Analysts Set CytomX Therapeutics, Inc. (NASDAQ:CTMX) Price Target at $11.90

CytomX Therapeutics, Inc. (NASDAQ:CTMX) has been given an average recommendation of “Moderate Buy” by the twelve research firms that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $11.90.

Several equities research analysts have recently weighed in on the company. Guggenheim reduced their price objective on CytomX Therapeutics from $15.00 to $14.00 and set a “buy” rating for the company in a research note on Monday, August 10th. Zacks Research cut CytomX Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 19th. Wolfe Research started coverage on shares of CytomX Therapeutics in a research note on Tuesday, May 19th. They set an “outperform” rating and a $6.00 price objective for the company. Wall Street Zen downgraded shares of CytomX Therapeutics from a “hold” rating to a “sell” rating in a research report on Sunday, August 23rd. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of CytomX Therapeutics in a research note on Tuesday, June 16th.

CytomX Therapeutics Trading Down 1.6%

Shares of CytomX Therapeutics stock opened at $3.65 on Wednesday. CytomX Therapeutics has a 52 week low of $1.90 and a 52 week high of $8.21. The stock has a market cap of $795.34 million, a PE ratio of -7.30 and a beta of 2.14. The company’s 50-day moving average price is $3.49 and its two-hundred day moving average price is $3.93.

CytomX Therapeutics (NASDAQ:CTMX) last released its earnings results on Thursday, August 6th. The biotechnology company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.01). The business had revenue of $1.42 million for 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%. On average, equities analysts predict that CytomX Therapeutics will post -0.4 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in CytomX Therapeutics during the 2nd quarter worth about $65,849,000. Bank of America Corp DE purchased a new stake in shares of CytomX Therapeutics in the second quarter worth approximately $56,560,000. Orbimed Advisors LLC purchased a new stake in shares of CytomX Therapeutics in the second quarter worth approximately $19,208,000. Commodore Capital LP acquired a new stake in shares of CytomX Therapeutics during the second quarter worth approximately $17,462,000. Finally, Perceptive Advisors LLC acquired a new stake in shares of CytomX Therapeutics during the second quarter worth approximately $15,876,000. 67.77% of the stock is 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.