CytomX Therapeutics (NASDAQ:CTMX) Reaches New 12-Month High – Still a Buy?
by Michael Walen · The Markets DailyCytomX Therapeutics, Inc. (NASDAQ:CTMX – Get Free Report)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $6.17 and last traded at $6.01, with a volume of 162048 shares changing hands. The stock had previously closed at $6.09.
Analysts Set New Price Targets
CTMX has been the subject of several recent research reports. HC Wainwright lifted their target price on shares of CytomX Therapeutics from $5.00 to $10.00 and gave the stock a “buy” rating in a research note on Tuesday, November 11th. Barclays raised their price objective on shares of CytomX Therapeutics from $6.00 to $8.00 and gave the stock an “overweight” rating in a report on Tuesday, January 20th. Guggenheim assumed coverage on shares of CytomX Therapeutics in a report on Tuesday, January 20th. They set a “buy” rating and a $10.00 target price on the stock. Wall Street Zen downgraded CytomX Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Finally, Piper Sandler lifted their price target on CytomX Therapeutics from $6.50 to $10.00 and gave the company an “overweight” rating in a research report on Tuesday, January 20th. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $8.14.
Check Out Our Latest Stock Analysis on CytomX Therapeutics
CytomX Therapeutics Price Performance
The firm’s 50 day moving average is $4.51 and its 200 day moving average is $3.40. The company has a market cap of $1.03 billion, a PE ratio of 15.17 and a beta of 2.44.
CytomX Therapeutics (NASDAQ:CTMX – Get Free Report) last announced its quarterly earnings results on Thursday, November 6th. The biotechnology company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.05). The firm had revenue of $5.96 million during the quarter, compared to the consensus estimate of $11.50 million. CytomX Therapeutics had a net margin of 24.66% and a return on equity of 44.49%. As a group, analysts anticipate that CytomX Therapeutics, Inc. will post -0.05 EPS for the current year.
Hedge Funds Weigh In On CytomX Therapeutics
A number of institutional investors have recently added to or reduced their stakes in CTMX. Farther Finance Advisors LLC bought a new stake in shares of CytomX Therapeutics during the 3rd quarter valued at about $25,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of CytomX Therapeutics in the fourth quarter worth approximately $35,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in CytomX Therapeutics in the third quarter valued at approximately $34,000. Truist Financial Corp bought a new stake in CytomX Therapeutics during the third quarter valued at approximately $40,000. Finally, Invesco Ltd. purchased a new position in CytomX Therapeutics in the 2nd quarter worth approximately $32,000. 67.77% of the stock is currently owned by institutional investors.
About CytomX Therapeutics
CytomX Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of next-generation therapeutics based on its proprietary Probody® platform. The company engineers masked antibody prodrugs that remain inactive in healthy tissue but are selectively activated in the tumor microenvironment. This approach is designed to enhance the safety and tolerability of antibody-based therapies, particularly those targeting immuno-oncology pathways.
At the core of CytomX’s pipeline is Pacmilimab (CX-072), an anti–PD-L1 Probody therapeutic currently undergoing clinical evaluation for multiple solid tumor indications.