CytomX Therapeutics (NASDAQ:CTMX – Get Free Report) had its price objective reduced by investment analysts at HC Wainwright from $17.00 to $11.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s target price would indicate a potential upside of 176.38% from the stock’s previous close.
Several other equities analysts also recently weighed in on CTMX. Barclays lifted their target price on shares of CytomX Therapeutics from $10.00 to $16.00 and gave the stock an “overweight” rating in a research note on Thursday, March 19th. Cantor Fitzgerald lifted their target price on shares of CytomX Therapeutics from $6.00 to $10.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 4th. Wall Street Zen upgraded shares of CytomX Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday. Jefferies Financial Group lifted their target price on shares of CytomX Therapeutics from $8.00 to $16.00 and gave the stock a “buy” rating in a research note on Wednesday, March 18th. Finally, Weiss Ratings downgraded shares of CytomX Therapeutics from a “hold (c-)” rating to a “sell (d)” rating in a research note on Thursday, March 19th. Nine analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $12.78.
Check Out Our Latest Stock Analysis on CytomX Therapeutics
CytomX Therapeutics Price Performance
CytomX Therapeutics (NASDAQ:CTMX – Get Free Report) last posted its earnings results on Thursday, May 7th. The biotechnology company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.04. The firm had revenue of $10.26 million during the quarter, compared to the consensus estimate of $4.68 million. CytomX Therapeutics had a negative net margin of 166.40% and a negative return on equity of 54.37%. On average, sell-side analysts expect that CytomX Therapeutics will post -0.56 earnings per share for the current fiscal year.
Insider Activity
In related news, insider Yu-Waye Chu sold 21,279 shares of the business’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $6.42, for a total transaction of $136,611.18. Following the completion of the transaction, the insider owned 189,446 shares of the company’s stock, valued at approximately $1,216,243.32. The trade was a 10.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Christopher Ogden sold 19,323 shares of the business’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $6.42, for a total transaction of $124,053.66. Following the transaction, the chief financial officer directly owned 296,948 shares of the company’s stock, valued at approximately $1,906,406.16. This represents a 6.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 191,063 shares of company stock worth $1,226,624 in the last three months. Insiders own 6.60% of the company’s stock.
Institutional Investors Weigh In On CytomX Therapeutics
Several hedge funds have recently bought and sold shares of the stock. Squarepoint Ops LLC lifted its position in CytomX Therapeutics by 4.5% during the fourth quarter. Squarepoint Ops LLC now owns 49,897 shares of the biotechnology company’s stock valued at $213,000 after purchasing an additional 2,169 shares during the last quarter. Wells Fargo & Company MN lifted 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 valued at $28,000 after purchasing an additional 3,000 shares during the last quarter. Velan Capital Investment Management LP lifted its position in CytomX Therapeutics by 6.7% during the third quarter. Velan Capital Investment Management LP now owns 80,000 shares of the biotechnology company’s stock valued at $255,000 after purchasing an additional 5,000 shares during the last quarter. Farther Finance Advisors LLC bought a new stake in CytomX Therapeutics during the third quarter valued at approximately $25,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in CytomX Therapeutics during the fourth quarter valued at approximately $35,000. 67.77% of the stock is currently owned by institutional investors.
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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