CytomX Therapeutics (NASDAQ:CTMX) Reaches New 12-Month High – Here’s What Happened

Shares of CytomX Therapeutics, Inc. (NASDAQ:CTMX) reached a new 52-week high on Friday . The stock traded as high as $4.70 and last traded at $4.6650, with a volume of 1310020 shares. The stock had previously closed at $4.25.

Analyst Upgrades and Downgrades

CTMX has been the topic of several recent research reports. Barclays upped their price objective on shares of CytomX Therapeutics from $3.50 to $6.00 and gave the company an “overweight” rating in a report on Tuesday, October 21st. Weiss Ratings upgraded shares of CytomX Therapeutics from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, October 8th. Wedbush reiterated an “outperform” rating and issued a $6.00 price objective on shares of CytomX Therapeutics in a research note on Friday, November 7th. Cantor Fitzgerald began coverage on shares of CytomX Therapeutics in a report on Monday, September 22nd. They set an “overweight” rating and a $6.00 target price on the stock. Finally, HC Wainwright increased their target price on CytomX Therapeutics from $5.00 to $10.00 and gave the stock a “buy” rating in a research report on Tuesday, November 11th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $6.67.

CytomX Therapeutics Price Performance

The stock has a market cap of $841.05 million, a P/E ratio of 12.34 and a beta of 2.42. The firm’s fifty day moving average price is $4.09 and its two-hundred day moving average price is $3.12.

CytomX Therapeutics (NASDAQ:CTMX) last released its quarterly earnings results on Thursday, November 6th. The biotechnology company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.05). The business had revenue of $5.96 million during the quarter, compared to analysts’ expectations of $11.50 million. CytomX Therapeutics had a net margin of 24.66% and a return on equity of 44.49%. On average, research analysts expect that CytomX Therapeutics, Inc. will post -0.05 earnings per share for the current fiscal year.

Institutional Trading of CytomX Therapeutics

Hedge funds have recently made changes to their positions in the stock. Farther Finance Advisors LLC purchased a new stake in CytomX Therapeutics during the third quarter valued at about $25,000. Invesco Ltd. purchased a new position in shares of CytomX Therapeutics during the 2nd quarter valued at about $32,000. Pursue Wealth Partners LLC bought a new stake in CytomX Therapeutics in the 2nd quarter worth approximately $33,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in CytomX Therapeutics in the third quarter worth approximately $34,000. Finally, Goldman Sachs Group Inc. bought a new position in CytomX Therapeutics during the first quarter valued at approximately $39,000. 67.77% of the stock is owned by 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.