CytomX Therapeutics (NASDAQ:CTMX) Now Covered by Piper Sandler

Piper Sandler began coverage on shares of CytomX Therapeutics (NASDAQ:CTMX) in a research report released on Monday morning, Marketbeat.com reports. The brokerage issued an overweight rating and a $2.50 price objective on the biotechnology company’s stock.

Several other brokerages have also issued reports on CTMX. StockNews.com lowered CytomX Therapeutics from a “buy” rating to a “hold” rating in a research report on Monday, March 31st. HC Wainwright reaffirmed a “neutral” rating on shares of CytomX Therapeutics in a research report on Friday, March 7th. Finally, Wedbush reiterated an “outperform” rating and set a $5.00 target price on shares of CytomX Therapeutics in a research report on Friday, March 7th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, CytomX Therapeutics has a consensus rating of “Hold” and an average price target of $4.77.

CytomX Therapeutics Stock Performance

NASDAQ:CTMX opened at $0.63 on Monday. The firm has a market capitalization of $50.44 million, a PE ratio of 3.70 and a beta of 1.34. The stock’s fifty day moving average is $0.64 and its 200 day moving average is $0.89. CytomX Therapeutics has a fifty-two week low of $0.40 and a fifty-two week high of $5.85.

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. FMR LLC lifted its position in shares of CytomX Therapeutics by 17.3% during the third quarter. FMR LLC now owns 284,307 shares of the biotechnology company’s stock valued at $335,000 after buying an additional 41,949 shares during the last quarter. Geode Capital Management LLC increased its position in CytomX Therapeutics by 4.4% during the 3rd quarter. Geode Capital Management LLC now owns 803,531 shares of the biotechnology company’s stock valued at $948,000 after buying an additional 34,032 shares in the last quarter. Virtu Financial LLC purchased a new stake in CytomX Therapeutics in the third quarter valued at about $104,000. Traphagen Investment Advisors LLC acquired a new stake in CytomX Therapeutics in the fourth quarter worth about $31,000. Finally, Miller Financial Services LLC purchased a new stake in shares of CytomX Therapeutics during the fourth quarter worth about $26,000. Hedge funds and other institutional investors own 67.77% of the company’s stock.

CytomX Therapeutics Company Profile

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.