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 note published on Monday, Marketbeat.com reports. They currently have $8.00 price target on the biotechnology company’s stock, up from their previous price target of $2.50.

Several other equities research analysts have also recently weighed in on CTMX. JPMorgan Chase & Co. upgraded CytomX Therapeutics from an underweight rating to a neutral rating in a report on Monday, April 22nd. StockNews.com cut CytomX Therapeutics from a buy rating to a hold rating in a research note on Tuesday, April 23rd. Finally, BMO Capital Markets restated a market perform rating and set a $3.25 price objective on shares of CytomX Therapeutics in a research note on Wednesday, May 1st. Three 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, the stock has an average rating of Hold and an average target price of $4.75.

CytomX Therapeutics Trading Up 2.9 %

Shares of CTMX stock opened at $4.19 on Monday. CytomX Therapeutics has a twelve month low of $1.04 and a twelve month high of $5.85. The stock has a market capitalization of $285.51 million, a price-to-earnings ratio of -209.40 and a beta of 1.09. The stock has a fifty day simple moving average of $2.38 and a two-hundred day simple moving average of $1.78.

CytomX Therapeutics (NASDAQ:CTMX) last issued its earnings results on Monday, March 11th. The biotechnology company reported $0.01 earnings per share 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 analyst estimates of $23.36 million. Research analysts predict that CytomX Therapeutics will post -0.25 EPS for the current fiscal year.

Insider Activity at CytomX Therapeutics

In related news, CEO Sean A. Mccarthy sold 20,223 shares of the company’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 directly owns 524,481 shares of the company’s stock, valued at approximately $1,096,165.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold 35,024 shares of company stock valued at $73,200 in the last ninety days. Corporate insiders own 7.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CTMX. Bank of New York Mellon Corp increased 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 buying an additional 234,970 shares in the last quarter. Congress Park Capital LLC increased its holdings in shares of 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. Susquehanna Fundamental Investments LLC acquired a new position in shares of CytomX Therapeutics in the first quarter valued at about $124,000. SG Americas Securities LLC acquired a new position in shares of CytomX Therapeutics in the first quarter valued at about $57,000. Finally, AlphaMark Advisors LLC increased its holdings in shares of 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. 67.77% of the stock is owned by institutional investors and hedge funds.

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.