Analysts Set CytomX Therapeutics, Inc. (NASDAQ:CTMX) Target Price at $5.77

CytomX Therapeutics, Inc. (NASDAQ:CTMX) has received an average rating of “Moderate Buy” from the six analysts that are covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $5.77.

CTMX has been the topic of several research analyst reports. StockNews.com downgraded CytomX Therapeutics from a “buy” rating to a “hold” rating in a research report on Monday, June 17th. Piper Sandler raised shares of CytomX Therapeutics from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $2.25 to $3.50 in a research note on Tuesday, May 28th. Finally, HC Wainwright reiterated a “neutral” rating on shares of CytomX Therapeutics in a report on Friday.

CytomX Therapeutics Trading Down 1.6 %

Shares of CTMX opened at $1.23 on Wednesday. The company’s fifty day simple moving average is $1.28 and its 200-day simple moving average is $1.76. The company has a market cap of $96.09 million, a P/E ratio of 6.15 and a beta of 1.03. CytomX Therapeutics has a twelve month low of $1.04 and a twelve month high of $5.85.

CytomX Therapeutics (NASDAQ:CTMX) last posted its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). CytomX Therapeutics had a negative return on equity of 27.44% and a net margin of 9.27%. The firm had revenue of $25.12 million during the quarter, compared to analysts’ expectations of $21.79 million. During the same period last year, the company earned ($0.02) earnings per share. Analysts predict that CytomX Therapeutics will post -0.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CTMX. SG Americas Securities LLC bought a new stake in CytomX Therapeutics during the 1st quarter valued at $57,000. Acadian Asset Management LLC lifted its stake in shares of CytomX Therapeutics by 1.4% during the 2nd quarter. Acadian Asset Management LLC now owns 2,728,569 shares of the biotechnology company’s stock worth $3,324,000 after purchasing an additional 37,739 shares during the last quarter. Cubist Systematic Strategies LLC boosted its position in CytomX Therapeutics by 96.6% during the second quarter. Cubist Systematic Strategies LLC now owns 82,054 shares of the biotechnology company’s stock valued at $100,000 after purchasing an additional 40,309 shares in the last quarter. Forefront Analytics LLC grew its stake in CytomX Therapeutics by 206.7% in the second quarter. Forefront Analytics LLC now owns 64,065 shares of the biotechnology company’s stock valued at $78,000 after purchasing an additional 43,176 shares during the last quarter. Finally, XTX Topco Ltd raised its holdings in CytomX Therapeutics by 382.6% in the second quarter. XTX Topco Ltd now owns 60,586 shares of the biotechnology company’s stock worth $74,000 after purchasing an additional 48,033 shares in the last quarter. 67.77% of the stock is currently owned by institutional investors.

CytomX Therapeutics Company Profile

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.