Guggenheim initiated coverage on shares of CytomX Therapeutics (NASDAQ:CTMX) in a research report released on Tuesday morning, Briefing.com Automated Import reports. The brokerage issued a buy rating and a $16.00 price objective on the biotechnology company’s stock.
A number of other research analysts have also issued reports on the company. Cowen restated a buy rating on shares of CytomX Therapeutics in a research report on Wednesday, August 7th. ValuEngine raised CytomX Therapeutics from a sell rating to a hold rating in a research report on Thursday, August 1st. Wedbush cut CytomX Therapeutics from an outperform rating to a neutral rating and cut their target price for the company from $25.00 to $8.00 in a research note on Monday, November 11th. BidaskClub downgraded shares of CytomX Therapeutics from a sell rating to a strong sell rating in a report on Tuesday, October 1st. Finally, Nomura reissued a buy rating and set a $22.00 price target on shares of CytomX Therapeutics in a report on Sunday, August 11th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company’s stock. CytomX Therapeutics has a consensus rating of Buy and a consensus price target of $18.02.
NASDAQ CTMX traded up $1.00 during trading hours on Tuesday, reaching $6.18. The company’s stock had a trading volume of 1,008,877 shares, compared to its average volume of 440,307. The company has a current ratio of 4.40, a quick ratio of 4.40 and a debt-to-equity ratio of 0.31. The business has a 50-day simple moving average of $6.57 and a 200 day simple moving average of $9.25. CytomX Therapeutics has a 52 week low of $5.10 and a 52 week high of $19.75. The stock has a market cap of $243.53 million, a PE ratio of -3.04 and a beta of 0.64.
CytomX Therapeutics (NASDAQ:CTMX) last issued its earnings results on Thursday, November 7th. The biotechnology company reported ($0.52) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.39) by ($0.13). The company had revenue of $10.71 million during the quarter, compared to analyst estimates of $23.58 million. CytomX Therapeutics had a negative net margin of 163.18% and a negative return on equity of 90.62%. As a group, equities analysts predict that CytomX Therapeutics will post -1.96 EPS for the current year.
A number of hedge funds have recently modified their holdings of the stock. Nuveen Asset Management LLC acquired a new stake in CytomX Therapeutics in the 2nd quarter valued at approximately $8,352,000. Victory Capital Management Inc. grew its stake in shares of CytomX Therapeutics by 20.0% in the second quarter. Victory Capital Management Inc. now owns 1,985,990 shares of the biotechnology company’s stock worth $22,283,000 after purchasing an additional 330,460 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of CytomX Therapeutics by 10.8% during the second quarter. Vanguard Group Inc. now owns 2,671,374 shares of the biotechnology company’s stock valued at $29,973,000 after purchasing an additional 259,355 shares during the period. Morgan Stanley increased its holdings in shares of CytomX Therapeutics by 188.5% during the second quarter. Morgan Stanley now owns 331,094 shares of the biotechnology company’s stock valued at $3,715,000 after purchasing an additional 216,330 shares during the period. Finally, Massachusetts Financial Services Co. MA bought a new stake in shares of CytomX Therapeutics during the third quarter valued at about $1,438,000. 80.16% of the stock is owned by institutional investors and hedge funds.
About CytomX Therapeutics
CytomX Therapeutics, Inc operates as an oncology-focused biopharmaceutical company in the United States. The company develops a novel class of investigational antibody therapeutics based on its Probody technology platform for the treatment of cancer. Its product candidates in clinical stage include CX-072, a Probody therapeutic targeting programmed cell death ligand 1 immuno-oncology target; CX-2009, a Probody drug conjugate (PDC) against CD166 novel drug target; BMS-986249, a CTLA-4 Probody therapeutic drug; CX-2029, a PDC targeting CD71; and CX-188, a Probody therapeutic targeting PD-1 anti-cancer target.
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