research report on Tuesday, May 19th. They issued an "outperform" rating and a $6.00 price target for the company. Guggenheim cut their price target on shares of CytomX Therapeutics from $15.00 to $14.00 and set a "buy" rating on the stock in a report on Monday. Zacks Research raised shares of CytomX Therapeutics from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 21st. Weiss Ratings restated a "sell (d)" rating on shares of CytomX Therapeutics in a report on Tuesday, June 16th. Finally, HC Wainwright lowered their target price on CytomX Therapeutics from $17.00 to $11.00 and set a "buy" rating for the company in a research report on Monday, May 11th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $11.90.

CytomX Therapeutics Trading Up 0.3%

CytomX Therapeutics stock opened at $3.36 on Friday. The stock has a 50-day moving average price of $3.37 and a two-hundred day moving average price of $4.20. CytomX Therapeutics has a 12 month low of $1.77 and a 12 month high of $8.21. The company has a market capitalization of $732.14 million, a PE ratio of -6.72 and a beta of 2.12.

CytomX Therapeutics (NASDAQ:CTMX - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The biotechnology company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.01). CytomX Therapeutics had a negative net margin of 435.21% and a negative return on equity of 38.46%. The business had revenue of $1.42 million during the quarter, compared to the consensus estimate of $12.39 million. As a group, analysts predict that CytomX Therapeutics will post -0.4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Wells Fargo & Company MN lifted its position in shares of CytomX Therapeutics by 83.2% in the 4th quarter. Wells Fargo & Company MN now owns 6,605 shares of the biotechnology company's stock worth $28,000 after purchasing an additional 3,000 shares during the period. Invesco Ltd. bought a new position in CytomX Therapeutics during the second quarter worth $32,000. Mirae Asset Global Investments Co. Ltd. bought a new position in CytomX Therapeutics during the fourth quarter worth $35,000. Goldman Sachs Group Inc. acquired a new position in CytomX Therapeutics in the first quarter valued at $39,000. Finally, May Hill Capital LLC acquired a new position in CytomX Therapeutics in the fourth quarter valued at $46,000. 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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