CytomX Therapeutics (NASDAQ:CTMX) Receives Outperform Rating from Wedbush

CytomX Therapeutics (NASDAQ:CTMX)‘s stock had its “outperform” rating reiterated by Wedbush in a research note issued on Friday,RTT News reports. They currently have a $6.00 price objective on the biotechnology company’s stock. Wedbush’s price target indicates a potential upside of 65.75% from the company’s current price.

Other analysts have also recently issued research reports about the company. Weiss Ratings raised CytomX Therapeutics from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, October 8th. Oppenheimer started coverage on CytomX Therapeutics in a report on Thursday, July 31st. They set an “outperform” rating and a $7.00 price target for the company. Barclays boosted their price target on CytomX Therapeutics from $3.50 to $6.00 and gave the company an “overweight” rating in a research note on Tuesday, October 21st. Finally, Cantor Fitzgerald started coverage on shares of CytomX Therapeutics in a research report on Monday, September 22nd. They set an “overweight” rating and a $6.00 price objective on the stock. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $5.83.

CytomX Therapeutics Stock Performance

Shares of CTMX stock traded down $0.57 during trading on Friday, hitting $3.62. 7,772,047 shares of the company were exchanged, compared to its average volume of 3,388,178. The business’s 50-day simple moving average is $2.95 and its 200 day simple moving average is $2.38. CytomX Therapeutics has a twelve month low of $0.40 and a twelve month high of $4.62. The firm has a market capitalization of $596.99 million, a price-to-earnings ratio of 6.46 and a beta of 2.29.

CytomX Therapeutics (NASDAQ:CTMX) last released its earnings results on Thursday, November 6th. The biotechnology company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.05). CytomX Therapeutics had a return on equity of 158.70% and a net margin of 34.04%.The company had revenue of $5.96 million during the quarter, compared to analysts’ expectations of $11.50 million. On average, equities analysts forecast that CytomX Therapeutics will post -0.05 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CTMX. Farther Finance Advisors LLC acquired a new stake in CytomX Therapeutics in the 3rd quarter worth approximately $25,000. Miller Financial Services LLC raised its position in shares of CytomX Therapeutics by 104.0% in the first quarter. Miller Financial Services LLC now owns 51,000 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 26,000 shares during the period. Invesco Ltd. acquired a new stake in shares of CytomX Therapeutics in the second quarter worth $32,000. Pursue Wealth Partners LLC acquired a new stake in shares of CytomX Therapeutics in the second quarter worth $33,000. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in shares of CytomX Therapeutics during the 3rd quarter worth $34,000. 67.77% of the stock is owned by institutional investors.

About CytomX Therapeutics

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.