CytomX Therapeutics (NASDAQ:CTMX) Lifted to Outperform at Wedbush

CytomX Therapeutics (NASDAQ:CTMX) was upgraded by equities researchers at Wedbush from a “neutral” rating to an “outperform” rating in a report issued on Thursday, Briefing.com reports. The brokerage presently has a $8.00 price objective on the biotechnology company’s stock. Wedbush’s target price would suggest a potential upside of 90.93% from the company’s previous close.

A number of other research analysts also recently issued reports on CTMX. BMO Capital Markets reiterated a “market perform” rating and set a $3.25 price objective on shares of CytomX Therapeutics in a research note on Wednesday, May 1st. Jefferies Financial Group upgraded CytomX Therapeutics from a “hold” rating to a “buy” rating and boosted their price objective for the company from $2.50 to $8.00 in a research report on Monday. StockNews.com cut CytomX Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, April 23rd. Finally, JPMorgan Chase & Co. raised shares of CytomX Therapeutics from an “underweight” rating to a “neutral” rating in a research note on Monday, April 22nd. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $6.42.

CytomX Therapeutics Trading Up 2.9 %

CTMX opened at $4.19 on Thursday. CytomX Therapeutics has a 12-month low of $1.04 and a 12-month high of $5.85. The company has a market cap of $285.50 million, a price-to-earnings ratio of -209.50 and a beta of 1.09. The company’s 50 day moving average is $2.38 and its 200 day moving average is $1.78.

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 analysts’ consensus estimates of $0.02 by ($0.01). The firm had revenue of $26.61 million for the quarter, compared to analysts’ expectations of $23.36 million. As a group, analysts predict that CytomX Therapeutics will post -0.25 EPS 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 stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $2.09, for a total transaction of $42,266.07. Following the completion of the transaction, the chief executive officer now owns 524,481 shares in the company, valued at $1,096,165.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders sold 35,024 shares of company stock valued at $73,200. 7.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CytomX Therapeutics

Large investors have recently modified their holdings of the stock. AlphaMark Advisors LLC boosted its stake in CytomX Therapeutics by 119.8% during the fourth quarter. AlphaMark Advisors LLC now owns 23,183 shares of the biotechnology company’s stock worth $36,000 after buying an additional 12,635 shares during the period. SG Americas Securities LLC bought a new position in CytomX Therapeutics during the 1st quarter valued at about $57,000. Susquehanna Fundamental Investments LLC purchased a new stake in CytomX Therapeutics in the 1st quarter worth about $124,000. Bank of New York Mellon Corp lifted its stake 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 worth $344,000 after purchasing an additional 234,970 shares during the last quarter. Finally, Congress Park Capital LLC boosted its position in shares of CytomX Therapeutics by 112.8% during the fourth quarter. Congress Park Capital LLC now owns 239,300 shares of the biotechnology company’s stock valued at $371,000 after buying an additional 126,850 shares during the period. Institutional investors 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.