CytomX Therapeutics (NASDAQ:CTMX) Trading 4.9% Higher – Here’s What Happened

CytomX Therapeutics, Inc. (NASDAQ:CTMX) shares rose 4.9% during mid-day trading on Friday . The company traded as high as $4.70 and last traded at $4.6350. Approximately 790,139 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 6,510,745 shares. The stock had previously closed at $4.42.

Analyst Upgrades and Downgrades

A number of analysts have commented on CTMX shares. Barclays boosted their price target on shares of CytomX Therapeutics from $10.00 to $16.00 and gave the stock an “overweight” rating in a research report on Thursday, March 19th. Oppenheimer reiterated an “outperform” rating and set a $12.00 price objective on shares of CytomX Therapeutics in a research note on Monday, March 16th. Jefferies Financial Group boosted their target price on CytomX Therapeutics from $8.00 to $16.00 and gave the stock a “buy” rating in a report on Wednesday, March 18th. Piper Sandler upped their target price on CytomX Therapeutics from $10.00 to $12.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Guggenheim increased their price target on CytomX Therapeutics from $10.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, March 18th. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, CytomX Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.44.

CytomX Therapeutics Stock Performance

The company has a market capitalization of $812.49 million, a price-to-earnings ratio of -118.88 and a beta of 2.44. The stock’s fifty day simple moving average is $5.29 and its two-hundred day simple moving average is $4.18.

CytomX Therapeutics (NASDAQ:CTMX) last announced its quarterly earnings data on Monday, March 16th. The biotechnology company reported ($0.22) earnings per share (EPS) 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 business had revenue of $0.66 million during the quarter, compared to analyst estimates of $7.33 million. On average, equities analysts anticipate that CytomX Therapeutics, Inc. will post -0.05 EPS for the current fiscal year.

Insider Buying and Selling at CytomX Therapeutics

In other news, CFO Christopher Ogden sold 19,323 shares of the firm’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $6.42, for a total transaction of $124,053.66. Following the completion of the sale, the chief financial officer directly owned 296,948 shares of the company’s stock, valued at $1,906,406.16. This trade represents a 6.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Marcia Belvin sold 31,492 shares of CytomX Therapeutics stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $6.42, for a total value of $202,178.64. Following the completion of the transaction, the senior vice president owned 300,760 shares in the company, valued at $1,930,879.20. The trade was a 9.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 191,063 shares of company stock worth $1,226,624. 6.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CytomX Therapeutics

Several hedge funds have recently modified their holdings of the stock. Farther Finance Advisors LLC acquired a new position in shares of CytomX Therapeutics in the 3rd quarter valued at $25,000. Wells Fargo & Company MN boosted its stake in CytomX Therapeutics by 83.2% in the 4th quarter. Wells Fargo & Company MN now owns 6,605 shares of the biotechnology company’s stock worth $28,000 after purchasing an additional 3,000 shares during the period. Invesco Ltd. acquired a new stake in shares of CytomX Therapeutics in the second quarter worth $32,000. Pursue Wealth Partners LLC acquired a new stake in CytomX Therapeutics during the 2nd quarter worth about $33,000. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new position in CytomX Therapeutics during the 3rd quarter valued at about $34,000. 67.77% of the stock is owned by hedge funds and other institutional investors.

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.