RA Capital Management L.P. Purchases New Shares in CytomX Therapeutics, Inc. $CTMX

Key Points

• RA Capital Management L.P. acquired 1,000,000 shares of CytomX Therapeutics, Inc. valued at approximately $636,000, representing about 1.24% of the company's stock.
• Several institutional investors, including Velan Capital Investment Management and Aspire Growth Partners, significantly increased their positions in CytomX during the first quarter of the year.
• Analysts have provided positive ratings for CytomX, with a consensus target price of $5.75 and multiple upgrades reflecting growing confidence in the company's prospects.

RA Capital Management L.P. purchased a new stake in CytomX Therapeutics, Inc. (NASDAQ:CTMX - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,000,000 shares of the biotechnology company's stock, valued at approximately $636,000. RA Capital Management L.P. owned about 1.24% of CytomX Therapeutics at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of CTMX. Velan Capital Investment Management LP increased its position in shares of CytomX Therapeutics by 114.3% during the 1st quarter. Velan Capital Investment Management LP now owns 75,000 shares of the biotechnology company's stock valued at $48,000 after purchasing an additional 40,000 shares during the last quarter. Aspire Growth Partners LLC increased its position in shares of CytomX Therapeutics by 126.2% during the 1st quarter. Aspire Growth Partners LLC now owns 92,254 shares of the biotechnology company's stock valued at $59,000 after purchasing an additional 51,474 shares during the last quarter. Forefront Analytics LLC increased its position in shares of CytomX Therapeutics by 55.7% during the 1st quarter. Forefront Analytics LLC now owns 100,070 shares of the biotechnology company's stock valued at $63,000 after purchasing an additional 35,811 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of CytomX Therapeutics during the 1st quarter valued at $62,000. Finally, Miller Financial Services LLC increased its position in shares of CytomX Therapeutics by 104.0% during the 1st quarter. Miller Financial Services LLC now owns 51,000 shares of the biotechnology company's stock valued at $32,000 after purchasing an additional 26,000 shares during the last quarter. 67.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CTMX shares. Wedbush reaffirmed an "outperform" rating and set a $6.00 target price (up from $5.00) on shares of CytomX Therapeutics in a research report on Monday, May 12th. Oppenheimer started coverage on CytomX Therapeutics in a report on Thursday, July 31st. They issued an "outperform" rating and a $7.00 price objective for the company. Wall Street Zen raised CytomX Therapeutics from a "hold" rating to a "buy" rating in a report on Tuesday, May 13th. Piper Sandler lifted their price target on CytomX Therapeutics from $2.50 to $5.00 and gave the company an "overweight" rating in a research report on Thursday, May 15th. Finally, HC Wainwright upgraded CytomX Therapeutics from a "neutral" rating to a "buy" rating and set a $5.00 price target for the company in a research report on Thursday, May 15th. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $5.75.

CytomX Therapeutics Stock Down 0.5%

Shares of CTMX stock opened at $2.04 on Tuesday. The stock has a market cap of $336.42 million, a price-to-earnings ratio of 3.64 and a beta of 2.18. The business's fifty day moving average is $2.24 and its 200 day moving average is $1.59. CytomX Therapeutics, Inc. has a twelve month low of $0.40 and a twelve month high of $3.10.

CytomX Therapeutics Profile

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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