Piper Sandler Begins Coverage on CytomX Therapeutics (NASDAQ:CTMX)

Equities researchers at Piper Sandler started coverage on shares of CytomX Therapeutics (NASDAQ:CTMX) in a report issued on Monday, Marketbeat reports. The firm set an “overweight” rating and a $2.50 price target on the biotechnology company’s stock. Piper Sandler’s target price would indicate a potential upside of 295.88% from the company’s current price.

CTMX has been the topic of a number of other reports. HC Wainwright reiterated a “neutral” rating on shares of CytomX Therapeutics in a report on Friday, March 7th. StockNews.com lowered shares of CytomX Therapeutics from a “buy” rating to a “hold” rating in a research report on Monday, March 31st. Finally, Wedbush reiterated an “outperform” rating and set a $5.00 price objective on shares of CytomX Therapeutics in a research report on Friday, March 7th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $4.77.

CytomX Therapeutics Stock Performance

Shares of CTMX opened at $0.63 on Monday. The firm has a market capitalization of $50.58 million, a price-to-earnings ratio of 3.71 and a beta of 1.34. The stock’s fifty day moving average is $0.65 and its 200-day moving average is $0.90. CytomX Therapeutics has a one year low of $0.40 and a one year high of $5.85.

CytomX Therapeutics (NASDAQ:CTMX) last issued its quarterly earnings results on Thursday, March 6th. The biotechnology company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.45. The firm had revenue of $38.09 million during the quarter, compared to analyst estimates of $13.53 million. CytomX Therapeutics had a negative return on equity of 41.47% and a net margin of 10.96%. Analysts forecast that CytomX Therapeutics will post -0.05 EPS for the current fiscal year.

Institutional Investors Weigh In On CytomX Therapeutics

A number of large investors have recently made changes to their positions in CTMX. Miller Financial Services LLC purchased a new position in CytomX Therapeutics during the 4th quarter worth approximately $26,000. Traphagen Investment Advisors LLC acquired a new stake in shares of CytomX Therapeutics in the fourth quarter worth $31,000. Algert Global LLC purchased a new position in shares of CytomX Therapeutics during the fourth quarter valued at $35,000. Velan Capital Investment Management LP purchased a new position in shares of CytomX Therapeutics during the fourth quarter valued at $36,000. Finally, Aspire Growth Partners LLC acquired a new position in CytomX Therapeutics during the fourth quarter valued at $42,000. Institutional investors and hedge funds own 67.77% of the company’s stock.

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.