CytomX Therapeutics (NASDAQ:CTMX) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of CytomX Therapeutics (NASDAQ:CTMX) from a sell rating to a hold rating in a research report sent to investors on Saturday morning.

Other equities analysts also recently issued research reports about the company. HC Wainwright dropped their target price on CytomX Therapeutics from $17.00 to $11.00 and set a “buy” rating on the stock in a report on Monday, May 11th. Zacks Research upgraded shares of CytomX Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 21st. JPMorgan Chase & Co. decreased their price target on shares of CytomX Therapeutics from $12.00 to $11.00 and set an “overweight” rating for the company in a report on Thursday. Wolfe Research assumed coverage on shares of CytomX Therapeutics in a research report on Tuesday, May 19th. They set an “outperform” rating and a $6.00 price objective on the stock. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of CytomX Therapeutics in a research note on Tuesday, June 16th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, CytomX Therapeutics currently has a consensus rating of “Buy” and an average price target of $11.90.

CytomX Therapeutics Trading Up 0.3%

Shares of CTMX stock opened at $3.36 on Friday. CytomX Therapeutics has a 1-year low of $1.77 and a 1-year high of $8.21. The company has a market capitalization of $732.14 million, a price-to-earnings ratio of -6.72 and a beta of 2.12. The stock’s fifty day simple moving average is $3.37 and its 200-day simple moving average is $4.20.

CytomX Therapeutics (NASDAQ:CTMX) last announced its quarterly earnings data on Thursday, August 6th. The biotechnology company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.01). CytomX Therapeutics had a negative return on equity of 38.46% and a negative net margin of 435.21%.The business had revenue of $1.42 million during the quarter, compared to analysts’ expectations of $12.39 million. On average, sell-side analysts predict that CytomX Therapeutics will post -0.4 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Wells Fargo & Company MN raised its stake in shares of CytomX Therapeutics by 83.2% in the fourth quarter. Wells Fargo & Company MN now owns 6,605 shares of the biotechnology company’s stock worth $28,000 after acquiring an additional 3,000 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of CytomX Therapeutics in the 4th quarter valued at $35,000. Lido Advisors LLC bought a new position in CytomX Therapeutics during the first quarter worth about $49,000. May Hill Capital LLC bought a new position in CytomX Therapeutics during the 4th quarter worth approximately $46,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. bought a new position in shares of CytomX Therapeutics during the first quarter worth $52,000. 67.77% of the stock is owned by 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.