CytomX Therapeutics’ (CTMX) Buy Rating Reiterated at Guggenheim

CytomX Therapeutics (NASDAQ:CTMX)‘s stock had its “buy” rating reissued by equities researchers at Guggenheim in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $10.00 price target on the biotechnology company’s stock. Guggenheim’s target price suggests a potential upside of 112.77% from the stock’s previous close.

CTMX has been the topic of several other reports. Cantor Fitzgerald upped their target price on shares of CytomX Therapeutics from $6.00 to $10.00 and gave the company an “overweight” rating in a research report on Wednesday, February 4th. Piper Sandler boosted their price objective on CytomX Therapeutics from $6.50 to $10.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 20th. HC Wainwright upped their price objective on CytomX Therapeutics from $5.00 to $10.00 and gave the company a “buy” rating in a research report on Tuesday, November 11th. Finally, Barclays raised their price objective on CytomX Therapeutics from $8.00 to $10.00 and gave the company an “overweight” rating in a research note on Wednesday, February 4th. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $9.00.

CytomX Therapeutics Trading Up 0.4%

Shares of CTMX stock traded up $0.02 on Monday, reaching $4.70. The company’s stock had a trading volume of 174,555 shares, compared to its average volume of 3,100,192. CytomX Therapeutics has a 1 year low of $0.40 and a 1 year high of $6.35. The company has a market capitalization of $796.32 million, a price-to-earnings ratio of 11.75 and a beta of 2.44. The stock’s fifty day simple moving average is $5.12 and its 200-day simple moving average is $3.94.

Institutional Trading of CytomX Therapeutics

A number of large investors have recently made changes to their positions in CTMX. Goldman Sachs Group Inc. purchased a new position in CytomX Therapeutics in the 1st quarter worth about $39,000. Woodline Partners LP purchased a new stake in CytomX Therapeutics in the 1st quarter valued at about $1,054,000. Geode Capital Management LLC grew its stake in CytomX Therapeutics by 103.4% in the 2nd quarter. Geode Capital Management LLC now owns 1,745,176 shares of the biotechnology company’s stock worth $3,963,000 after acquiring an additional 887,218 shares in the last quarter. Franklin Resources Inc. purchased a new position in shares of CytomX Therapeutics during the second quarter worth approximately $13,096,000. Finally, XTX Topco Ltd purchased a new position in shares of CytomX Therapeutics during the second quarter worth approximately $277,000. 67.77% of the stock is owned by hedge funds and other institutional investors.

CytomX Therapeutics Company Profile

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.