CytomX Therapeutics’ (CTMX) “Neutral” Rating Reaffirmed at HC Wainwright

HC Wainwright reaffirmed their neutral rating on shares of CytomX Therapeutics (NASDAQ:CTMX) in a report released on Thursday morning, Benzinga reports.

Several other brokerages have also recently commented on CTMX. Wedbush upgraded shares of CytomX Therapeutics from a neutral rating to an outperform rating and raised their target price for the stock from $3.00 to $8.00 in a report on Thursday, May 9th. StockNews.com cut shares of CytomX Therapeutics from a buy rating to a hold rating in a research report on Monday, June 17th. BMO Capital Markets increased their target price on CytomX Therapeutics from $3.25 to $3.59 and gave the company a market perform rating in a report on Thursday, May 9th. Jefferies Financial Group upgraded CytomX Therapeutics from a hold rating to a buy rating and lifted their price target for the company from $2.50 to $8.00 in a report on Monday, May 6th. Finally, JPMorgan Chase & Co. raised CytomX Therapeutics from an underweight rating to a neutral rating in a research note on Monday, April 22nd. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, CytomX Therapeutics currently has a consensus rating of Hold and a consensus price target of $5.77.

CytomX Therapeutics Price Performance

CTMX stock opened at $1.22 on Thursday. The firm has a market cap of $95.06 million, a PE ratio of 6.10 and a beta of 1.14. CytomX Therapeutics has a 12 month low of $1.04 and a 12 month high of $5.85. The firm has a 50 day simple moving average of $1.97 and a 200 day simple moving average of $1.87.

CytomX Therapeutics (NASDAQ:CTMX) last released its quarterly earnings data on Wednesday, May 8th. The biotechnology company reported $0.17 earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.23. The business had revenue of $41.46 million during the quarter, compared to analyst estimates of $23.40 million. CytomX Therapeutics had a negative return on equity of 30.70% and a net margin of 13.87%. As a group, sell-side analysts expect that CytomX Therapeutics will post -0.14 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. AlphaMark Advisors LLC lifted its holdings in shares of CytomX Therapeutics by 119.8% during the 4th quarter. AlphaMark Advisors LLC now owns 23,183 shares of the biotechnology company’s stock valued at $36,000 after buying an additional 12,635 shares during the last quarter. SG Americas Securities LLC bought a new position in CytomX Therapeutics during the first quarter valued at approximately $57,000. Susquehanna Fundamental Investments LLC acquired a new stake in CytomX Therapeutics in the first quarter valued at approximately $124,000. Congress Park Capital LLC grew its position in CytomX Therapeutics by 112.8% in the fourth quarter. Congress Park Capital LLC now owns 239,300 shares of the biotechnology company’s stock worth $371,000 after acquiring an additional 126,850 shares in the last quarter. Finally, Acadian Asset Management LLC increased its stake in shares of CytomX Therapeutics by 1.7% during the 1st quarter. Acadian Asset Management LLC now owns 2,690,830 shares of the biotechnology company’s stock worth $5,863,000 after purchasing an additional 44,640 shares during the last quarter. Hedge funds and other 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.