CytomX Therapeutics (CTMX) Receives $40.17 Average Target Price from Analysts

CytomX Therapeutics (NASDAQ:CTMX) has earned an average rating of “Buy” from the thirteen research firms that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and nine have given a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $40.17.

A number of equities analysts have recently weighed in on CTMX shares. Citigroup started coverage on shares of CytomX Therapeutics in a research report on Friday, January 5th. They issued a “buy” rating and a $40.00 price objective for the company. Zacks Investment Research lowered shares of CytomX Therapeutics from a “hold” rating to a “sell” rating in a research report on Monday, February 5th. Cantor Fitzgerald set a $40.00 price objective on shares of CytomX Therapeutics and gave the company a “buy” rating in a research report on Saturday, March 17th. BidaskClub raised shares of CytomX Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, February 7th. Finally, Bank of America boosted their price objective on shares of CytomX Therapeutics from $34.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, March 8th.

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In other news, CFO Debanjan Ray sold 2,548 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $26.69, for a total value of $68,006.12. Following the completion of the sale, the chief financial officer now owns 4,741 shares of the company’s stock, valued at $126,537.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Rachel Humphrey sold 23,840 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $30.00, for a total transaction of $715,200.00. Following the completion of the sale, the insider now directly owns 54,074 shares of the company’s stock, valued at approximately $1,622,220. The disclosure for this sale can be found here. Insiders have sold 103,548 shares of company stock valued at $3,101,686 in the last ninety days. 4.70% of the stock is currently owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in CTMX. Perceptive Advisors LLC increased its position in shares of CytomX Therapeutics by 79.1% in the fourth quarter. Perceptive Advisors LLC now owns 2,490,381 shares of the biotechnology company’s stock worth $52,571,000 after acquiring an additional 1,100,000 shares in the last quarter. BlackRock Inc. increased its position in shares of CytomX Therapeutics by 28.5% in the fourth quarter. BlackRock Inc. now owns 2,646,599 shares of the biotechnology company’s stock worth $55,870,000 after acquiring an additional 586,698 shares in the last quarter. Millennium Management LLC increased its position in shares of CytomX Therapeutics by 34.0% in the fourth quarter. Millennium Management LLC now owns 837,415 shares of the biotechnology company’s stock worth $17,678,000 after acquiring an additional 212,423 shares in the last quarter. Nexthera Capital LP acquired a new stake in shares of CytomX Therapeutics in the fourth quarter worth $3,797,000. Finally, Renaissance Technologies LLC increased its position in shares of CytomX Therapeutics by 32.9% in the fourth quarter. Renaissance Technologies LLC now owns 715,100 shares of the biotechnology company’s stock worth $15,096,000 after acquiring an additional 177,200 shares in the last quarter. 78.07% of the stock is owned by institutional investors.

Shares of NASDAQ CTMX opened at $28.61 on Thursday. CytomX Therapeutics has a 12-month low of $13.00 and a 12-month high of $35.00. The stock has a market capitalization of $1,145.98, a price-to-earnings ratio of -24.66 and a beta of 0.91.

CytomX Therapeutics (NASDAQ:CTMX) last posted its quarterly earnings data on Wednesday, March 7th. The biotechnology company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.45. The business had revenue of $27.07 million during the quarter, compared to analyst estimates of $10.70 million. CytomX Therapeutics had a negative net margin of 60.17% and a negative return on equity of 71.42%. equities research analysts expect that CytomX Therapeutics will post -1.44 EPS for the current fiscal year.

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About CytomX Therapeutics

CytomX Therapeutics, Inc operates as an oncology-focused biopharmaceutical company in the United States. The company develops a novel class of investigational antibody therapeutics based on its Probody technology platform for the treatment of cancer. Its product candidates in clinical stage include CX-072, a Probody therapeutic targeting programmed cell death ligand 1 anti-cancer target; CX-2009, a Probody drug conjugate (PDC) against CD166 novel tumor antigen; BMS-986249, a CTLA-4 Probody therapeutic drug; CX-2029, a PDC targeting CD71; and CX-188, a Probody therapeutic targeting PD-1 anti-cancer target.

Analyst Recommendations for CytomX Therapeutics (NASDAQ:CTMX)

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