CytomX Therapeutics (NASDAQ:CTMX) Stock Rating Upgraded by Zacks Research

CytomX Therapeutics (NASDAQ:CTMX) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

A number of other research firms also recently issued reports on CTMX. HC Wainwright dropped their price target on CytomX Therapeutics from $17.00 to $11.00 and set a “buy” rating on the stock in a research report on Monday, May 11th. Wall Street Zen raised shares of CytomX Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 9th. Weiss Ratings reiterated a “sell (d)” rating on shares of CytomX Therapeutics in a report on Tuesday, June 16th. Wolfe Research began coverage on shares of CytomX Therapeutics in a report on Tuesday, May 19th. They set an “outperform” rating and a $6.00 target price on the stock. Finally, Piper Sandler raised their target price on shares of CytomX Therapeutics from $10.00 to $12.00 and gave the company an “overweight” rating in a research report on Monday, March 23rd. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, CytomX Therapeutics presently has a consensus rating of “Buy” and an average target price of $12.10.

CytomX Therapeutics Stock Performance

CytomX Therapeutics stock opened at $3.33 on Tuesday. The company has a 50 day moving average price of $3.45 and a 200-day moving average price of $4.36. CytomX Therapeutics has a fifty-two week low of $1.72 and a fifty-two week high of $8.21. The company has a market capitalization of $566.73 million, a PE ratio of -8.12 and a beta of 2.08.

CytomX Therapeutics (NASDAQ:CTMX) last announced its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.04. The company had revenue of $10.26 million for the quarter, compared to analysts’ expectations of $4.68 million. CytomX Therapeutics had a negative return on equity of 36.61% and a negative net margin of 166.40%. On average, analysts forecast that CytomX Therapeutics will post -0.45 earnings per share for the current year.

Institutional Trading of CytomX Therapeutics

Several large investors have recently added to or reduced their stakes in CTMX. Schulhoff & Co. Inc. purchased a new position in shares of CytomX Therapeutics during the 4th quarter valued at about $1,597,000. Eversept Partners LP purchased a new stake in shares of CytomX Therapeutics in the fourth quarter worth about $10,680,000. Elmind Capital LP purchased a new stake in shares of CytomX Therapeutics in the fourth quarter worth about $2,982,000. Y Intercept Hong Kong Ltd acquired a new stake in CytomX Therapeutics during the first quarter worth about $787,000. Finally, Pictet Asset Management Holding SA acquired a new stake in CytomX Therapeutics during the first quarter worth about $78,000. Hedge funds and other institutional investors own 67.77% of the company’s stock.

CytomX Therapeutics Company Profile

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.