CytomX Therapeutics (NASDAQ:CTMX) Reaches New 52-Week High – Should You Buy?

CytomX Therapeutics, Inc. (NASDAQ:CTMX) reached a new 52-week high during trading on Thursday . The company traded as high as $6.15 and last traded at $5.8270, with a volume of 1467627 shares trading hands. The stock had previously closed at $5.29.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Guggenheim initiated coverage on CytomX Therapeutics in a research note on Tuesday. They set a “buy” rating and a $10.00 price target for the company. Weiss Ratings raised CytomX Therapeutics from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, October 8th. Wedbush restated an “outperform” rating and set a $6.00 target price on shares of CytomX Therapeutics in a report on Friday, November 7th. HC Wainwright upped their price target on CytomX Therapeutics from $5.00 to $10.00 and gave the company a “buy” rating in a report on Tuesday, November 11th. Finally, Barclays raised their price objective on CytomX Therapeutics from $6.00 to $8.00 and gave the stock an “overweight” rating in a research note on Tuesday. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $8.14.

CytomX Therapeutics Price Performance

The company has a market cap of $941.21 million, a PE ratio of 13.89 and a beta of 2.42. The stock has a fifty day moving average price of $4.26 and a 200-day moving average price of $3.25.

CytomX Therapeutics (NASDAQ:CTMX) last posted its quarterly earnings results 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). The business had revenue of $5.96 million for the quarter, compared to analyst estimates of $11.50 million. CytomX Therapeutics had a net margin of 24.66% and a return on equity of 44.49%. On average, equities analysts anticipate that CytomX Therapeutics, Inc. will post -0.05 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CTMX. Goldman Sachs Group Inc. acquired a new stake in shares of CytomX Therapeutics during the 1st quarter valued at $39,000. Woodline Partners LP acquired a new stake in CytomX Therapeutics during the first quarter valued at $1,054,000. Assenagon Asset Management S.A. grew its stake in CytomX Therapeutics by 1.2% in 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 purchasing an additional 8,566 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its position in CytomX Therapeutics by 63.6% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 28,966 shares of the biotechnology company’s stock worth $66,000 after purchasing an additional 11,258 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in CytomX Therapeutics by 103.4% in the 2nd 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 hedge funds and other 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.