CytomX Therapeutics (NASDAQ:CTMX) Stock Rating Upgraded by StockNews.com

CytomX Therapeutics (NASDAQ:CTMX) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Monday.

CTMX has been the topic of several other reports. Wedbush reaffirmed an “outperform” rating and issued a $5.00 price objective on shares of CytomX Therapeutics in a research note on Friday. HC Wainwright reaffirmed a “neutral” rating on shares of CytomX Therapeutics in a research note on Friday. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $5.02.

CytomX Therapeutics Price Performance

NASDAQ:CTMX traded up $0.00 during mid-day trading on Monday, reaching $0.67. The company’s stock had a trading volume of 4,568,857 shares, compared to its average volume of 2,619,562. The stock has a market cap of $52.41 million, a P/E ratio of 3.94 and a beta of 1.05. CytomX Therapeutics has a twelve month low of $0.60 and a twelve month high of $5.85. The company’s fifty day simple moving average is $0.84 and its two-hundred day simple moving average is $1.01.

CytomX Therapeutics (NASDAQ:CTMX) last released its quarterly earnings data on Thursday, March 6th. The biotechnology company reported $0.22 earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.45. The business had revenue of $38.09 million for the quarter, compared to analyst estimates of $13.53 million. CytomX Therapeutics had a negative return on equity of 41.47% and a net margin of 10.96%. Sell-side analysts expect that CytomX Therapeutics will post -0.05 EPS for the current fiscal year.

Institutional Trading of CytomX Therapeutics

Several large investors have recently bought and sold shares of CTMX. Point72 Asset Management L.P. acquired a new stake in CytomX Therapeutics in the fourth quarter valued at approximately $2,730,000. Prosight Management LP grew its position in shares of CytomX Therapeutics by 29.2% during the fourth quarter. Prosight Management LP now owns 3,905,000 shares of the biotechnology company’s stock worth $4,022,000 after buying an additional 882,891 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of CytomX Therapeutics by 288,736.3% during the fourth quarter. JPMorgan Chase & Co. now owns 811,630 shares of the biotechnology company’s stock worth $836,000 after buying an additional 811,349 shares in the last quarter. Millennium Management LLC grew its position in shares of CytomX Therapeutics by 25.8% during the fourth quarter. Millennium Management LLC now owns 3,221,012 shares of the biotechnology company’s stock worth $3,318,000 after buying an additional 660,756 shares in the last quarter. Finally, Monimus Capital Management LP acquired a new stake in shares of CytomX Therapeutics during the fourth quarter worth approximately $375,000. 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.