JPMorgan Chase & Co. Cuts CytomX Therapeutics (NASDAQ:CTMX) Price Target to $11.00

CytomX Therapeutics (NASDAQ:CTMX) had its price objective decreased by equities research analysts at JPMorgan Chase & Co. from $12.00 to $11.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the biotechnology company’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 227.19% from the company’s previous close.

Several other research analysts have also commented on CTMX. Guggenheim cut their price target on CytomX Therapeutics from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Monday. HC Wainwright lowered their target price on shares of CytomX Therapeutics from $17.00 to $11.00 and set a “buy” rating on the stock in a research report on Monday, May 11th. Wolfe Research started coverage on shares of CytomX Therapeutics in a report on Tuesday, May 19th. They issued an “outperform” rating and a $6.00 target price on the stock. Zacks Research raised shares of CytomX Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 21st. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of CytomX Therapeutics in a research report on Tuesday, June 16th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $11.90.

CytomX Therapeutics Stock Performance

Shares of CTMX stock traded down $0.13 during mid-day trading on Thursday, hitting $3.36. 396,382 shares of the stock were exchanged, compared to its average volume of 4,990,099. The stock’s fifty day simple moving average is $3.36 and its two-hundred day simple moving average is $4.22. The stock has a market capitalization of $572.18 million, a price-to-earnings ratio of -6.71 and a beta of 2.12. CytomX Therapeutics has a 12-month low of $1.72 and a 12-month high of $8.21.

CytomX Therapeutics (NASDAQ:CTMX) last posted its earnings results on Thursday, August 6th. The biotechnology company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.01). CytomX Therapeutics had a negative net margin of 435.21% and a negative return on equity of 38.46%. The firm had revenue of $1.42 million during the quarter, compared to analysts’ expectations of $12.39 million. On average, research analysts expect that CytomX Therapeutics will post -0.4 earnings per share for the current fiscal year.

Institutional Trading of CytomX Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN lifted its position in CytomX Therapeutics by 83.2% during the 4th quarter. Wells Fargo & Company MN now owns 6,605 shares of the biotechnology company’s stock worth $28,000 after acquiring an additional 3,000 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of CytomX Therapeutics in the fourth quarter valued at approximately $35,000. Lido Advisors LLC purchased a new stake in shares of CytomX Therapeutics during the first quarter worth approximately $49,000. May Hill Capital LLC purchased a new stake in shares of CytomX Therapeutics during the fourth quarter worth approximately $46,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. acquired a new stake in shares of CytomX Therapeutics during the first quarter worth $52,000. 67.77% of the stock is owned by hedge funds and other institutional investors.

CytomX Therapeutics Company Profile

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.