Shares of CytomX Therapeutics, Inc. (NASDAQ:CTMX – Get Free Report) have been given an average rating of “Moderate Buy” by the eleven brokerages that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, nine have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $12.10.
Several brokerages have recently weighed in on CTMX. Weiss Ratings restated a “sell (d)” rating on shares of CytomX Therapeutics in a research report on Tuesday, June 16th. HC Wainwright dropped their target price on shares of CytomX Therapeutics from $17.00 to $11.00 and set a “buy” rating on the stock in a research report on Monday, May 11th. Piper Sandler lifted their price target on shares of CytomX Therapeutics from $10.00 to $12.00 and gave the stock an “overweight” rating in a research note on Monday, March 23rd. Wolfe Research initiated coverage on shares of CytomX Therapeutics in a research report on Tuesday, May 19th. They issued an “outperform” rating and a $6.00 price target for the company. Finally, Wall Street Zen raised shares of CytomX Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 9th.
Check Out Our Latest Stock Analysis on CTMX
CytomX Therapeutics Trading Down 1.1%
CytomX Therapeutics (NASDAQ:CTMX – Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The biotechnology company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.04. CytomX Therapeutics had a negative return on equity of 36.61% and a negative net margin of 166.40%.The company had revenue of $10.26 million for the quarter, compared to analysts’ expectations of $4.68 million. As a group, sell-side analysts forecast that CytomX Therapeutics will post -0.45 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in the company. Wells Fargo & Company MN lifted its stake in CytomX Therapeutics by 83.2% in the fourth quarter. Wells Fargo & Company MN now owns 6,605 shares of the biotechnology company’s stock valued at $28,000 after buying an additional 3,000 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of CytomX Therapeutics during the fourth quarter worth approximately $35,000. Lido Advisors LLC acquired a new position in shares of CytomX Therapeutics in the 1st quarter valued at $49,000. May Hill Capital LLC acquired a new position in shares of CytomX Therapeutics in the 4th quarter valued at $46,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in CytomX Therapeutics in the 1st quarter valued at $52,000. 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.
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