CytomX Therapeutics (NASDAQ:CTMX) Stock Price Up 6.7% – Should You Buy?

CytomX Therapeutics, Inc. (NASDAQ:CTMX)’s stock price rose 6.7% on Tuesday . The stock traded as high as $3.52 and last traded at $3.5850. Approximately 811,607 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 4,810,700 shares. The stock had previously closed at $3.36.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. JPMorgan Chase & Co. decreased their price target on CytomX Therapeutics from $12.00 to $11.00 and set an “overweight” rating on the stock in a research note on Thursday, August 13th. HC Wainwright reduced their price objective on shares of CytomX Therapeutics from $17.00 to $11.00 and set a “buy” rating on the stock in a report on Monday, May 11th. Guggenheim decreased their target price on shares of CytomX Therapeutics from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Monday, August 10th. Wolfe Research initiated coverage on shares of CytomX Therapeutics in a research note on Tuesday, May 19th. They set an “outperform” rating and a $6.00 target price for the company. Finally, Zacks Research cut shares of CytomX Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 19th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.90.

CytomX Therapeutics Trading Up 1.4%

The company has a fifty day moving average of $3.48 and a 200-day moving average of $3.98. The stock has a market cap of $810.59 million, a PE ratio of -7.44 and a beta of 2.14.

CytomX Therapeutics (NASDAQ:CTMX) last released its earnings results on Thursday, August 6th. The biotechnology company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.01). The firm had revenue of $1.42 million during the quarter, compared to analyst estimates of $12.39 million. CytomX Therapeutics had a negative net margin of 435.21% and a negative return on equity of 38.46%. As a group, research analysts anticipate that CytomX Therapeutics, Inc. will post -0.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CytomX Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in CytomX Therapeutics in the 2nd quarter valued at approximately $65,849,000. Bank of America Corp DE purchased a new stake in shares of CytomX Therapeutics during the second quarter worth $56,560,000. Perceptive Advisors LLC increased its position in shares of CytomX Therapeutics by 4.3% during the first quarter. Perceptive Advisors LLC now owns 10,098,824 shares of the biotechnology company’s stock worth $47,464,000 after acquiring an additional 418,639 shares during the period. Orbimed Advisors LLC acquired a new stake in shares of CytomX Therapeutics in the second quarter valued at $19,208,000. Finally, Commodore Capital LP purchased a new position in CytomX Therapeutics in the second quarter valued at $17,462,000. 67.77% of the stock is currently owned by institutional investors and hedge funds.

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.