HC Wainwright Reaffirms “Neutral” Rating for CytomX Therapeutics (NASDAQ:CTMX)

HC Wainwright reaffirmed their neutral rating on shares of CytomX Therapeutics (NASDAQ:CTMX) in a research note issued to investors on Thursday morning, Benzinga reports.

CTMX has been the subject of several other research reports. JPMorgan Chase & Co. upgraded shares of CytomX Therapeutics from an underweight rating to a neutral rating in a report on Monday, April 22nd. StockNews.com downgraded shares of CytomX Therapeutics from a buy rating to a hold rating in a research note on Tuesday, April 23rd. Wedbush raised CytomX Therapeutics from a neutral rating to an outperform rating and increased their target price for the company from $3.00 to $8.00 in a research report on Thursday. BMO Capital Markets reissued a market perform rating and issued a $3.25 price target on shares of CytomX Therapeutics in a research report on Wednesday, May 1st. Finally, Jefferies Financial Group upgraded CytomX Therapeutics from a hold rating to a buy rating and upped their price objective for the stock from $2.50 to $8.00 in a research note on Monday, May 6th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, CytomX Therapeutics presently has an average rating of Moderate Buy and a consensus target price of $6.53.

CytomX Therapeutics Stock Performance

CytomX Therapeutics stock opened at $1.98 on Thursday. CytomX Therapeutics has a fifty-two week low of $1.04 and a fifty-two week high of $5.85. The company has a market capitalization of $154.28 million, a PE ratio of 9.90 and a beta of 1.09. The company has a 50 day moving average price of $2.36 and a 200-day moving average price of $1.78.

CytomX Therapeutics (NASDAQ:CTMX) last issued its earnings results on Monday, March 11th. The biotechnology company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). The firm had revenue of $26.61 million for the quarter, compared to the consensus estimate of $23.36 million. CytomX Therapeutics had a net margin of 13.87% and a negative return on equity of 27.00%. On average, analysts forecast that CytomX Therapeutics will post -0.24 earnings per share for the current year.

Insider Transactions at CytomX Therapeutics

In other CytomX Therapeutics 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 value of $42,266.07. Following the completion of the sale, the chief executive officer now directly owns 524,481 shares in the company, valued at $1,096,165.29. The transaction was disclosed in a document filed with the SEC, which is available at this link. Over the last three months, insiders have sold 35,024 shares of company stock valued at $73,200. Corporate insiders own 7.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp raised its stake in shares of 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 purchasing an additional 234,970 shares during the last quarter. Congress Park Capital LLC increased its holdings in CytomX Therapeutics by 112.8% in the 4th 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 purchased a new position in CytomX Therapeutics during the 1st quarter worth approximately $124,000. Acadian Asset Management LLC lifted its stake in CytomX Therapeutics by 1.7% during the 1st quarter. Acadian Asset Management LLC now owns 2,690,830 shares of the biotechnology company’s stock valued at $5,863,000 after acquiring an additional 44,640 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in shares of CytomX Therapeutics in the 1st quarter valued at $57,000. Institutional investors and hedge funds own 67.77% of the company’s stock.

About CytomX Therapeutics

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.