CytomX Therapeutics, Inc. (NASDAQ:CTMX) Receives Average Rating of “Buy” from Brokerages

Shares of CytomX Therapeutics, Inc. (NASDAQ:CTMXGet Rating) have been assigned an average rating of “Buy” from the eight ratings firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and six have given a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $10.71.

Several research analysts have recently weighed in on CTMX shares. JPMorgan Chase & Co. lowered their price objective on shares of CytomX Therapeutics from $10.00 to $9.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 2nd. HC Wainwright restated a “buy” rating and set a $11.00 price objective on shares of CytomX Therapeutics in a research note on Friday, March 4th. Piper Sandler lowered their price objective on shares of CytomX Therapeutics from $16.00 to $10.00 in a research note on Friday, May 27th. Wedbush lowered their price objective on shares of CytomX Therapeutics from $10.00 to $6.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 10th. Finally, StockNews.com downgraded shares of CytomX Therapeutics from a “hold” rating to a “sell” rating in a report on Friday, May 27th.

A number of hedge funds and other institutional investors have recently bought and sold shares of CTMX. Rubric Capital Management LP bought a new stake in CytomX Therapeutics in the 4th quarter valued at about $10,420,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of CytomX Therapeutics during the 1st quarter worth approximately $3,446,000. Morgan Stanley lifted its holdings in shares of CytomX Therapeutics by 5,827.7% during the 2nd quarter. Morgan Stanley now owns 636,037 shares of the biotechnology company’s stock worth $4,027,000 after acquiring an additional 625,307 shares during the period. Acadian Asset Management LLC lifted its holdings in shares of CytomX Therapeutics by 115.2% during the 1st quarter. Acadian Asset Management LLC now owns 885,107 shares of the biotechnology company’s stock worth $2,362,000 after acquiring an additional 473,885 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in shares of CytomX Therapeutics by 77.2% during the 1st quarter. Renaissance Technologies LLC now owns 895,900 shares of the biotechnology company’s stock worth $2,392,000 after acquiring an additional 390,400 shares during the period. 92.34% of the stock is owned by hedge funds and other institutional investors.

Shares of CTMX stock opened at $1.60 on Friday. CytomX Therapeutics has a 52-week low of $1.51 and a 52-week high of $7.53. The stock has a market cap of $104.64 million, a PE ratio of -1.13 and a beta of 0.76. The firm’s 50 day moving average price is $1.82 and its two-hundred day moving average price is $3.36.

CytomX Therapeutics (NASDAQ:CTMXGet Rating) last announced its quarterly earnings results on Thursday, May 5th. The biotechnology company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.02). CytomX Therapeutics had a negative return on equity of 91.89% and a negative net margin of 129.97%. During the same quarter in the prior year, the firm earned ($0.26) EPS. As a group, analysts forecast that CytomX Therapeutics will post -1.44 EPS for the current year.

About CytomX Therapeutics (Get Rating)

CytomX Therapeutics, Inc operates as an oncology-focused biopharmaceutical company in the United States. The company develops antibody therapeutics based on its Probody technology platform for the treatment of cancer. The company's product candidates include CX-2009, an antibody drug conjugates (ADC) against CD166, which is in Phase II clinical trials for the treatment of breast cancer; CX-2029 that is in Phase II clinical trials for the treatment of squamous non-small cell lung cancer, head and neck squamous cell carcinoma, esophageal and gastro-esophageal junction cancers, and diffuse large B-cell lymphoma; BMS-986249, a CTLA-4 Probody therapeutic drug, which is in Phase I/II clinical trials for the treatment of metastatic melanoma; and BMS-986288, an anti-CTLA-4 Probody drug, which is in Phase I clinical trials for the treatment of solid tumors.

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Analyst Recommendations for CytomX Therapeutics (NASDAQ:CTMX)

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