CytomX Therapeutics (NASDAQ:CTMX) Trading 5.4% Higher – Time to Buy?

CytomX Therapeutics, Inc. (NASDAQ:CTMX)’s stock price rose 5.4% on Wednesday . The stock traded as high as $4.44 and last traded at $4.4250. Approximately 631,028 shares traded hands during trading, a decline of 81% from the average daily volume of 3,327,983 shares. The stock had previously closed at $4.20.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CTMX shares. Wall Street Zen downgraded shares of CytomX Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Barclays upped their target price on CytomX Therapeutics from $3.50 to $6.00 and gave the company an “overweight” rating in a research note on Tuesday, October 21st. Wedbush reiterated an “outperform” rating and set a $6.00 price target on shares of CytomX Therapeutics in a research note on Friday, November 7th. Cantor Fitzgerald started coverage on shares of CytomX Therapeutics in a research report on Monday, September 22nd. They set an “overweight” rating and a $6.00 target price on the stock. Finally, HC Wainwright upped their target price on shares of CytomX Therapeutics from $5.00 to $10.00 and gave the company a “buy” rating in a research note on Tuesday, November 11th. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $6.67.

CytomX Therapeutics Stock Performance

The stock has a 50-day moving average of $3.85 and a 200 day moving average of $2.91. The firm has a market capitalization of $751.42 million, a P/E ratio of 11.11 and a beta of 2.37.

CytomX Therapeutics (NASDAQ:CTMX) last posted its quarterly earnings data on Thursday, November 6th. The biotechnology company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.05). CytomX Therapeutics had a return on equity of 44.49% and a net margin of 24.66%.The business had revenue of $5.96 million during the quarter, compared to analyst estimates of $11.50 million. On average, equities analysts predict that CytomX Therapeutics, Inc. will post -0.05 EPS for the current year.

Institutional Trading of CytomX Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of CTMX. Farther Finance Advisors LLC bought a new position in CytomX Therapeutics in the 3rd quarter worth approximately $25,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in shares of CytomX Therapeutics in the 3rd quarter valued at $34,000. Truist Financial Corp bought a new stake in shares of CytomX Therapeutics during the third quarter worth $40,000. Invesco Ltd. acquired a new position in shares of CytomX Therapeutics during the second quarter valued at $32,000. Finally, Pursue Wealth Partners LLC bought a new position in CytomX Therapeutics in the second quarter valued at about $33,000. Institutional investors and hedge funds own 67.77% of the company’s stock.

About CytomX Therapeutics

CytomX Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of next-generation therapeutics based on its proprietary Probody® platform. The company engineers masked antibody prodrugs that remain inactive in healthy tissue but are selectively activated in the tumor microenvironment. This approach is designed to enhance the safety and tolerability of antibody-based therapies, particularly those targeting immuno-oncology pathways.

At the core of CytomX’s pipeline is Pacmilimab (CX-072), an anti–PD-L1 Probody therapeutic currently undergoing clinical evaluation for multiple solid tumor indications.