CytomX Therapeutics’ (CTMX) Outperform Rating Reiterated at Wedbush

Wedbush reaffirmed their outperform rating on shares of CytomX Therapeutics (NASDAQ:CTMX) in a report published on Friday,RTT News reports. The brokerage currently has a $5.00 price objective on the biotechnology company’s stock.

Separately, HC Wainwright reiterated a “neutral” rating on shares of CytomX Therapeutics in a research report on Friday. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $5.02.

CytomX Therapeutics Stock Performance

Shares of CTMX opened at $0.66 on Friday. The firm has a market cap of $52.03 million, a PE ratio of 3.91 and a beta of 1.05. The firm’s 50 day moving average price is $0.84 and its 200 day moving average price is $1.02. CytomX Therapeutics has a twelve month low of $0.60 and a twelve month high of $5.85.

CytomX Therapeutics (NASDAQ:CTMX) last released its quarterly earnings results on Thursday, March 6th. The biotechnology company reported $0.22 EPS for the quarter, beating 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 analyst estimates of $13.53 million. On average, sell-side analysts anticipate that CytomX Therapeutics will post -0.05 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CytomX Therapeutics

Large investors have recently bought and sold shares of the company. FMR LLC boosted its position in CytomX Therapeutics by 17.3% during the 3rd quarter. FMR LLC now owns 284,307 shares of the biotechnology company’s stock worth $335,000 after acquiring an additional 41,949 shares during the last quarter. Geode Capital Management LLC boosted its position 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 worth $948,000 after acquiring an additional 34,032 shares during the last quarter. US Bancorp DE acquired a new position in CytomX Therapeutics during the 3rd quarter worth approximately $40,000. Virtu Financial LLC acquired a new position in CytomX Therapeutics during the 3rd quarter worth approximately $104,000. Finally, Traphagen Investment Advisors LLC acquired a new position in CytomX Therapeutics during the 4th quarter worth approximately $31,000. Institutional investors and hedge funds own 67.77% of the company’s stock.

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.