CytomX Therapeutics (NASDAQ:CTMX) Sets New 12-Month High – Here’s What Happened

CytomX Therapeutics, Inc. (NASDAQ:CTMX) hit a new 52-week high on Thursday . The company traded as high as $6.15 and last traded at $5.8270, with a volume of 1467627 shares trading hands. The stock had previously closed at $5.29.

Wall Street Analyst Weigh In

CTMX has been the subject of a number of recent analyst reports. HC Wainwright raised their price target on shares of CytomX Therapeutics from $5.00 to $10.00 and gave the stock a “buy” rating in a research report on Tuesday, November 11th. Wall Street Zen downgraded shares of CytomX Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Piper Sandler boosted their target price on shares of CytomX Therapeutics from $6.50 to $10.00 and gave the stock an “overweight” rating in a research report on Tuesday. Guggenheim started coverage on shares of CytomX Therapeutics in a research note on Tuesday. They issued a “buy” rating and a $10.00 target price on the stock. Finally, Wedbush reiterated an “outperform” rating and issued a $6.00 price target on shares of CytomX Therapeutics in a research note on Friday, November 7th. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $8.14.

CytomX Therapeutics Price Performance

The company has a fifty day moving average price of $4.19 and a 200 day moving average price of $3.21. The company has a market capitalization of $986.93 million, a P/E ratio of 14.59 and a beta of 2.42.

CytomX Therapeutics (NASDAQ:CTMX) last announced its quarterly earnings results on Thursday, November 6th. The biotechnology company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.05). The company had revenue of $5.96 million during the quarter, compared to the consensus estimate of $11.50 million. CytomX Therapeutics had a return on equity of 44.49% and a net margin of 24.66%. On average, equities research analysts predict that CytomX Therapeutics, Inc. will post -0.05 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CytomX Therapeutics

Several institutional investors have recently modified their holdings of CTMX. Precision Wealth Strategies LLC acquired a new stake in CytomX Therapeutics in the 3rd quarter valued at approximately $756,000. Inspire Investing LLC acquired a new position in CytomX Therapeutics during the 3rd quarter worth $1,667,000. Vivo Capital LLC bought a new position in shares of CytomX Therapeutics in the second quarter worth $13,096,000. Franklin Resources Inc. acquired a new position in shares of CytomX Therapeutics during the second quarter valued at $13,096,000. Finally, Pursue Wealth Partners LLC acquired a new position in shares of CytomX Therapeutics during the second quarter valued at $33,000. Institutional investors own 67.77% of the company’s stock.

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.