CytomX Therapeutics (NASDAQ:CTMX) Raised to Buy at Jefferies Financial Group

CytomX Therapeutics (NASDAQ:CTMX) was upgraded by Jefferies Financial Group from a “hold” rating to a “buy” rating in a research note issued to investors on Monday, Briefing.com reports. The brokerage presently has a $8.00 price objective on the biotechnology company’s stock, up from their prior price objective of $2.50. Jefferies Financial Group’s price target suggests a potential upside of 80.59% from the stock’s previous close.

A number of other research analysts have also issued reports on CTMX. StockNews.com lowered CytomX Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, April 23rd. BMO Capital Markets reaffirmed a “market perform” rating and set a $3.25 price objective on shares of CytomX Therapeutics in a report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. raised CytomX Therapeutics from an “underweight” rating to a “neutral” rating in a report on Monday, April 22nd. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $4.75.

CytomX Therapeutics Stock Down 1.6 %

CTMX stock opened at $4.43 on Monday. The business has a 50 day moving average price of $2.26 and a 200 day moving average price of $1.72. The stock has a market cap of $301.86 million, a price-to-earnings ratio of -221.39 and a beta of 1.09. CytomX Therapeutics has a fifty-two week low of $1.04 and a fifty-two week high of $5.85.

CytomX Therapeutics (NASDAQ:CTMX) last released its earnings results on Monday, March 11th. The biotechnology company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). The firm had revenue of $26.61 million during the quarter, compared to analyst estimates of $23.36 million. As a group, sell-side analysts anticipate that CytomX Therapeutics will post -0.25 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Sean A. Mccarthy sold 20,223 shares of the company’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $2.09, for a total value of $42,266.07. Following the sale, the chief executive officer now directly owns 524,481 shares in the company, valued at $1,096,165.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last ninety days, insiders have sold 35,024 shares of company stock worth $73,200. 7.00% of the stock is owned by corporate insiders.

Institutional Trading of CytomX Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Congress Park Capital LLC lifted its position in CytomX Therapeutics by 112.8% during the fourth quarter. Congress Park Capital LLC now owns 239,300 shares of the biotechnology company’s stock worth $371,000 after buying an additional 126,850 shares during the period. Bank of New York Mellon Corp lifted its position in CytomX Therapeutics by 737.4% during the third quarter. Bank of New York Mellon Corp now owns 266,836 shares of the biotechnology company’s stock worth $344,000 after buying an additional 234,970 shares during the period. Finally, AlphaMark Advisors LLC lifted its position in CytomX Therapeutics by 119.8% during the fourth quarter. AlphaMark Advisors LLC now owns 23,183 shares of the biotechnology company’s stock worth $36,000 after buying an additional 12,635 shares during the period. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

About CytomX Therapeutics

CytomX Therapeutics, Inc, an oncology-focused biopharmaceutical company, focuses on developing novel conditionally activated biologics localized to the tumor microenvironment. The company utilizes conditional activation platform technology for oncology biologics research and development comprising the validation of targets for antibody-drug conjugates (ADCs), opening therapeutic window for novel T-cell engagers (TCEs) targeting solid tumors, and increasing the therapeutic index for immune modulators, such as cytokines; and PROBODY platform in preclinical research in areas outside of oncology.