Piper Sandler Issues Positive Forecast for CytomX Therapeutics (NASDAQ:CTMX) Stock Price

CytomX Therapeutics (NASDAQ:CTMX) had its price target lifted by Piper Sandler from $2.50 to $5.00 in a research note released on Thursday,Benzinga reports. Piper Sandler currently has an overweight rating on the biotechnology company’s stock.

A number of other research analysts also recently issued reports on CTMX. StockNews.com raised CytomX Therapeutics from a “hold” rating to a “buy” rating in a report on Tuesday. HC Wainwright upgraded shares of CytomX Therapeutics from a “neutral” rating to a “buy” rating and set a $5.00 target price for the company in a research note on Thursday. Finally, Wedbush reiterated an “outperform” rating and set a $6.00 price objective (up previously from $5.00) on shares of CytomX Therapeutics in a research report on Monday.

CytomX Therapeutics Stock Down 16.0%

Shares of CTMX opened at $2.00 on Thursday. 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 P/E ratio of 11.76 and a beta of 1.11. The business’s 50 day moving average price is $0.79 and its 200-day moving average price is $0.89.

CytomX Therapeutics (NASDAQ:CTMX) last released its quarterly earnings data on Monday, May 12th. The biotechnology company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.09. The business had revenue of $50.92 million during 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 earned $0.17 EPS. On average, equities analysts anticipate that CytomX Therapeutics will post -0.05 EPS for the current year.

Hedge Funds Weigh In On CytomX Therapeutics

A number of institutional investors have recently bought and sold shares of the stock. Miller Financial Services LLC purchased a new position in shares of CytomX Therapeutics during the 4th quarter valued at about $26,000. Traphagen Investment Advisors LLC bought a new stake in CytomX Therapeutics during the 4th quarter worth approximately $31,000. Algert Global LLC purchased a new position in CytomX Therapeutics during the fourth quarter valued at approximately $35,000. Velan Capital Investment Management LP bought a new position in shares of CytomX Therapeutics in the fourth quarter worth approximately $36,000. Finally, Aspire Growth Partners LLC purchased a new stake in shares of CytomX Therapeutics in the fourth quarter worth $42,000. 67.77% of the stock is owned by institutional investors.

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.