CytomX Therapeutics (NASDAQ:CTMX) Upgraded at Jefferies Financial Group

CytomX Therapeutics (NASDAQ:CTMX - Get Free Report) was upgraded by investment analysts at Jefferies Financial Group from a "hold" rating to a "buy" rating in a report released on Monday, Marketbeat reports. The firm currently has a $8.00 target price on the biotechnology company's stock, up from their previous target price of $2.50. Jefferies Financial Group's target price would indicate a potential upside of 83.07% from the stock's previous close.

Other analysts have also recently issued reports about the stock. StockNews.com cut shares of CytomX Therapeutics from a "buy" rating to a "hold" rating in a report on Tuesday, April 23rd. BMO Capital Markets reissued a "market perform" rating and set a $3.25 target price on shares of CytomX Therapeutics in a research note on Wednesday, May 1st. Finally, JPMorgan Chase & Co. raised shares of CytomX Therapeutics from an "underweight" rating to a "neutral" rating in a research note on Monday, April 22nd. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $4.75.

CytomX Therapeutics Stock Down 1.4 %

Shares of CTMX stock traded down $0.06 during trading hours on Monday, reaching $4.37. 5,059,237 shares of the stock traded hands, compared to its average volume of 3,516,292. The business has a fifty day moving average price of $2.31 and a 200 day moving average price of $1.74. CytomX Therapeutics has a 1-year low of $1.04 and a 1-year high of $5.85. The firm has a market capitalization of $297.77 million, a PE ratio of -218.39 and a beta of 1.09.

CytomX Therapeutics (NASDAQ:CTMX - Get Free Report) last posted its quarterly earnings results on Monday, March 11th. The biotechnology company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.01). The company had revenue of $26.61 million during the quarter, compared to analysts' expectations of $23.36 million. Research analysts expect that CytomX Therapeutics will post -0.25 earnings per share for the current fiscal year.

Insider Buying and Selling at CytomX Therapeutics

In other news, CEO Sean A. Mccarthy sold 20,223 shares of the stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $2.09, for a total transaction of $42,266.07. Following the transaction, the chief executive officer now owns 524,481 shares of the company's stock, valued at approximately $1,096,165.29. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 35,024 shares of company stock worth $73,200 over the last three months. Corporate insiders own 7.00% of the company's stock.

Hedge Funds Weigh In On CytomX Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CTMX. Bank of New York Mellon Corp raised its holdings in CytomX Therapeutics by 737.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 266,836 shares of the biotechnology company's stock worth $344,000 after acquiring an additional 234,970 shares during the period. AlphaMark Advisors LLC lifted its holdings in shares of CytomX Therapeutics by 119.8% during the fourth quarter. AlphaMark Advisors LLC now owns 23,183 shares of the biotechnology company's stock worth $36,000 after buying an additional 12,635 shares during the last quarter. Finally, Congress Park Capital LLC boosted its position in shares of CytomX Therapeutics by 112.8% in the fourth quarter. Congress Park Capital LLC now owns 239,300 shares of the biotechnology company's stock valued at $371,000 after acquiring an additional 126,850 shares during the period. Institutional investors and hedge funds own 67.77% of the company's stock.

CytomX Therapeutics Company 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.