CytomX Therapeutics (NASDAQ:CTMX) Given “Outperform” Rating at Wedbush

CytomX Therapeutics (NASDAQ:CTMX)‘s stock had its “outperform” rating reissued by research analysts at Wedbush in a research report issued on Monday,RTT News reports. They currently have a $6.00 price objective on the biotechnology company’s stock, up from their prior price objective of $5.00. Wedbush’s price target would suggest a potential upside of 181.69% from the company’s current price.

A number of other equities analysts have also recently issued reports on CTMX. Piper Sandler started coverage on shares of CytomX Therapeutics in a report on Monday, April 14th. They issued an “overweight” rating and a $2.50 target price on the stock. StockNews.com started coverage on CytomX Therapeutics in a report on Tuesday, April 15th. They issued a “hold” rating on the stock. Finally, HC Wainwright reiterated a “neutral” rating on shares of CytomX Therapeutics in a research report on Friday, March 7th.

CytomX Therapeutics Trading Up 129.4%

Shares of NASDAQ:CTMX traded up $1.20 during trading on Monday, hitting $2.13. 113,231,332 shares of the stock were exchanged, compared to its average volume of 1,947,601. The company has a fifty day moving average price of $0.66 and a two-hundred day moving average price of $0.85. The company has a market cap of $171.72 million, a PE ratio of 12.53 and a beta of 1.11. CytomX Therapeutics has a 12-month low of $0.40 and a 12-month high of $2.69.

CytomX Therapeutics (NASDAQ:CTMX) last issued its quarterly earnings data on Monday, May 12th. The biotechnology company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.09. The firm had revenue of $50.92 million during the quarter, compared to the consensus estimate of $35.42 million. CytomX Therapeutics had a negative return on equity of 41.47% and a net margin of 10.96%. During the same period in the previous year, the firm posted $0.17 EPS. Equities research analysts anticipate that CytomX Therapeutics will post -0.05 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Miller Financial Services LLC bought a new stake in CytomX Therapeutics in the fourth quarter valued at about $26,000. Traphagen Investment Advisors LLC bought a new stake in shares of CytomX Therapeutics during the fourth quarter valued at approximately $31,000. Algert Global LLC acquired a new position in CytomX Therapeutics in the fourth quarter valued at approximately $35,000. Velan Capital Investment Management LP acquired a new position in CytomX Therapeutics in the fourth quarter valued at approximately $36,000. Finally, Aspire Growth Partners LLC acquired a new stake in CytomX Therapeutics in the fourth quarter worth $42,000. Institutional investors and hedge funds own 67.77% of the company’s stock.

CytomX Therapeutics Company Profile

CytomX Therapeutics, Inc, an oncology-focused biopharmaceutical company, focuses on developing novel conditionally activated biologics localized to the tumor microenvironment. The company utilizes conditional activation platform technology for oncology biologics research and development comprising the validation of targets for antibody-drug conjugates (ADCs), opening therapeutic window for novel T-cell engagers (TCEs) targeting solid tumors, and increasing the therapeutic index for immune modulators, such as cytokines; and PROBODY platform in preclinical research in areas outside of oncology.