CytomX Therapeutics (NASDAQ:CTMX) Coverage Initiated at Piper Sandler

Analysts at Piper Sandler began coverage on shares of CytomX Therapeutics (NASDAQ:CTMX) in a research report issued on Monday. The brokerage set an “overweight” rating and a $2.50 price target on the biotechnology company’s stock. Piper Sandler’s price target would indicate a potential upside of 362.11% from the company’s previous close.

A number of other analysts have also commented on CTMX. Wedbush reaffirmed an “outperform” rating and set a $5.00 price objective on shares of CytomX Therapeutics in a research note on Friday, March 7th. StockNews.com downgraded shares of CytomX Therapeutics from a “buy” rating to a “hold” rating in a research report on Monday, March 31st. Finally, HC Wainwright reiterated a “neutral” rating on shares of CytomX Therapeutics in a research report on Friday, March 7th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $4.77.

CytomX Therapeutics Stock Up 1.6 %

CytomX Therapeutics stock traded up $0.01 during mid-day trading on Monday, hitting $0.54. The company’s stock had a trading volume of 142,746 shares, compared to its average volume of 2,651,889. The stock has a market capitalization of $43.33 million, a P/E ratio of 3.19 and a beta of 1.34. CytomX Therapeutics has a twelve month low of $0.40 and a twelve month high of $5.85. The stock’s fifty day moving average price is $0.66 and its two-hundred day moving average price is $0.90.

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CTMX. Northern Trust Corp grew its holdings in shares of CytomX Therapeutics by 16.0% during the 4th quarter. Northern Trust Corp now owns 150,632 shares of the biotechnology company’s stock valued at $155,000 after acquiring an additional 20,746 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its position in CytomX Therapeutics by 1.5% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,547,215 shares of the biotechnology company’s stock valued at $1,594,000 after purchasing an additional 23,139 shares during the last quarter. Miller Financial Services LLC purchased a new position in CytomX Therapeutics in the fourth quarter valued at about $26,000. Prudential Financial Inc. grew its stake in CytomX Therapeutics by 76.2% in the fourth quarter. Prudential Financial Inc. now owns 64,300 shares of the biotechnology company’s stock valued at $66,000 after purchasing an additional 27,800 shares in the last quarter. Finally, Traphagen Investment Advisors LLC acquired a new position in CytomX Therapeutics in the 4th quarter worth about $31,000. Institutional investors and hedge funds own 67.77% of the company’s stock.

About CytomX Therapeutics

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.