CytomX Therapeutics (NASDAQ:CTMX) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of CytomX Therapeutics (NASDAQ:CTMX) from a hold rating to a buy rating in a report released on Tuesday morning.

Several other equities research analysts have also weighed in 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. Wedbush reiterated an “outperform” rating and issued a $6.00 target price (up from $5.00) on shares of CytomX Therapeutics in a report on Monday. Finally, HC Wainwright reiterated a “neutral” rating on shares of CytomX Therapeutics in a report on Friday, March 7th.

CytomX Therapeutics Stock Performance

Shares of CTMX stock opened at $2.00 on Tuesday. CytomX Therapeutics has a 52-week low of $0.40 and a 52-week high of $2.55. The stock has a market cap of $161.24 million, a PE ratio of 11.76 and a beta of 1.11. The firm’s 50 day moving average price is $0.79 and its two-hundred day moving average price is $0.89.

CytomX Therapeutics (NASDAQ:CTMX) last posted its earnings results on Monday, May 12th. The biotechnology company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.09. The company had revenue of $50.92 million for the quarter, compared to analyst estimates of $35.42 million. CytomX Therapeutics had a net margin of 10.96% and a negative return on equity of 41.47%. During the same period last year, the business posted $0.17 earnings per share. As a group, sell-side analysts predict that CytomX Therapeutics will post -0.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CytomX Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Northern Trust Corp raised its holdings in shares of CytomX Therapeutics by 16.0% during the fourth quarter. Northern Trust Corp now owns 150,632 shares of the biotechnology company’s stock worth $155,000 after acquiring an additional 20,746 shares during the period. Jacobs Levy Equity Management Inc. raised its holdings in shares of CytomX Therapeutics by 1.5% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,547,215 shares of the biotechnology company’s stock worth $1,594,000 after acquiring an additional 23,139 shares during the period. Miller Financial Services LLC acquired a new stake in shares of CytomX Therapeutics during the fourth quarter worth $26,000. Prudential Financial Inc. raised its holdings in shares of CytomX Therapeutics by 76.2% during the fourth quarter. Prudential Financial Inc. now owns 64,300 shares of the biotechnology company’s stock worth $66,000 after acquiring an additional 27,800 shares during the period. Finally, Traphagen Investment Advisors LLC acquired a new stake in shares of CytomX Therapeutics during the fourth quarter worth $31,000. 67.77% of the stock is currently owned by institutional investors and hedge funds.

About CytomX Therapeutics

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.