CytomX Therapeutics (NASDAQ:CTMX) Raised to “Buy” at Jefferies Financial Group

Jefferies Financial Group upgraded shares of CytomX Therapeutics (NASDAQ:CTMX) from a hold rating to a buy rating in a research report sent to investors on Monday, Marketbeat.com reports. The brokerage currently has $8.00 target price on the biotechnology company’s stock, up from their previous target price of $2.50.

Several other equities analysts have also issued reports on CTMX. StockNews.com lowered CytomX Therapeutics from a buy rating to a hold rating in a report on Tuesday, April 23rd. JPMorgan Chase & Co. raised CytomX Therapeutics from an underweight rating to a neutral rating in a report on Monday, April 22nd. Finally, BMO Capital Markets reaffirmed a market perform rating and set a $3.25 price objective on shares of CytomX Therapeutics in a report on Wednesday, May 1st. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of Hold and a consensus price target of $4.75.

CytomX Therapeutics Price Performance

NASDAQ:CTMX opened at $4.19 on Monday. The business’s fifty day moving average price is $2.38 and its 200 day moving average price is $1.78. The firm has a market capitalization of $285.51 million, a PE ratio of -209.40 and a beta of 1.09. CytomX Therapeutics has a 12 month low of $1.04 and a 12 month high of $5.85.

CytomX Therapeutics (NASDAQ:CTMX) last issued its quarterly earnings data 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 business had revenue of $26.61 million during the quarter, compared to the consensus estimate of $23.36 million. As a group, equities analysts anticipate that CytomX Therapeutics will post -0.25 EPS for the current year.

Insider Buying and Selling

In related news, CEO Sean A. Mccarthy sold 20,223 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $2.09, for a total transaction of $42,266.07. Following the transaction, the chief executive officer now owns 524,481 shares of the company’s stock, valued at $1,096,165.29. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold a total of 35,024 shares of company stock valued at $73,200 over the last quarter. 7.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On CytomX Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC acquired a new stake in CytomX Therapeutics in the first quarter valued at about $124,000. SG Americas Securities LLC acquired a new stake in CytomX Therapeutics in the first quarter valued at about $57,000. Congress Park Capital LLC lifted 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 valued at $371,000 after purchasing an additional 126,850 shares during the period. AlphaMark Advisors LLC lifted its position in CytomX Therapeutics by 119.8% in the fourth quarter. AlphaMark Advisors LLC now owns 23,183 shares of the biotechnology company’s stock valued at $36,000 after purchasing an additional 12,635 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in CytomX Therapeutics by 737.4% in the third 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 period. Institutional investors and hedge funds own 67.77% of the company’s stock.

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.