CytomX Therapeutics, Inc. (NASDAQ:CTMX) Given Consensus Recommendation of “Moderate Buy” by Brokerages

CytomX Therapeutics, Inc. (NASDAQ:CTMX) has been given an average recommendation of “Moderate Buy” by the six brokerages that are presently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $5.77.

Separately, HC Wainwright restated a “neutral” rating on shares of CytomX Therapeutics in a research report on Monday, November 11th.

CytomX Therapeutics Stock Up 3.8 %

Shares of CytomX Therapeutics stock opened at $1.10 on Friday. The company has a 50-day simple moving average of $1.06 and a two-hundred day simple moving average of $1.21. CytomX Therapeutics has a twelve month low of $0.83 and a twelve month high of $5.85. The stock has a market capitalization of $86.08 million, a price-to-earnings ratio of 6.47 and a beta of 1.07.

CytomX Therapeutics (NASDAQ:CTMX) last issued its quarterly earnings results on Thursday, November 7th. The biotechnology company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.23. CytomX Therapeutics had a negative return on equity of 41.47% and a net margin of 10.96%. The business had revenue of $33.43 million during the quarter, compared to analysts’ expectations of $18.92 million. During the same period in the previous year, the company posted $0.04 earnings per share. On average, sell-side analysts anticipate that CytomX Therapeutics will post -0.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CytomX Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. US Bancorp DE acquired a new stake in CytomX Therapeutics in the third quarter valued at approximately $40,000. XTX Topco Ltd lifted its stake in shares of CytomX Therapeutics by 382.6% in the 2nd quarter. XTX Topco Ltd now owns 60,586 shares of the biotechnology company’s stock valued at $74,000 after acquiring an additional 48,033 shares during the last quarter. Forefront Analytics LLC grew its position in CytomX Therapeutics by 206.7% during the 2nd quarter. Forefront Analytics LLC now owns 64,065 shares of the biotechnology company’s stock worth $78,000 after acquiring an additional 43,176 shares during the last quarter. Cubist Systematic Strategies LLC increased its holdings in CytomX Therapeutics by 96.6% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 82,054 shares of the biotechnology company’s stock worth $100,000 after purchasing an additional 40,309 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in CytomX Therapeutics in the 3rd quarter worth about $104,000. 67.77% of the stock is owned by institutional investors.

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.