CytomX Therapeutics, Inc. (CTMX) Receives Consensus Rating of “Hold” from Analysts

CytomX Therapeutics, Inc. (NASDAQ:CTMX) has been given a consensus recommendation of “Hold” by the twelve research firms that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $32.67.

A number of equities research analysts have recently issued reports on CTMX shares. Wedbush started coverage on CytomX Therapeutics in a research report on Thursday, September 7th. They set an “outperform” rating and a $26.00 target price on the stock. Nomura boosted their target price on CytomX Therapeutics to $44.00 and gave the stock a “buy” rating in a research report on Wednesday, October 4th. ValuEngine lowered CytomX Therapeutics from a “hold” rating to a “sell” rating in a research report on Friday, September 15th. Bank of America Corporation boosted their target price on CytomX Therapeutics from $30.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, October 4th. Finally, Jefferies Group LLC set a $25.00 target price on CytomX Therapeutics and gave the stock a “buy” rating in a research report on Friday, August 25th.

In other news, insider William Michael Kavanaugh sold 48,368 shares of CytomX Therapeutics stock in a transaction on Wednesday, October 4th. The stock was sold at an average price of $24.34, for a total transaction of $1,177,277.12. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Debanjan Ray sold 2,500 shares of CytomX Therapeutics stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $15.00, for a total value of $37,500.00. Following the transaction, the chief financial officer now owns 19,626 shares in the company, valued at approximately $294,390. The disclosure for this sale can be found here. Insiders have sold 177,794 shares of company stock worth $3,806,089 in the last quarter. 4.70% of the stock is currently owned by corporate insiders.

Hedge funds have recently modified their holdings of the company. Citadel Advisors LLC purchased a new position in shares of CytomX Therapeutics during the first quarter valued at $313,000. Goldman Sachs Group Inc. purchased a new position in CytomX Therapeutics in the first quarter valued at about $190,000. KCG Holdings Inc. purchased a new position in CytomX Therapeutics in the first quarter valued at about $388,000. American Century Companies Inc. purchased a new position in CytomX Therapeutics in the second quarter valued at about $922,000. Finally, Sphera Funds Management LTD. grew its stake in CytomX Therapeutics by 33.3% in the second quarter. Sphera Funds Management LTD. now owns 200,000 shares of the biotechnology company’s stock valued at $3,100,000 after purchasing an additional 50,000 shares in the last quarter. Institutional investors and hedge funds own 59.97% of the company’s stock.

CytomX Therapeutics (NASDAQ:CTMX) traded up 0.40% during mid-day trading on Thursday, hitting $20.09. The company had a trading volume of 261,495 shares. The company’s 50 day moving average price is $18.80 and its 200-day moving average price is $15.90. CytomX Therapeutics has a one year low of $9.85 and a one year high of $24.67. The company’s market cap is $740.66 million.

CytomX Therapeutics (NASDAQ:CTMX) last announced its 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 for the quarter, compared to analyst estimates of $4.95 million. CytomX Therapeutics had a negative return on equity of 84.61% and a negative net margin of 206.33%. Equities research analysts anticipate that CytomX Therapeutics will post ($1.47) EPS for the current fiscal year.

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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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