CytomX Therapeutics (NASDAQ:CTMX) Upgraded to Strong-Buy at Zacks Research

Zacks Research upgraded shares of CytomX Therapeutics (NASDAQ:CTMX) from a hold rating to a strong-buy rating in a research report sent to investors on Tuesday,Zacks.com reports.

Other equities research analysts have also recently issued research reports about the stock. Wolfe Research assumed coverage on shares of CytomX Therapeutics in a research report on Tuesday, May 19th. They issued an “outperform” rating and a $6.00 target price for the company. HC Wainwright lowered their price target on shares of CytomX Therapeutics from $17.00 to $11.00 and set a “buy” rating on the stock in a research report on Monday, May 11th. Piper Sandler lifted their price objective on shares of CytomX Therapeutics from $10.00 to $12.00 and gave the stock an “overweight” rating in a research note on Monday, March 23rd. Wall Street Zen upgraded shares of CytomX Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of CytomX Therapeutics in a report on Tuesday, June 16th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $12.10.

CytomX Therapeutics Trading Down 2.6%

NASDAQ:CTMX opened at $3.33 on Tuesday. The stock has a market cap of $566.73 million, a P/E ratio of -8.12 and a beta of 2.08. The stock has a 50 day simple moving average of $3.45 and a 200 day simple moving average of $4.36. CytomX Therapeutics has a 1-year low of $1.72 and a 1-year high of $8.21.

CytomX Therapeutics (NASDAQ:CTMX) last issued its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.04. The firm had revenue of $10.26 million for the quarter, compared to analyst estimates of $4.68 million. CytomX Therapeutics had a negative return on equity of 36.61% and a negative net margin of 166.40%. As a group, sell-side analysts forecast that CytomX Therapeutics will post -0.45 EPS for the current year.

Institutional Trading of CytomX Therapeutics

A number of institutional investors have recently modified their holdings of CTMX. Wells Fargo & Company MN increased its position in shares of CytomX Therapeutics by 83.2% in the fourth quarter. Wells Fargo & Company MN now owns 6,605 shares of the biotechnology company’s stock worth $28,000 after purchasing an additional 3,000 shares during the period. Invesco Ltd. bought a new stake in CytomX Therapeutics during the second quarter worth about $32,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in CytomX Therapeutics during the fourth quarter worth about $35,000. Goldman Sachs Group Inc. acquired a new stake in CytomX Therapeutics during the first quarter worth about $39,000. Finally, May Hill Capital LLC acquired a new stake in CytomX Therapeutics during the fourth quarter worth about $46,000. 67.77% of the stock is currently owned by institutional investors.

CytomX Therapeutics Company Profile

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.