CytomX Therapeutics (NASDAQ:CTMX) Trading Up 5.4% – Here’s Why

Shares of CytomX Therapeutics, Inc. (NASDAQ:CTMX) traded up 5.4% during mid-day trading on Wednesday . The company traded as high as $4.44 and last traded at $4.4250. 631,028 shares changed hands during trading, a decline of 81% from the average session volume of 3,327,983 shares. The stock had previously closed at $4.20.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CTMX shares. Cantor Fitzgerald assumed coverage on shares of CytomX Therapeutics in a report on Monday, September 22nd. They issued an “overweight” rating and a $6.00 price objective for the company. Wedbush restated an “outperform” rating and issued a $6.00 price objective on shares of CytomX Therapeutics in a report on Friday, November 7th. Barclays lifted their target price on CytomX Therapeutics from $3.50 to $6.00 and gave the stock an “overweight” rating in a report on Tuesday, October 21st. HC Wainwright upped their price target on shares of CytomX Therapeutics from $5.00 to $10.00 and gave the company a “buy” rating in a report on Tuesday, November 11th. Finally, Wall Street Zen cut shares of CytomX Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $6.67.

CytomX Therapeutics Price Performance

The firm’s fifty day moving average is $3.85 and its 200 day moving average is $2.91. The firm has a market capitalization of $751.42 million, a price-to-earnings ratio of 11.11 and a beta of 2.37.

CytomX Therapeutics (NASDAQ:CTMX) last issued its earnings results on Thursday, November 6th. The biotechnology company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.05). CytomX Therapeutics had a net margin of 24.66% and a return on equity of 44.49%. The company had revenue of $5.96 million for the quarter, compared to analyst estimates of $11.50 million. Equities research analysts forecast that CytomX Therapeutics, Inc. will post -0.05 EPS for the current fiscal year.

Institutional Investors Weigh In On CytomX Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in CTMX. Financial Engines Advisors L.L.C. bought a new stake in shares of CytomX Therapeutics in the 3rd quarter valued at approximately $4,407,000. Jacobs Levy Equity Management Inc. bought a new position in CytomX Therapeutics during the third quarter valued at about $162,000. Velan Capital Investment Management LP increased its holdings in shares of CytomX Therapeutics by 6.7% during the 3rd quarter. Velan Capital Investment Management LP now owns 80,000 shares of the biotechnology company’s stock valued at $255,000 after acquiring an additional 5,000 shares during the last quarter. Qube Research & Technologies Ltd acquired a new position in CytomX Therapeutics during the third quarter valued at approximately $391,000. Finally, Prelude Capital Management LLC bought a new position in CytomX Therapeutics in the 3rd quarter worth $659,000. 67.77% of the stock is owned by hedge funds and other institutional investors.

About CytomX Therapeutics

CytomX Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of next-generation therapeutics based on its proprietary Probody® platform. The company engineers masked antibody prodrugs that remain inactive in healthy tissue but are selectively activated in the tumor microenvironment. This approach is designed to enhance the safety and tolerability of antibody-based therapies, particularly those targeting immuno-oncology pathways.

At the core of CytomX’s pipeline is Pacmilimab (CX-072), an anti–PD-L1 Probody therapeutic currently undergoing clinical evaluation for multiple solid tumor indications.