CytomX Therapeutics (NASDAQ:CTMX) Coverage Initiated by Analysts at BMO Capital Markets

Research analysts at BMO Capital Markets initiated coverage on shares of CytomX Therapeutics (NASDAQ:CTMXGet Rating) in a report released on Thursday, The Fly reports. The firm set an “outperform” rating on the biotechnology company’s stock.

CTMX has been the topic of several other reports. StockNews.com lowered shares of CytomX Therapeutics from a “hold” rating to a “sell” rating in a research note on Friday, May 27th. HC Wainwright reiterated a “buy” rating and issued a $11.00 price target on shares of CytomX Therapeutics in a research note on Friday, March 4th. Piper Sandler lowered their price target on shares of CytomX Therapeutics from $16.00 to $10.00 in a research note on Friday, May 27th. JPMorgan Chase & Co. lowered their price target on shares of CytomX Therapeutics from $10.00 to $9.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 2nd. Finally, Wedbush lowered their price target on shares of CytomX Therapeutics from $10.00 to $6.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 10th. One research analyst has rated the stock with a sell rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.71.

Shares of NASDAQ:CTMX traded up $0.07 during midday trading on Thursday, reaching $1.87. 44,566 shares of the company were exchanged, compared to its average volume of 716,693. CytomX Therapeutics has a fifty-two week low of $1.51 and a fifty-two week high of $7.53. The stock has a fifty day simple moving average of $1.78 and a two-hundred day simple moving average of $3.26. The firm has a market cap of $122.30 million, a PE ratio of -1.32 and a beta of 0.76.

CytomX Therapeutics (NASDAQ:CTMXGet Rating) last issued its quarterly earnings data on Thursday, May 5th. The biotechnology company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.02). CytomX Therapeutics had a negative return on equity of 91.89% and a negative net margin of 129.97%. The company had revenue of $17.14 million for the quarter, compared to analyst estimates of $21.81 million. During the same quarter in the previous year, the business earned ($0.26) earnings per share. As a group, analysts expect that CytomX Therapeutics will post -1.44 earnings per share for the current year.

Several hedge funds have recently made changes to their positions in CTMX. Mackenzie Financial Corp bought a new stake in shares of CytomX Therapeutics during the 1st quarter worth about $35,000. Delphia USA Inc. bought a new stake in shares of CytomX Therapeutics during the 1st quarter worth about $39,000. Lazard Asset Management LLC bought a new stake in shares of CytomX Therapeutics during the 1st quarter worth about $40,000. Raymond James Financial Services Advisors Inc. bought a new stake in shares of CytomX Therapeutics during the 4th quarter worth about $44,000. Finally, Clear Harbor Asset Management LLC bought a new stake in shares of CytomX Therapeutics during the 4th quarter worth about $50,000. 92.34% of the stock is owned by institutional investors and hedge funds.

CytomX Therapeutics Company Profile (Get Rating)

CytomX Therapeutics, Inc operates as an oncology-focused biopharmaceutical company in the United States. The company develops antibody therapeutics based on its Probody technology platform for the treatment of cancer. The company's product candidates include CX-2009, an antibody drug conjugates (ADC) against CD166, which is in Phase II clinical trials for the treatment of breast cancer; CX-2029 that is in Phase II clinical trials for the treatment of squamous non-small cell lung cancer, head and neck squamous cell carcinoma, esophageal and gastro-esophageal junction cancers, and diffuse large B-cell lymphoma; BMS-986249, a CTLA-4 Probody therapeutic drug, which is in Phase I/II clinical trials for the treatment of metastatic melanoma; and BMS-986288, an anti-CTLA-4 Probody drug, which is in Phase I clinical trials for the treatment of solid tumors.

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