CytomX Therapeutics (NASDAQ:CTMX) PT Raised to $3.59

CytomX Therapeutics (NASDAQ:CTMX) had its target price raised by equities research analysts at BMO Capital Markets from $3.25 to $3.59 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a “market perform” rating on the biotechnology company’s stock. BMO Capital Markets’ price objective indicates a potential upside of 52.77% from the stock’s current price.

Other equities analysts have also recently issued research reports about the stock. Wedbush raised shares of CytomX Therapeutics from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $3.00 to $8.00 in a research note on Thursday. StockNews.com cut shares of CytomX Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, April 23rd. HC Wainwright restated a “neutral” rating on shares of CytomX Therapeutics in a report on Thursday. Jefferies Financial Group upgraded shares of CytomX Therapeutics from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $2.50 to $8.00 in a report on Monday. Finally, JPMorgan Chase & Co. upgraded shares of CytomX Therapeutics from an “underweight” rating to a “neutral” rating in a report on Monday, April 22nd. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $6.53.

CytomX Therapeutics Trading Down 43.9 %

Shares of CTMX traded down $1.84 during trading hours on Thursday, reaching $2.35. 22,416,162 shares of the stock traded hands, compared to its average volume of 4,136,502. The company has a market cap of $160.12 million, a price-to-earnings ratio of -117.50 and a beta of 1.09. CytomX Therapeutics has a 52 week low of $1.04 and a 52 week high of $5.85. The stock has a fifty day simple moving average of $2.38 and a 200 day simple moving average of $1.78.

CytomX Therapeutics (NASDAQ:CTMX) last posted its quarterly earnings results on Monday, March 11th. The biotechnology company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.01). The firm had revenue of $26.61 million for the quarter, compared to the consensus estimate of $23.36 million. Analysts predict that CytomX Therapeutics will post -0.25 earnings per share for the current fiscal year.

Insider Activity at CytomX Therapeutics

In other CytomX Therapeutics news, CEO Sean A. Mccarthy sold 20,223 shares of the company’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $2.09, for a total value of $42,266.07. Following the completion of the transaction, the chief executive officer now directly owns 524,481 shares in the company, valued at approximately $1,096,165.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 35,024 shares of company stock worth $73,200 in the last three months. 7.00% of the stock is owned by insiders.

Institutional Trading of CytomX Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp grew its position in CytomX Therapeutics by 737.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 266,836 shares of the biotechnology company’s stock valued at $344,000 after purchasing an additional 234,970 shares during the last quarter. Congress Park Capital LLC grew its position in CytomX Therapeutics by 112.8% during the 4th quarter. Congress Park Capital LLC now owns 239,300 shares of the biotechnology company’s stock valued at $371,000 after purchasing an additional 126,850 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in CytomX Therapeutics during the 1st quarter valued at about $124,000. SG Americas Securities LLC purchased a new stake in CytomX Therapeutics during the 1st quarter valued at about $57,000. Finally, AlphaMark Advisors LLC boosted 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 acquiring an additional 12,635 shares during the last quarter. 67.77% of the stock is owned by hedge funds and other 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.