Wedbush Reiterates “Outperform” Rating for CytomX Therapeutics (NASDAQ:CTMX)

CytomX Therapeutics (NASDAQ:CTMX)‘s stock had its “outperform” rating reissued by stock analysts at Wedbush in a note issued to investors on Friday,RTT News reports. They currently have a $5.00 target price on the biotechnology company’s stock.

Separately, HC Wainwright reissued a “neutral” rating on shares of CytomX Therapeutics in a report on Friday. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, CytomX Therapeutics presently has a consensus rating of “Hold” and a consensus target price of $5.02.

CytomX Therapeutics Stock Up 7.7 %

Shares of CTMX stock opened at $0.66 on Friday. CytomX Therapeutics has a twelve month low of $0.60 and a twelve month high of $5.85. The business has a fifty day simple moving average of $0.84 and a 200 day simple moving average of $1.02. The company has a market cap of $52.03 million, a P/E ratio of 3.91 and a beta of 1.05.

CytomX Therapeutics (NASDAQ:CTMX) last posted its quarterly earnings results on Thursday, March 6th. The biotechnology company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.45. The company had revenue of $38.09 million for the quarter, compared to the consensus estimate of $13.53 million. CytomX Therapeutics had a net margin of 10.96% and a negative return on equity of 41.47%. As a group, equities research analysts anticipate that CytomX Therapeutics will post -0.05 earnings per share for the current fiscal year.

Institutional Trading of CytomX Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Miller Financial Services LLC bought a new stake in shares of CytomX Therapeutics in the 4th quarter valued at about $26,000. Traphagen Investment Advisors LLC bought a new stake in CytomX Therapeutics in the fourth quarter valued at approximately $31,000. Algert Global LLC acquired a new stake in CytomX Therapeutics during the 4th quarter valued at approximately $35,000. Velan Capital Investment Management LP bought a new position in CytomX Therapeutics during the 4th quarter worth approximately $36,000. Finally, US Bancorp DE acquired a new position in shares of CytomX Therapeutics in the 3rd quarter worth approximately $40,000. 67.77% of the stock is currently owned by institutional investors and hedge funds.

About CytomX Therapeutics

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.