CytomX Therapeutics (NASDAQ:CTMX) Stock Price Up 12% – Time to Buy?

Shares of CytomX Therapeutics, Inc. (NASDAQ:CTMX) were up 12% on Monday . The company traded as high as $4.10 and last traded at $4.0550. Approximately 3,774,623 shares were traded during mid-day trading, an increase of 11% from the average daily volume of 3,389,009 shares. The stock had previously closed at $3.62.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CTMX. Oppenheimer initiated coverage on CytomX Therapeutics in a research note on Thursday, July 31st. They issued an “outperform” rating and a $7.00 price target on the stock. Wedbush reiterated an “outperform” rating and issued a $6.00 target price on shares of CytomX Therapeutics in a research report on Friday. Weiss Ratings raised CytomX Therapeutics from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, October 8th. Barclays raised their price target on shares of CytomX Therapeutics from $3.50 to $6.00 and gave the company an “overweight” rating in a research note on Tuesday, October 21st. Finally, Wall Street Zen cut shares of CytomX Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $5.83.

CytomX Therapeutics Trading Up 15.7%

The firm has a market capitalization of $690.99 million, a price-to-earnings ratio of 7.48 and a beta of 2.29. The firm’s 50-day moving average is $2.95 and its 200 day moving average is $2.40.

CytomX Therapeutics (NASDAQ:CTMX) last released its quarterly earnings results on Thursday, November 6th. The biotechnology company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.05). The business had revenue of $5.96 million for the quarter, compared to the consensus estimate of $11.50 million. CytomX Therapeutics had a net margin of 34.04% and a return on equity of 158.70%. Analysts predict that CytomX Therapeutics, Inc. will post -0.05 EPS for the current year.

Hedge Funds Weigh In On CytomX Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in CTMX. Miller Financial Services LLC boosted its holdings in CytomX Therapeutics by 104.0% in the first quarter. Miller Financial Services LLC now owns 51,000 shares of the biotechnology company’s stock worth $32,000 after acquiring an additional 26,000 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of CytomX Therapeutics during the first quarter worth approximately $62,000. Forefront Analytics LLC lifted its holdings in shares of CytomX Therapeutics by 55.7% in the 1st quarter. Forefront Analytics LLC now owns 100,070 shares of the biotechnology company’s stock worth $63,000 after purchasing an additional 35,811 shares in the last quarter. Aspire Growth Partners LLC grew its position in CytomX Therapeutics by 126.2% in the 1st quarter. Aspire Growth Partners LLC now owns 92,254 shares of the biotechnology company’s stock valued at $59,000 after purchasing an additional 51,474 shares during the period. Finally, Velan Capital Investment Management LP grew its position in CytomX Therapeutics by 114.3% in the 1st quarter. Velan Capital Investment Management LP now owns 75,000 shares of the biotechnology company’s stock valued at $48,000 after purchasing an additional 40,000 shares during the period. 67.77% of the stock is 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.