CytomX Therapeutics (NASDAQ:CTMX) Upgraded at Piper Sandler

Piper Sandler upgraded shares of CytomX Therapeutics (NASDAQ:CTMX) from a neutral rating to an overweight rating in a report published on Tuesday morning, MarketBeat.com reports. Piper Sandler currently has $3.50 price objective on the biotechnology company’s stock, up from their prior price objective of $2.25.

A number of other research firms have also weighed in on CTMX. Jefferies Financial Group raised CytomX Therapeutics from a hold rating to a buy rating and increased their price objective for the company from $2.50 to $8.00 in a research note on Monday, May 6th. BMO Capital Markets increased their price objective on CytomX Therapeutics from $3.25 to $3.59 and gave the company a market perform rating in a research note on Thursday, May 9th. StockNews.com raised CytomX Therapeutics from a hold rating to a buy rating in a research note on Friday, May 10th. Wedbush raised CytomX Therapeutics from a neutral rating to an outperform rating and raised their price target for the stock from $3.00 to $8.00 in a research note on Thursday, May 9th. Finally, JPMorgan Chase & Co. raised CytomX Therapeutics from an underweight rating to a neutral rating in a research note on Monday, April 22nd. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $5.77.

CytomX Therapeutics Price Performance

Shares of NASDAQ CTMX opened at $1.75 on Tuesday. The stock has a market capitalization of $136.36 million, a P/E ratio of 8.75 and a beta of 1.09. CytomX Therapeutics has a one year low of $1.04 and a one year high of $5.85. The firm’s 50 day simple moving average is $2.22 and its two-hundred day simple moving average is $1.85.

CytomX Therapeutics (NASDAQ:CTMX) last released its quarterly earnings data on Wednesday, May 8th. The biotechnology company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.23. The firm had revenue of $41.46 million during the quarter, compared to analyst estimates of $23.40 million. CytomX Therapeutics had a negative return on equity of 30.70% and a net margin of 13.87%. As a group, equities analysts expect that CytomX Therapeutics will post -0.16 earnings per share for the current fiscal year.

Insider Buying and Selling at CytomX Therapeutics

In other CytomX Therapeutics news, CEO Sean A. Mccarthy sold 20,223 shares of the firm’s stock in a transaction on Tuesday, March 19th. The stock was 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 of the company’s stock, valued at $1,096,165.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders sold 35,024 shares of company stock valued at $73,200. 7.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CytomX Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the stock. AlphaMark Advisors LLC increased its holdings in shares of CytomX Therapeutics by 119.8% during the fourth 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 in the last quarter. SG Americas Securities LLC bought a new position in shares of CytomX Therapeutics during the first quarter valued at $57,000. Acadian Asset Management LLC increased its holdings in shares of CytomX Therapeutics by 1.7% during the first quarter. Acadian Asset Management LLC now owns 2,690,830 shares of the biotechnology company’s stock valued at $5,863,000 after acquiring an additional 44,640 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of CytomX Therapeutics during the first quarter valued at $124,000. Finally, Congress Park Capital LLC increased its holdings in CytomX Therapeutics by 112.8% in the 4th quarter. Congress Park Capital LLC now owns 239,300 shares of the biotechnology company’s stock worth $371,000 after buying an additional 126,850 shares in the last quarter. 67.77% of the stock is currently owned by 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.