CytomX Therapeutics (NASDAQ:CTMX) Earns Outperform Rating from Wedbush

CytomX Therapeutics (NASDAQ:CTMX)‘s stock had its “outperform” rating reaffirmed by research analysts at Wedbush in a research note issued on Friday,RTT News reports. They currently have a $5.00 price objective on the biotechnology company’s stock.

Separately, HC Wainwright reissued a “neutral” rating on shares of CytomX Therapeutics in a research report on Friday. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $5.02.

CytomX Therapeutics Price Performance

CytomX Therapeutics stock traded up $0.07 during trading hours on Friday, reaching $0.69. The stock had a trading volume of 44,757,827 shares, compared to its average volume of 2,577,548. The company has a fifty day simple moving average of $0.85 and a 200-day simple moving average of $1.03. CytomX Therapeutics has a 52 week low of $0.60 and a 52 week high of $5.85. The stock has a market cap of $53.92 million, a PE ratio of 4.05 and a beta of 1.01.

CytomX Therapeutics (NASDAQ:CTMX) last released its quarterly earnings results on Thursday, March 6th. The biotechnology company reported $0.22 earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.45. CytomX Therapeutics had a net margin of 10.96% and a negative return on equity of 41.47%. The business had revenue of $38.09 million for the quarter, compared to analysts’ expectations of $13.53 million. Research analysts predict that CytomX Therapeutics will post -0.05 earnings per share for the current fiscal year.

Institutional Trading of CytomX Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC raised its position in CytomX Therapeutics by 17.3% in the 3rd quarter. FMR LLC now owns 284,307 shares of the biotechnology company’s stock worth $335,000 after buying an additional 41,949 shares during the last quarter. Geode Capital Management LLC boosted its position in CytomX Therapeutics by 4.4% in the third quarter. Geode Capital Management LLC now owns 803,531 shares of the biotechnology company’s stock worth $948,000 after purchasing an additional 34,032 shares during the last quarter. US Bancorp DE bought a new stake in CytomX Therapeutics during the third quarter valued at approximately $40,000. Virtu Financial LLC bought a new position in CytomX Therapeutics in the 3rd quarter worth $104,000. Finally, Traphagen Investment Advisors LLC purchased a new position in CytomX Therapeutics during the fourth quarter valued at $31,000. Institutional investors own 67.77% of the company’s stock.

About CytomX Therapeutics

CytomX Therapeutics, Inc, an oncology-focused biopharmaceutical company, focuses on developing novel conditionally activated biologics localized to the tumor microenvironment. The company utilizes conditional activation platform technology for oncology biologics research and development comprising the validation of targets for antibody-drug conjugates (ADCs), opening therapeutic window for novel T-cell engagers (TCEs) targeting solid tumors, and increasing the therapeutic index for immune modulators, such as cytokines; and PROBODY platform in preclinical research in areas outside of oncology.