CytomX Therapeutics (NASDAQ:CTMX) Stock Gets Price Target Boost from Wedbush

CytomX Therapeutics (NASDAQ:CTMX) had its price target upped by Wedbush from $11.00 to $12.00 in a report issued on Friday, Benzinga reports. The firm presently has an “outperform” rating on the biotechnology company’s stock. Wedbush‘s price target suggests a potential upside of 447.95% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. Guggenheim dropped 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 cut shares of CytomX Therapeutics from a “hold” rating to a “sell” rating in a research note on Sunday, August 23rd. Cantor Fitzgerald reissued an “overweight” rating on shares of CytomX Therapeutics in a report on Tuesday, October 13th. Weiss Ratings restated a “sell (d)” rating on shares of CytomX Therapeutics in a research report on Friday, September 11th. Finally, Zacks Research cut shares of CytomX Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, CytomX Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $12.00.

CytomX Therapeutics Stock Up 2.3%

NASDAQ:CTMX opened at $2.19 on Friday. The stock has a market cap of $477.20 million, a P/E ratio of -4.38 and a beta of 2.23. The business’s 50-day moving average price is $2.71 and its two-hundred day moving average price is $3.81. CytomX Therapeutics has a twelve month low of $2.11 and a twelve month high of $8.21.

CytomX Therapeutics (NASDAQ:CTMX) last issued its quarterly earnings data on Thursday, November 5th. The biotechnology company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.02). The business had revenue of $1.69 million for the quarter, compared to analysts’ expectations of $10.38 million. CytomX Therapeutics had a negative return on equity of 35.54% and a negative net margin of 608.98%. On average, equities research analysts expect that CytomX Therapeutics will post -0.40 EPS for the current fiscal year.

Hedge Funds Weigh In On CytomX Therapeutics

Institutional investors have recently modified their holdings of the company. Almanack Investment Partners LLC. bought a new stake in CytomX Therapeutics in the 3rd quarter worth approximately $30,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in CytomX Therapeutics in the third quarter worth approximately $30,000. Integrated Wealth Concepts LLC purchased a new stake in CytomX Therapeutics in the second quarter worth approximately $47,000. Nierenberg Investment Management Company LLC purchased a new stake in CytomX Therapeutics in the second quarter worth approximately $47,081. Finally, Lido Advisors LLC bought a new position in CytomX Therapeutics during the first quarter valued at approximately $49,000. 67.77% of the stock is currently owned by institutional investors.

CytomX Therapeutics News Roundup

Here are the key news stories impacting CytomX Therapeutics this week:

• Positive Sentiment: Wedbush raised its price target to $12 from $11 and maintained an Outperform rating, signaling continued optimism about CytomX’s prospects. Wedbush Raises Price Target
• Positive Sentiment: Varseta-M reported 20%–32% objective response rates and a seven-month median progression-free survival in late-line colorectal cancer. The program has FDA Fast Track designation, with pivotal-trial initiation planned for the first half of 2027. The company also had $367 million in cash and potential partnership milestones, although those milestones are contingent on future development and commercial progress. CytomX Stock Trading Near Cash Value
• Negative Sentiment: Third-quarter revenue was $1.69 million, well below analyst expectations of $10.38 million. CytomX reported a loss of $0.09 per share; one report characterized this as a $0.02-per-share miss against its consensus estimate. The revenue shortfall and continuing losses may weigh on sentiment. CytomX Q3 Results
• Negative Sentiment: The clinical-program outlook carries execution risk, and the cited analysis notes prior dilution and terminated legacy partnerships as concerns that have pressured revenue. CytomX Stock Trading Near Cash Value

CytomX Therapeutics Company Profile

CytomX Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing cancer medicines designed to be activated selectively within the tumor microenvironment. The company’s approach is intended to improve the precision of treatment by limiting activity in healthy tissues while enabling therapeutic effects at tumor sites.

CytomX’s research is based on its Probody therapeutic platform, which uses molecular masking and tumor-associated protease activity to conditionally activate antibody-based medicines.