CytomX Therapeutics (NASDAQ:CTMX) Hits New 1-Year High – Here’s Why

Shares of CytomX Therapeutics, Inc. (NASDAQ:CTMX) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $6.17 and last traded at $6.01, with a volume of 162048 shares trading hands. The stock had previously closed at $6.09.

Analyst Ratings Changes

Several brokerages have recently commented on CTMX. Wall Street Zen downgraded CytomX Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Barclays increased their price target on CytomX Therapeutics from $6.00 to $8.00 and gave the company an “overweight” rating in a research report on Tuesday, January 20th. Wedbush reaffirmed an “outperform” rating and set a $6.00 price objective on shares of CytomX Therapeutics in a report on Friday, November 7th. Guggenheim assumed coverage on shares of CytomX Therapeutics in a research note on Tuesday, January 20th. They issued a “buy” rating and a $10.00 target price for the company. Finally, Weiss Ratings raised shares of CytomX Therapeutics from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, October 8th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $8.14.

CytomX Therapeutics Stock Up 0.2%

The firm has a market cap of $1.03 billion, a PE ratio of 15.17 and a beta of 2.44. The company has a 50-day simple moving average of $4.51 and a two-hundred day simple moving average of $3.40.

CytomX Therapeutics (NASDAQ:CTMX) last released its earnings results on Thursday, November 6th. The biotechnology company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.05). The business had revenue of $5.96 million for the quarter, compared to the consensus estimate of $11.50 million. CytomX Therapeutics had a return on equity of 44.49% and a net margin of 24.66%. As a group, equities analysts predict that CytomX Therapeutics, Inc. will post -0.05 earnings per share for the current year.

Institutional Investors Weigh In On CytomX Therapeutics

Several large investors have recently modified their holdings of CTMX. Farther Finance Advisors LLC purchased a new position in CytomX Therapeutics in the third quarter valued at approximately $25,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of CytomX Therapeutics in the fourth quarter valued at $35,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new position in shares of CytomX Therapeutics during the 3rd quarter valued at $34,000. Truist Financial Corp purchased a new position in shares of CytomX Therapeutics during the 3rd quarter valued at $40,000. Finally, Invesco Ltd. bought a new position in shares of CytomX Therapeutics during the 2nd quarter worth $32,000. Hedge funds and other institutional investors own 67.77% of the company’s stock.

About CytomX Therapeutics

CytomX Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of next-generation therapeutics based on its proprietary Probody® platform. The company engineers masked antibody prodrugs that remain inactive in healthy tissue but are selectively activated in the tumor microenvironment. This approach is designed to enhance the safety and tolerability of antibody-based therapies, particularly those targeting immuno-oncology pathways.

At the core of CytomX’s pipeline is Pacmilimab (CX-072), an anti–PD-L1 Probody therapeutic currently undergoing clinical evaluation for multiple solid tumor indications.