CytomX Therapeutics, Inc. (NASDAQ:CTMX) Given Consensus Recommendation of “Moderate Buy” by Brokerages

CytomX Therapeutics, Inc. (NASDAQ:CTMX) has been given a consensus rating of “Moderate Buy” by the six ratings firms that are presently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $5.77.

CTMX has been the subject of several recent research reports. HC Wainwright reissued a “neutral” rating on shares of CytomX Therapeutics in a research report on Friday, September 13th. StockNews.com cut shares of CytomX Therapeutics from a “buy” rating to a “hold” rating in a research report on Monday, June 17th. Finally, Piper Sandler upgraded shares of CytomX Therapeutics from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $2.25 to $3.50 in a research note on Tuesday, May 28th.

CytomX Therapeutics Stock Performance

CytomX Therapeutics stock opened at $1.21 on Wednesday. CytomX Therapeutics has a fifty-two week low of $1.04 and a fifty-two week high of $5.85. The firm has a 50 day moving average price of $1.28 and a 200 day moving average price of $1.74. The company has a market capitalization of $94.28 million, a PE ratio of 6.05 and a beta of 1.03.

CytomX Therapeutics (NASDAQ:CTMX) last issued its quarterly earnings results on Thursday, August 8th. The biotechnology company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.01). CytomX Therapeutics had a net margin of 9.27% and a negative return on equity of 27.44%. The business had revenue of $25.12 million during the quarter, compared to analysts’ expectations of $21.79 million. During the same period in the prior year, the business earned ($0.02) EPS. As a group, equities research analysts forecast that CytomX Therapeutics will post -0.2 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC acquired a new position in CytomX Therapeutics in the first quarter valued at $57,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of CytomX Therapeutics during the first quarter worth about $124,000. XTX Topco Ltd increased its stake in shares of CytomX Therapeutics by 382.6% during the second quarter. XTX Topco Ltd now owns 60,586 shares of the biotechnology company’s stock worth $74,000 after acquiring an additional 48,033 shares during the period. Forefront Analytics LLC increased its stake in shares of CytomX Therapeutics by 206.7% during the second quarter. Forefront Analytics LLC now owns 64,065 shares of the biotechnology company’s stock worth $78,000 after acquiring an additional 43,176 shares during the period. Finally, Cubist Systematic Strategies LLC increased its stake in shares of CytomX Therapeutics by 96.6% during the second quarter. Cubist Systematic Strategies LLC now owns 82,054 shares of the biotechnology company’s stock worth $100,000 after acquiring an additional 40,309 shares during the period. 67.77% of the stock is currently owned by institutional investors and hedge funds.

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.