Brokerages Set CytomX Therapeutics, Inc. (NASDAQ:CTMX) Price Target at $13.44

CytomX Therapeutics, Inc. (NASDAQ:CTMX) has earned an average recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and nine have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $13.4444.

Several research firms recently weighed in on CTMX. Jefferies Financial Group lifted their price objective on shares of CytomX Therapeutics from $8.00 to $16.00 and gave the stock a “buy” rating in a research note on Wednesday, March 18th. Barclays lifted their price objective on shares of CytomX Therapeutics from $10.00 to $16.00 and gave the stock an “overweight” rating in a research note on Thursday, March 19th. Cantor Fitzgerald lifted their price objective on shares of CytomX Therapeutics from $6.00 to $10.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 4th. Weiss Ratings lowered shares of CytomX Therapeutics from a “hold (c-)” rating to a “sell (d)” rating in a research note on Thursday, March 19th. Finally, JPMorgan Chase & Co. raised shares of CytomX Therapeutics from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $7.00 to $12.00 in a research note on Monday, March 16th.

CytomX Therapeutics Price Performance

CytomX Therapeutics stock opened at $4.13 on Thursday. The company’s 50 day simple moving average is $4.69 and its 200 day simple moving average is $4.52. CytomX Therapeutics has a fifty-two week low of $0.91 and a fifty-two week high of $8.21. The firm has a market capitalization of $702.88 million, a price-to-earnings ratio of -103.25 and a beta of 2.18.

CytomX Therapeutics (NASDAQ:CTMX) last released its quarterly earnings data on Monday, March 16th. The biotechnology company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.14). CytomX Therapeutics had a negative return on equity of 19.77% and a negative net margin of 22.79%.The firm had revenue of $0.66 million for the quarter, compared to the consensus estimate of $7.33 million. As a group, analysts predict that CytomX Therapeutics will post -0.56 EPS for the current fiscal year.

Insider Activity at CytomX Therapeutics

In other CytomX Therapeutics news, insider Yu-Waye Chu sold 21,279 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $6.42, for a total transaction of $136,611.18. Following the sale, the insider directly owned 189,446 shares in the company, valued at approximately $1,216,243.32. This trade represents a 10.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Marcia Belvin sold 31,492 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $6.42, for a total transaction of $202,178.64. Following the sale, the senior vice president owned 300,760 shares in the company, valued at $1,930,879.20. This trade represents a 9.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 191,063 shares of company stock valued at $1,226,624. Corporate insiders own 6.60% of the company’s stock.

Institutional Trading of CytomX Therapeutics

Several hedge funds have recently bought and sold shares of CTMX. Farther Finance Advisors LLC acquired a new stake in CytomX Therapeutics during the 3rd quarter worth approximately $25,000. Wells Fargo & Company MN raised its holdings in CytomX Therapeutics by 83.2% during the 4th quarter. Wells Fargo & Company MN now owns 6,605 shares of the biotechnology company’s stock worth $28,000 after buying an additional 3,000 shares during the period. Invesco Ltd. acquired a new stake in CytomX Therapeutics during the 2nd quarter worth approximately $32,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in CytomX Therapeutics during the 3rd quarter worth approximately $34,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in CytomX Therapeutics during the 4th quarter worth approximately $35,000. 67.77% of the stock is currently owned by institutional investors and hedge funds.

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.