StockNews.com Upgrades CytomX Therapeutics (NASDAQ:CTMX) to “Buy”

StockNews.com upgraded shares of CytomX Therapeutics (NASDAQ:CTMXFree Report) from a hold rating to a buy rating in a research note released on Friday morning.

A number of other equities analysts also recently weighed in on the company. Wedbush upgraded CytomX Therapeutics from a neutral rating to an outperform rating and upped their target price for the company from $3.00 to $8.00 in a report on Thursday, May 9th. JPMorgan Chase & Co. raised CytomX Therapeutics from an underweight rating to a neutral rating in a research report on Monday, April 22nd. Jefferies Financial Group raised CytomX Therapeutics from a hold rating to a buy rating and raised their price target for the stock from $2.50 to $8.00 in a research note on Monday, May 6th. BMO Capital Markets boosted their price target on CytomX Therapeutics from $3.25 to $3.59 and gave the company a market perform rating in a research note on Thursday, May 9th. Finally, HC Wainwright reaffirmed a neutral rating on shares of CytomX Therapeutics in a research report on Thursday, May 9th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $6.53.

View Our Latest Stock Report on CytomX Therapeutics

CytomX Therapeutics Stock Performance

Shares of CTMX stock opened at $1.89 on Friday. The business’s fifty day moving average is $2.36 and its 200-day moving average is $1.79. CytomX Therapeutics has a 1 year low of $1.04 and a 1 year high of $5.85. The stock has a market cap of $147.27 million, a PE ratio of 9.60 and a beta of 1.09.

CytomX Therapeutics (NASDAQ:CTMXGet Free Report) last issued its earnings results on Monday, March 11th. The biotechnology company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.02 by ($0.01). The business had revenue of $26.61 million during the quarter, compared to analyst estimates of $23.36 million. CytomX Therapeutics had a negative return on equity of 30.70% and a net margin of 13.87%. Equities research analysts predict that CytomX Therapeutics will post -0.24 earnings per share for the current year.

Insider Buying and Selling at CytomX Therapeutics

In other news, CEO Sean A. Mccarthy sold 20,223 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $2.09, for a total transaction of $42,266.07. Following the sale, the chief executive officer now directly owns 524,481 shares in the company, valued at $1,096,165.29. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders sold a total of 35,024 shares of company stock valued at $73,200 in the last quarter. Corporate insiders own 7.00% of the company’s stock.

Institutional Investors Weigh In On CytomX Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Congress Park Capital LLC increased its stake in CytomX Therapeutics by 112.8% in the fourth quarter. Congress Park Capital LLC now owns 239,300 shares of the biotechnology company’s stock valued at $371,000 after acquiring an additional 126,850 shares during the period. Bank of New York Mellon Corp grew its stake in shares of CytomX Therapeutics by 737.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 266,836 shares of the biotechnology company’s stock valued at $344,000 after purchasing an additional 234,970 shares during the period. AlphaMark Advisors LLC raised its holdings in shares of CytomX Therapeutics by 119.8% in the 4th quarter. AlphaMark Advisors LLC now owns 23,183 shares of the biotechnology company’s stock worth $36,000 after buying an additional 12,635 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of CytomX Therapeutics during the 1st quarter worth approximately $57,000. Finally, Acadian Asset Management LLC boosted its stake in CytomX Therapeutics by 1.7% in the 1st quarter. Acadian Asset Management LLC now owns 2,690,830 shares of the biotechnology company’s stock valued at $5,863,000 after buying an additional 44,640 shares in the last quarter. Institutional investors own 67.77% of the company’s stock.

CytomX Therapeutics Company Profile

(Get Free Report)

CytomX Therapeutics, Inc, an oncology-focused biopharmaceutical company, focuses on developing novel conditionally activated biologics localized to the tumor microenvironment. The company utilizes conditional activation platform technology for oncology biologics research and development comprising the validation of targets for antibody-drug conjugates (ADCs), opening therapeutic window for novel T-cell engagers (TCEs) targeting solid tumors, and increasing the therapeutic index for immune modulators, such as cytokines; and PROBODY platform in preclinical research in areas outside of oncology.

See Also

Analyst Recommendations for CytomX Therapeutics (NASDAQ:CTMX)

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