CytomX Therapeutics, Inc. (NASDAQ:CTMX) Stock Has Consensus Price Target of $11.90 According to Brokerages

CytomX Therapeutics, Inc. (NASDAQ:CTMX) has been assigned a consensus recommendation of “Moderate Buy” from the twelve research firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, nine have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $11.90.

Several equities analysts recently weighed in on CTMX shares. JPMorgan Chase & Co. cut their price objective on shares of CytomX Therapeutics from $12.00 to $11.00 and set an “overweight” rating on the stock in a research report on Thursday, August 13th. Guggenheim decreased their target price on shares of CytomX Therapeutics from $15.00 to $14.00 and set a “buy” rating for the company in a research report on Monday, August 10th. Wall Street Zen lowered shares of CytomX Therapeutics from a “hold” rating to a “sell” rating in a research note on Sunday, August 23rd. Zacks Research lowered shares of CytomX Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 19th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of CytomX Therapeutics in a report on Friday, September 11th.

Institutional Trading of CytomX Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Engineers Gate Manager LP increased its position in shares of CytomX Therapeutics by 182.0% during the second quarter. Engineers Gate Manager LP now owns 83,130 shares of the biotechnology company’s stock valued at $312,000 after purchasing an additional 53,653 shares during the period. Integrated Wealth Concepts LLC bought a new position in CytomX Therapeutics in the second quarter worth $47,000. Pale Fire Capital SE acquired a new stake in CytomX Therapeutics during the second quarter worth $86,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in CytomX Therapeutics by 16.0% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 219,779 shares of the biotechnology company’s stock worth $824,000 after buying an additional 30,379 shares in the last quarter. Finally, Hsbc Holdings PLC bought a new stake in CytomX Therapeutics in the 2nd quarter valued at $103,000. Institutional investors and hedge funds own 67.77% of the company’s stock.

CytomX Therapeutics Stock Performance

CytomX Therapeutics stock opened at $2.56 on Friday. The company has a 50 day moving average price of $3.21 and a 200 day moving average price of $3.65. CytomX Therapeutics has a 52 week low of $2.55 and a 52 week high of $8.21. The firm has a market capitalization of $557.82 million, a price-to-earnings ratio of -5.12 and a beta of 2.21.

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

CytomX Therapeutics Company Profile

CytomX Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing antibody-based medicines for cancer and other serious diseases. The company’s technology is designed to keep therapeutic antibodies inactive in healthy tissue and activate them in disease sites, particularly within the tumor microenvironment, with the goal of improving treatment precision and reducing systemic toxicity.

CytomX’s Probody Therapeutics platform uses conditionally activated antibodies and related molecules.