CytomX Therapeutics, Inc. (NASDAQ:CTMX) Receives Average Rating of “Moderate Buy” from Brokerages

CytomX Therapeutics, Inc. (NASDAQ:CTMX) has earned an average recommendation of “Moderate Buy” from the twelve brokerages that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, nine have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $11.90.

A number of equities analysts recently issued reports on CTMX shares. JPMorgan Chase & Co. dropped their price objective on CytomX Therapeutics from $12.00 to $11.00 and set an “overweight” rating for the company in a report on Thursday, August 13th. Guggenheim reduced their target price on CytomX Therapeutics from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Monday, August 10th. Weiss Ratings reiterated a “sell (d)” rating on shares of CytomX Therapeutics in a research report on Friday, September 11th. Zacks Research lowered shares of CytomX Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 19th. Finally, Wall Street Zen downgraded shares of CytomX Therapeutics from a “hold” rating to a “sell” rating in a research note on Sunday, August 23rd.

CytomX Therapeutics Trading Down 3.3%

Shares of NASDAQ:CTMX opened at $2.63 on Friday. CytomX Therapeutics has a 12 month low of $2.60 and a 12 month high of $8.21. The company has a market capitalization of $573.08 million, a price-to-earnings ratio of -5.26 and a beta of 2.21. The firm’s 50-day moving average is $3.23 and its 200 day moving average is $3.66.

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

Hedge Funds Weigh In On CytomX Therapeutics

Institutional investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in shares of CytomX Therapeutics in the 2nd quarter worth $65,849,000. Bank of America Corp DE bought a new stake in shares of CytomX Therapeutics in the second quarter valued at about $56,560,000. Perceptive Advisors LLC raised its holdings in shares of CytomX Therapeutics by 4.3% in the first quarter. Perceptive Advisors LLC now owns 10,098,824 shares of the biotechnology company’s stock valued at $47,464,000 after acquiring an additional 418,639 shares in the last quarter. Wellington Management Group LLP lifted its stake in CytomX Therapeutics by 44.3% in the second quarter. Wellington Management Group LLP now owns 5,168,961 shares of the biotechnology company’s stock worth $19,384,000 after acquiring an additional 1,585,976 shares during the period. Finally, Elmind Capital LP lifted its stake in CytomX Therapeutics by 550.0% in the first quarter. Elmind Capital LP now owns 4,550,000 shares of the biotechnology company’s stock worth $21,385,000 after acquiring an additional 3,850,000 shares during the period. 67.77% of the stock is owned by hedge funds and other institutional investors.

About CytomX Therapeutics

CytomX Therapeutics, Inc (NASDAQ: CTMX) is a clinical-stage biopharmaceutical company focused on developing cancer therapies designed to selectively activate in the tumor microenvironment. The company’s Probody therapeutic platform uses molecular masking technology intended to limit antibody activity in healthy tissue and enable activation by proteases that are more prevalent in tumors.

CytomX’s pipeline includes investigational therapies spanning several modalities, including Probody drug conjugates, T-cell engagers and cytokine-based treatments.