Zacks Research cut shares of CytomX Therapeutics (NASDAQ:CTMX – Free Report) from a strong-buy rating to a hold rating in a report issued on Wednesday,Zacks.com reports.
Other equities research analysts also recently issued research reports about the company. JPMorgan Chase & Co. cut their price target on CytomX Therapeutics from $12.00 to $11.00 and set an “overweight” rating for the company in a report on Thursday, August 13th. HC Wainwright decreased their price objective on shares of CytomX Therapeutics from $17.00 to $11.00 and set a “buy” rating on the stock in a report on Monday, May 11th. Wall Street Zen raised shares of CytomX Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of CytomX Therapeutics in a report on Tuesday, June 16th. Finally, Wolfe Research assumed coverage on shares of CytomX Therapeutics in a research note on Tuesday, May 19th. They issued an “outperform” rating and a $6.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $11.90.
Get Our Latest Report on CytomX Therapeutics
CytomX Therapeutics Stock Down 7.8%
CytomX Therapeutics (NASDAQ:CTMX – Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The biotechnology company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). The business had revenue of $1.42 million during the quarter, compared to analyst estimates of $12.39 million. CytomX Therapeutics had a negative net margin of 435.21% and a negative return on equity of 38.46%. Equities research analysts expect that CytomX Therapeutics will post -0.4 EPS for the current year.
Institutional Investors Weigh In On CytomX Therapeutics
A number of institutional investors have recently modified their holdings of CTMX. Wells Fargo & Company MN increased its position in CytomX Therapeutics by 83.2% during the fourth quarter. Wells Fargo & Company MN now owns 6,605 shares of the biotechnology company’s stock worth $28,000 after acquiring an additional 3,000 shares during the period. Invesco Ltd. acquired a new stake in CytomX Therapeutics in the 2nd quarter worth about $32,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in CytomX Therapeutics in the 4th quarter valued at about $35,000. Goldman Sachs Group Inc. bought a new stake in CytomX Therapeutics in the 1st quarter valued at about $39,000. Finally, May Hill Capital LLC acquired a new position in shares of CytomX Therapeutics during the 4th quarter worth approximately $46,000. Institutional investors own 67.77% of the company’s stock.
CytomX Therapeutics Company Profile
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.
Featured Stories
- Five stocks we like better than CytomX Therapeutics
- Coherent Stock Is Cooling Off Just as Its AI Thermal Opportunity Heats Up
- Moderna’s 177% Surge Has Investors Asking What Comes Next
- 3 Energy Stocks Raising Dividends as the Sector Surges
- 5 Reasons the S&P 500 Could Keep Rallying Through Year-End
Receive News & Ratings for CytomX Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CytomX Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.
