StockNews.com Upgrades CytomX Therapeutics (NASDAQ:CTMX) to Buy

CytomX Therapeutics (NASDAQ:CTMX - Get Free Report) was upgraded by equities researchers at StockNews.com from a "hold" rating to a "buy" rating in a research report issued on Friday.

Other equities research analysts have also issued reports about the stock. BMO Capital Markets increased their target price on shares of CytomX Therapeutics from $3.25 to $3.59 and gave the stock a "market perform" rating in a report on Thursday. HC Wainwright reaffirmed a "neutral" rating on shares of CytomX Therapeutics in a report on Thursday. Wedbush raised shares of CytomX Therapeutics from a "neutral" rating to an "outperform" rating and boosted their target price for the stock from $3.00 to $8.00 in a report on Thursday. JPMorgan Chase & Co. raised shares of CytomX Therapeutics from an "underweight" rating to a "neutral" rating in a research note on Monday, April 22nd. Finally, Jefferies Financial Group upgraded shares of CytomX Therapeutics from a "hold" rating to a "buy" rating and lifted their price target for the company from $2.50 to $8.00 in a report on Monday. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, CytomX Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus price target of $6.53.

CytomX Therapeutics Stock Down 2.9 %

NASDAQ:CTMX traded down $0.06 on Friday, hitting $1.98. The stock had a trading volume of 12,134,514 shares, compared to its average volume of 12,382,166. The business's 50-day simple moving average is $2.36 and its two-hundred day simple moving average is $1.78. The stock has a market cap of $134.92 million, a price-to-earnings ratio of -98.95 and a beta of 1.09. CytomX Therapeutics has a 52-week low of $1.04 and a 52-week high of $5.85.

CytomX Therapeutics (NASDAQ:CTMX - Get Free Report) last posted its quarterly earnings data on Monday, March 11th. The biotechnology company reported $0.01 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.02 by ($0.01). The company had revenue of $26.61 million for the quarter, compared to the consensus estimate of $23.36 million. As a group, equities research analysts anticipate that CytomX Therapeutics will post -0.25 EPS for the current year.

Insider Activity

In related news, CEO Sean A. Mccarthy sold 20,223 shares of the business's stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $2.09, for a total value of $42,266.07. Following the sale, the chief executive officer now owns 524,481 shares in the company, valued at $1,096,165.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders sold 35,024 shares of company stock worth $73,200. 7.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On CytomX Therapeutics

Several large investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC boosted its holdings in shares of CytomX Therapeutics by 1.7% in the 1st quarter. Acadian Asset Management LLC now owns 2,690,830 shares of the biotechnology company's stock worth $5,863,000 after purchasing an additional 44,640 shares during the period. Bank of New York Mellon Corp lifted its position in CytomX Therapeutics by 737.4% in the third quarter. Bank of New York Mellon Corp now owns 266,836 shares of the biotechnology company's stock worth $344,000 after buying an additional 234,970 shares during the last quarter. Congress Park Capital LLC boosted its stake in CytomX Therapeutics by 112.8% during the fourth quarter. Congress Park Capital LLC now owns 239,300 shares of the biotechnology company's stock worth $371,000 after buying an additional 126,850 shares during the period. Susquehanna Fundamental Investments LLC bought a new position in CytomX Therapeutics during the first quarter valued at $124,000. Finally, SG Americas Securities LLC bought a new position in CytomX Therapeutics during the first quarter valued at $57,000. 67.77% of the stock is owned by institutional investors.

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.

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