CytomX Therapeutics (NASDAQ:CTMX) Given New $12.00 Price Target at Wedbush

CytomX Therapeutics (NASDAQ:CTMX) had its price objective hoisted by Wedbush from $11.00 to $12.00 in a research report released on Friday,Benzinga reports. Wedbush currently has an outperform rating on the biotechnology company’s stock.

CTMX has been the subject of a number of other reports. JPMorgan Chase & Co. decreased their target price on CytomX Therapeutics from $12.00 to $11.00 and set an “overweight” rating for the company in a research report on Thursday, August 13th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of CytomX Therapeutics in a research report on Friday, September 11th. Zacks Research downgraded CytomX Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 19th. Wall Street Zen lowered CytomX Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday, August 23rd. Finally, Guggenheim decreased their price objective on CytomX Therapeutics from $15.00 to $14.00 and set a “buy” rating for the company in a report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $12.00.

CytomX Therapeutics Stock Performance

CTMX traded up $0.05 during midday trading on Friday, reaching $2.19. The company had a trading volume of 2,727,216 shares, compared to its average volume of 3,937,045. The stock has a market cap of $477.20 million, a PE ratio of -4.38 and a beta of 2.23. CytomX Therapeutics has a 12-month low of $2.11 and a 12-month high of $8.21. The business has a 50-day moving average price of $2.71 and a two-hundred day moving average price of $3.81.

CytomX Therapeutics (NASDAQ:CTMX) last issued its quarterly earnings results on Thursday, November 5th. The biotechnology company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.02). The company had revenue of $1.69 million for the quarter, compared to analysts’ expectations of $10.38 million. CytomX Therapeutics had a negative return on equity of 38.46% and a negative net margin of 435.21%. On average, research analysts anticipate that CytomX Therapeutics will post -0.40 earnings per share for the current year.

Institutional Inflows and Outflows

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

CytomX Therapeutics News Roundup

Here are the key news stories impacting CytomX Therapeutics this week:

• Positive Sentiment: Wedbush raised its price target to $12 from $11 and maintained an Outperform rating, signaling continued optimism about CytomX’s prospects. Wedbush Raises Price Target
• Positive Sentiment: Varseta-M reported 20%–32% objective response rates and a seven-month median progression-free survival in late-line colorectal cancer. The program has FDA Fast Track designation, with pivotal-trial initiation planned for the first half of 2027. The company also had $367 million in cash and potential partnership milestones, although those milestones are contingent on future development and commercial progress. CytomX Stock Trading Near Cash Value
• Negative Sentiment: Third-quarter revenue was $1.69 million, well below analyst expectations of $10.38 million. CytomX reported a loss of $0.09 per share; one report characterized this as a $0.02-per-share miss against its consensus estimate. The revenue shortfall and continuing losses may weigh on sentiment. CytomX Q3 Results
• Negative Sentiment: The clinical-program outlook carries execution risk, and the cited analysis notes prior dilution and terminated legacy partnerships as concerns that have pressured revenue. CytomX Stock Trading Near Cash Value

About CytomX Therapeutics

CytomX Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing cancer medicines designed to be activated selectively within the tumor microenvironment. The company’s approach is intended to improve the precision of treatment by limiting activity in healthy tissues while enabling therapeutic effects at tumor sites.

CytomX’s research is based on its Probody therapeutic platform, which uses molecular masking and tumor-associated protease activity to conditionally activate antibody-based medicines.