Guggenheim Upgrades CytomX Therapeutics (NASDAQ:CTMX) to “Strong-Buy”

CytomX Therapeutics (NASDAQ:CTMX) was upgraded by investment analysts at Guggenheim to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

Other equities research analysts also recently issued research reports about the stock. Cantor Fitzgerald started coverage on CytomX Therapeutics in a report on Monday, September 22nd. They issued an “overweight” rating and a $6.00 price objective on the stock. Weiss Ratings raised CytomX Therapeutics from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, October 8th. HC Wainwright upped their price objective on CytomX Therapeutics from $5.00 to $10.00 and gave the stock a “buy” rating in a report on Tuesday, November 11th. Wedbush reiterated an “outperform” rating and issued a $6.00 price objective on shares of CytomX Therapeutics in a research report on Friday, November 7th. Finally, Wall Street Zen lowered shares of CytomX Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, CytomX Therapeutics has an average rating of “Buy” and an average target price of $8.14.

CytomX Therapeutics Stock Performance

Shares of CTMX opened at $5.37 on Tuesday. The stock has a market capitalization of $909.84 million, a P/E ratio of 13.43 and a beta of 2.42. CytomX Therapeutics has a 1 year low of $0.40 and a 1 year high of $5.70. The company’s fifty day moving average is $4.17 and its two-hundred day moving average is $3.19.

CytomX Therapeutics (NASDAQ:CTMX) last released its earnings results on Thursday, November 6th. The biotechnology company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.05). CytomX Therapeutics had a return on equity of 44.49% and a net margin of 24.66%.The firm had revenue of $5.96 million during the quarter, compared to analyst estimates of $11.50 million. Sell-side analysts predict that CytomX Therapeutics will post -0.05 EPS for the current year.

Institutional Trading of CytomX Therapeutics

Large investors have recently bought and sold shares of the company. Orbimed Advisors LLC purchased a new position in shares of CytomX Therapeutics in the second quarter valued at $19,208,000. Commodore Capital LP acquired a new stake in CytomX Therapeutics in the 2nd quarter valued at about $17,462,000. Perceptive Advisors LLC purchased a new position in CytomX Therapeutics during the 2nd quarter valued at about $15,876,000. Franklin Resources Inc. acquired a new position in CytomX Therapeutics during the second quarter worth about $13,096,000. Finally, Vivo Capital LLC purchased a new stake in shares of CytomX Therapeutics in the second quarter valued at about $13,096,000. Institutional investors and hedge funds own 67.77% of the company’s stock.

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.