CytomX Therapeutics, Inc. (NASDAQ:CTMX) Given Average Recommendation of “Buy” by Analysts

CytomX Therapeutics, Inc. (NASDAQ:CTMX) has been assigned an average recommendation of “Buy” from the twelve ratings firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, nine have given a buy rating and two have given a strong buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $12.00.

Several brokerages recently commented on CTMX. Wolfe Research assumed coverage on shares of CytomX Therapeutics in a report on Tuesday, May 19th. They set an “outperform” rating and a $6.00 target price for the company. Zacks Research raised shares of CytomX Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 21st. Wall Street Zen upgraded shares of CytomX Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 9th. Guggenheim reduced their price objective on CytomX Therapeutics from $15.00 to $14.00 and set a “buy” rating for the company in a report on Monday. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of CytomX Therapeutics in a research note on Tuesday, June 16th.

CytomX Therapeutics Price Performance

CTMX stock opened at $3.49 on Friday. The company has a fifty day moving average price of $3.36 and a two-hundred day moving average price of $4.22. CytomX Therapeutics has a one year low of $1.72 and a one year high of $8.21. The stock has a market cap of $593.96 million, a price-to-earnings ratio of -6.98 and a beta of 2.12.

CytomX Therapeutics (NASDAQ:CTMX) last issued its quarterly earnings data on Thursday, August 6th. The biotechnology company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.01). The company had revenue of $1.42 million during the quarter, compared to the consensus estimate of $12.39 million. CytomX Therapeutics had a negative net margin of 435.21% and a negative return on equity of 38.46%. Research analysts anticipate that CytomX Therapeutics will post -0.4 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. acquired a new position in shares of CytomX Therapeutics during the 1st quarter worth approximately $39,000. Woodline Partners LP acquired a new stake in shares of CytomX Therapeutics in the first quarter valued at approximately $1,054,000. Geode Capital Management LLC raised its position in shares of CytomX Therapeutics by 103.4% in the second quarter. Geode Capital Management LLC now owns 1,745,176 shares of the biotechnology company’s stock valued at $3,963,000 after buying an additional 887,218 shares in the last quarter. Invesco Ltd. bought a new stake in shares of CytomX Therapeutics in the second quarter valued at approximately $32,000. Finally, Marshall Wace LLP boosted its stake in shares of CytomX Therapeutics by 2,650.9% in the second quarter. Marshall Wace LLP now owns 2,353,122 shares of the biotechnology company’s stock valued at $5,342,000 after buying an additional 2,267,583 shares during the period. Institutional investors 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.