CytomX Therapeutics (NASDAQ:CTMX) Hits New 1-Year High – What’s Next?

CytomX Therapeutics, Inc. (NASDAQ:CTMX)’s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as $3.51 and last traded at $3.42, with a volume of 3909108 shares traded. The stock had previously closed at $3.40.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Weiss Ratings raised CytomX Therapeutics from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, October 8th. Oppenheimer assumed coverage on CytomX Therapeutics in a research report on Thursday, July 31st. They issued an “outperform” rating and a $7.00 target price for the company. Barclays assumed coverage on CytomX Therapeutics in a research report on Wednesday, September 17th. They issued an “overweight” rating and a $3.50 target price for the company. Finally, Cantor Fitzgerald assumed coverage on CytomX Therapeutics in a research report on Monday, September 22nd. They issued an “overweight” rating and a $6.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $5.42.

CytomX Therapeutics Stock Up 0.6%

The stock has a market cap of $563.99 million, a price-to-earnings ratio of 6.11 and a beta of 2.27. The business has a 50-day moving average of $2.40 and a 200-day moving average of $2.00.

Institutional Trading of CytomX Therapeutics

A number of institutional investors have recently bought and sold shares of the company. Assenagon Asset Management S.A. raised its holdings in CytomX Therapeutics by 18.6% during the first quarter. Assenagon Asset Management S.A. now owns 711,454 shares of the biotechnology company’s stock valued at $452,000 after buying an additional 111,604 shares in the last quarter. RA Capital Management L.P. bought a new position in CytomX Therapeutics during the first quarter valued at about $636,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in CytomX Therapeutics during the first quarter valued at about $62,000. Velan Capital Investment Management LP raised its holdings in CytomX Therapeutics by 114.3% during the first quarter. Velan Capital Investment Management LP now owns 75,000 shares of the biotechnology company’s stock valued at $48,000 after buying an additional 40,000 shares in the last quarter. Finally, Acadian Asset Management LLC raised its holdings in CytomX Therapeutics by 3.1% during the first quarter. Acadian Asset Management LLC now owns 3,234,035 shares of the biotechnology company’s stock valued at $2,053,000 after buying an additional 96,989 shares in the last quarter. Institutional investors and hedge funds own 67.77% of the company’s stock.

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.