Brokerages Set CytomX Therapeutics, Inc. (NASDAQ:CTMX) PT at $6.67

CytomX Therapeutics, Inc. (NASDAQ:CTMX) has been assigned an average recommendation of “Moderate Buy” from the eight ratings firms that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $8.1429.

Several research analysts have recently issued reports on CTMX shares. Wedbush reaffirmed an “outperform” rating and issued a $6.00 price objective on shares of CytomX Therapeutics in a research note on Friday, November 7th. HC Wainwright upped their price target on shares of CytomX Therapeutics from $5.00 to $10.00 and gave the company a “buy” rating in a research report on Tuesday, November 11th. Piper Sandler upped their price target on CytomX Therapeutics from $6.50 to $10.00 and gave the company an “overweight” rating in a research report on Tuesday. Guggenheim started coverage on shares of CytomX Therapeutics in a research report on Tuesday. They set a “buy” rating and a $10.00 price objective for the company. Finally, Wall Street Zen downgraded CytomX Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, November 8th.

Institutional Trading of CytomX Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. bought a new position in shares of CytomX Therapeutics during the 1st quarter worth approximately $39,000. Woodline Partners LP bought a new position in shares of CytomX Therapeutics in the first quarter valued at approximately $1,054,000. Assenagon Asset Management S.A. increased its position in shares of CytomX Therapeutics by 1.2% during the second quarter. Assenagon Asset Management S.A. now owns 720,020 shares of the biotechnology company’s stock valued at $1,634,000 after acquiring an additional 8,566 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in CytomX Therapeutics by 63.6% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 28,966 shares of the biotechnology company’s stock worth $66,000 after acquiring an additional 11,258 shares during the period. Finally, Geode Capital Management LLC boosted its position in CytomX Therapeutics by 103.4% in the second quarter. Geode Capital Management LLC now owns 1,745,176 shares of the biotechnology company’s stock worth $3,963,000 after purchasing an additional 887,218 shares during the last quarter. 67.77% of the stock is owned by institutional investors.

CytomX Therapeutics Trading Up 8.1%

Shares of NASDAQ:CTMX opened at $5.72 on Tuesday. The firm has a 50 day moving average of $4.23 and a 200-day moving average of $3.22. CytomX Therapeutics has a 12 month low of $0.40 and a 12 month high of $6.15. The stock has a market capitalization of $969.14 million, a PE ratio of 14.30 and a beta of 2.42.

CytomX Therapeutics (NASDAQ:CTMX) last announced its quarterly earnings data on Thursday, November 6th. The biotechnology company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.05). CytomX Therapeutics had a return on equity of 44.49% and a net margin of 24.66%.The business had revenue of $5.96 million for the quarter, compared to the consensus estimate of $11.50 million. On average, research analysts predict that CytomX Therapeutics will post -0.05 EPS for the current fiscal year.

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.