CytomX Therapeutics, Inc. (NASDAQ:CTMX) Receives $5.77 Average Price Target from Analysts

CytomX Therapeutics, Inc. (NASDAQ:CTMX) has been given a consensus recommendation of “Moderate Buy” by the six brokerages that are currently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $5.77.

A number of brokerages recently weighed in on CTMX. StockNews.com lowered shares of CytomX Therapeutics from a “buy” rating to a “hold” rating in a research note on Monday, June 17th. Piper Sandler raised shares of CytomX Therapeutics from a “neutral” rating to an “overweight” rating and raised their price target for the company from $2.25 to $3.50 in a research note on Tuesday, May 28th. Finally, HC Wainwright reaffirmed a “neutral” rating on shares of CytomX Therapeutics in a research note on Friday, September 13th.

CytomX Therapeutics Price Performance

CTMX stock opened at $1.21 on Wednesday. The company’s 50-day simple moving average is $1.28 and its 200-day simple moving average is $1.74. CytomX Therapeutics has a 52-week low of $1.04 and a 52-week high of $5.85. The firm has a market cap of $94.28 million, a P/E ratio of 6.05 and a beta of 1.03.

CytomX Therapeutics (NASDAQ:CTMX) last posted its earnings results on Thursday, August 8th. The biotechnology company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.01). CytomX Therapeutics had a negative return on equity of 27.44% and a net margin of 9.27%. The firm had revenue of $25.12 million for the quarter, compared to analysts’ expectations of $21.79 million. During the same period in the previous year, the company earned ($0.02) earnings per share. On average, analysts anticipate that CytomX Therapeutics will post -0.2 earnings per share for the current fiscal year.

Institutional Trading of CytomX Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Acadian Asset Management LLC increased its holdings in shares of CytomX Therapeutics by 1.4% during the 2nd quarter. Acadian Asset Management LLC now owns 2,728,569 shares of the biotechnology company’s stock worth $3,324,000 after buying an additional 37,739 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of CytomX Therapeutics by 206.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,238,499 shares of the biotechnology company’s stock worth $1,511,000 after buying an additional 833,825 shares during the last quarter. Congress Park Capital LLC increased its holdings in shares of CytomX Therapeutics by 393.3% during the 2nd quarter. Congress Park Capital LLC now owns 1,153,220 shares of the biotechnology company’s stock worth $1,407,000 after buying an additional 919,420 shares during the last quarter. Sei Investments Co. acquired a new stake in shares of CytomX Therapeutics during the 2nd quarter worth approximately $467,000. Finally, Candriam S.C.A. acquired a new stake in shares of CytomX Therapeutics during the 2nd quarter worth approximately $256,000. Institutional investors and hedge funds own 67.77% of the company’s stock.

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.