Analysts Set CytomX Therapeutics, Inc. (NASDAQ:CTMX) Target Price at $5.02

CytomX Therapeutics, Inc. (NASDAQ:CTMX) has earned a consensus rating of “Moderate Buy” from the six research firms that are presently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $5.02.

CTMX has been the topic of a number of recent research reports. StockNews.com cut shares of CytomX Therapeutics from a “buy” rating to a “hold” rating in a report on Monday. HC Wainwright reissued a “neutral” rating on shares of CytomX Therapeutics in a report on Friday, March 7th. Finally, Wedbush restated an “outperform” rating and set a $5.00 price objective on shares of CytomX Therapeutics in a research note on Friday, March 7th.

CytomX Therapeutics Trading Down 8.8 %

Shares of NASDAQ CTMX opened at $0.58 on Friday. The business has a 50 day simple moving average of $0.73 and a 200-day simple moving average of $0.95. CytomX Therapeutics has a twelve month low of $0.56 and a twelve month high of $5.85. The company has a market capitalization of $46.46 million, a price-to-earnings ratio of 3.41 and a beta of 1.05.

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

Hedge Funds Weigh In On CytomX Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. FMR LLC grew its stake in shares of CytomX Therapeutics by 17.3% in the third quarter. FMR LLC now owns 284,307 shares of the biotechnology company’s stock worth $335,000 after purchasing an additional 41,949 shares in the last quarter. Geode Capital Management LLC increased its stake in CytomX Therapeutics by 4.4% during the 3rd quarter. Geode Capital Management LLC now owns 803,531 shares of the biotechnology company’s stock valued at $948,000 after buying an additional 34,032 shares during the period. Virtu Financial LLC acquired a new position in CytomX Therapeutics during the 3rd quarter valued at about $104,000. Miller Financial Services LLC bought a new stake in shares of CytomX Therapeutics during the 4th quarter worth about $26,000. Finally, Traphagen Investment Advisors LLC acquired a new stake in shares of CytomX Therapeutics in the 4th quarter worth approximately $31,000. 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.