CytomX Therapeutics, Inc. (CTMX) Earns Buy Rating from Cowen and Company

Cowen and Company restated their buy rating on shares of CytomX Therapeutics, Inc. (NASDAQ:CTMX) in a research report sent to investors on Tuesday.

Other analysts have also issued reports about the stock. HC Wainwright reissued a buy rating on shares of CytomX Therapeutics in a research report on Monday, May 8th. Zacks Investment Research raised shares of CytomX Therapeutics from a hold rating to a buy rating and set a $17.00 price target for the company in a research report on Wednesday, May 3rd. Jefferies Group LLC reissued a buy rating and issued a $25.00 price target on shares of CytomX Therapeutics in a research report on Wednesday, April 26th. BidaskClub raised shares of CytomX Therapeutics from a sell rating to a hold rating in a research report on Saturday, July 8th. Finally, ValuEngine lowered shares of CytomX Therapeutics from a hold rating to a sell rating in a research report on Thursday, May 11th. Two analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. CytomX Therapeutics currently has a consensus rating of Hold and a consensus target price of $25.60.

Shares of CytomX Therapeutics (CTMX) traded up 0.94% during trading on Tuesday, reaching $13.98. 159,504 shares of the company’s stock were exchanged. CytomX Therapeutics has a 52 week low of $9.85 and a 52 week high of $20.02. The company’s 50-day moving average price is $14.70 and its 200 day moving average price is $14.50. The firm’s market capitalization is $515.40 million.

CytomX Therapeutics (NASDAQ:CTMX) last posted its quarterly earnings results on Monday, August 7th. The biotechnology company reported ($0.69) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by $0.30. The company had revenue of $8.75 million during the quarter, compared to analysts’ expectations of $4.95 million. CytomX Therapeutics had a negative return on equity of 84.61% and a negative net margin of 206.33%. Analysts predict that CytomX Therapeutics will post ($1.47) EPS for the current fiscal year.

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In related news, insider Sean A. Mccarthy sold 4,781 shares of the stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $15.52, for a total value of $74,201.12. Following the transaction, the insider now owns 9,026 shares in the company, valued at $140,083.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Robert I. Tepper sold 15,000 shares of the stock in a transaction that occurred on Thursday, June 29th. The stock was sold at an average price of $16.00, for a total value of $240,000.00. Following the completion of the transaction, the insider now owns 44,777 shares in the company, valued at approximately $716,432. The disclosure for this sale can be found here. Insiders sold 39,343 shares of company stock worth $606,856 in the last 90 days. 4.70% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in CTMX. Russell Investments Group Ltd. increased its position in CytomX Therapeutics by 1.3% in the second quarter. Russell Investments Group Ltd. now owns 22,134 shares of the biotechnology company’s stock worth $343,000 after buying an additional 292 shares in the last quarter. American International Group Inc. increased its position in CytomX Therapeutics by 7.1% in the first quarter. American International Group Inc. now owns 12,580 shares of the biotechnology company’s stock worth $217,000 after buying an additional 834 shares in the last quarter. Legal & General Group Plc increased its position in CytomX Therapeutics by 28.6% in the second quarter. Legal & General Group Plc now owns 6,448 shares of the biotechnology company’s stock worth $101,000 after buying an additional 1,434 shares in the last quarter. Teachers Advisors LLC increased its position in CytomX Therapeutics by 6.7% in the fourth quarter. Teachers Advisors LLC now owns 34,961 shares of the biotechnology company’s stock worth $384,000 after buying an additional 2,209 shares in the last quarter. Finally, Swiss National Bank increased its position in CytomX Therapeutics by 19.1% in the first quarter. Swiss National Bank now owns 26,800 shares of the biotechnology company’s stock worth $463,000 after buying an additional 4,300 shares in the last quarter. Hedge funds and other institutional investors own 52.33% of the company’s stock.

CytomX Therapeutics Company Profile

CytomX Therapeutics, Inc is a clinical-stage, oncology-focused biopharmaceutical company. The Company uses its Probody technology platform to create cancer immunotherapies against clinically validated targets, as well as to develop cancer therapeutics against difficult-to-drug targets. Its pipeline is focused on the development of therapies in a set of modalities: Probody cancer immunotherapies, Probody drug conjugates, T-cell engaging Probody bispecifics and ProCAR-NK cell therapies.

Analyst Recommendations for CytomX Therapeutics (NASDAQ:CTMX)

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