CytomX Therapeutics, Inc. (NASDAQ:CTMX) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

CytomX Therapeutics, Inc. (NASDAQ:CTMX) has been assigned a consensus recommendation of “Moderate Buy” from the eight brokerages that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $9.00.

CTMX has been the topic of several recent research reports. Barclays increased their price objective on shares of CytomX Therapeutics from $8.00 to $10.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 4th. Piper Sandler upped their target price on shares of CytomX Therapeutics from $6.50 to $10.00 and gave the company an “overweight” rating in a report on Tuesday, January 20th. Guggenheim reiterated a “buy” rating and issued a $10.00 price target on shares of CytomX Therapeutics in a research report on Monday, March 9th. Finally, Cantor Fitzgerald lifted their price target 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.

CytomX Therapeutics Stock Performance

Shares of NASDAQ:CTMX opened at $4.68 on Wednesday. The stock has a market capitalization of $792.93 million, a price-to-earnings ratio of 11.70 and a beta of 2.44. The stock’s 50-day simple moving average is $5.19 and its two-hundred day simple moving average is $4.04. CytomX Therapeutics has a 52-week low of $0.40 and a 52-week high of $6.35.

Hedge Funds Weigh In On CytomX Therapeutics

A number of institutional investors have recently bought and sold shares of CTMX. Precision Wealth Strategies LLC purchased a new stake in CytomX Therapeutics in the third quarter worth about $756,000. Inspire Investing LLC bought a new position in shares of CytomX Therapeutics in the third quarter worth about $1,667,000. Baker BROS. Advisors LP lifted its position in shares of CytomX Therapeutics by 22.0% during the 3rd quarter. Baker BROS. Advisors LP now owns 4,250,826 shares of the biotechnology company’s stock valued at $13,560,000 after buying an additional 766,600 shares in the last quarter. Vivo Capital LLC purchased a new position in shares of CytomX Therapeutics during the 2nd quarter valued at about $13,096,000. Finally, Franklin Resources Inc. bought a new position in shares of CytomX Therapeutics during the 2nd quarter valued at approximately $13,096,000. 67.77% of the stock is owned by institutional investors.

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.