CytomX Therapeutics, Inc. (NASDAQ:CTMX – Get Free Report)’s share price was up 6.1% during mid-day trading on Wednesday . The company traded as high as $2.86 and last traded at $2.8550. Approximately 2,458,067 shares were traded during trading, a decline of 49% from the average session volume of 4,787,410 shares. The stock had previously closed at $2.69.
Wall Street Analysts Forecast Growth
A number of equities analysts recently weighed in on CTMX shares. JPMorgan Chase & Co. dropped their price target on CytomX Therapeutics from $12.00 to $11.00 and set an “overweight” rating on the stock in a research note on Thursday, August 13th. Wolfe Research began coverage on shares of CytomX Therapeutics in a research note on Tuesday, May 19th. They set an “outperform” rating and a $6.00 price objective for the company. Zacks Research downgraded shares of CytomX Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 19th. Guggenheim cut their price target on shares of CytomX Therapeutics from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Monday, August 10th. Finally, Wall Street Zen downgraded shares of CytomX Therapeutics from a “hold” rating to a “sell” rating in a research report on Sunday, August 23rd. 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 issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $11.90.
CytomX Therapeutics Price Performance
CytomX Therapeutics (NASDAQ:CTMX – Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The biotechnology company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.01). CytomX Therapeutics had a negative return on equity of 38.46% and a negative net margin of 435.21%.The business had revenue of $1.42 million during the quarter, compared to analysts’ expectations of $12.39 million. As a group, sell-side analysts forecast that CytomX Therapeutics, Inc. will post -0.4 EPS for the current fiscal year.
Institutional Trading of CytomX Therapeutics
Several institutional investors have recently made changes to their positions in the stock. Lido Advisors LLC acquired a new position in shares of CytomX Therapeutics during the 1st quarter valued at about $49,000. May Hill Capital LLC acquired a new stake in CytomX Therapeutics in the 4th quarter worth approximately $46,000. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new stake in CytomX Therapeutics in the 1st quarter worth approximately $52,000. Nierenberg Investment Management Company LLC bought a new stake in CytomX Therapeutics during the second quarter worth approximately $47,081. Finally, Integrated Wealth Concepts LLC bought a new stake in CytomX Therapeutics during the second quarter worth approximately $47,000. 67.77% of the stock is currently owned by institutional investors and hedge funds.
About CytomX Therapeutics
CytomX Therapeutics, Inc (NASDAQ: CTMX) is a clinical-stage biopharmaceutical company focused on developing cancer therapies designed to selectively activate in the tumor microenvironment. The company’s Probody therapeutic platform uses molecular masking technology intended to limit antibody activity in healthy tissue and enable activation by proteases that are more prevalent in tumors.
CytomX’s pipeline includes investigational therapies spanning several modalities, including Probody drug conjugates, T-cell engagers and cytokine-based treatments.
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