CytomX Therapeutics Inc (CTMX) Given Average Recommendation of “Hold” by Brokerages

Shares of CytomX Therapeutics Inc (NASDAQ:CTMX) have been given a consensus recommendation of “Hold” by the eleven brokerages that are covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $35.86.

Several analysts have commented on the stock. Zacks Investment Research upgraded shares of CytomX Therapeutics from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a research note on Tuesday, July 10th. ValuEngine cut shares of CytomX Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 29th. BidaskClub cut shares of CytomX Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday, August 15th. HC Wainwright assumed coverage on shares of CytomX Therapeutics in a research note on Thursday, September 13th. They set a “buy” rating and a $32.00 price objective for the company. Finally, Goldman Sachs Group assumed coverage on shares of CytomX Therapeutics in a research note on Monday, October 15th. They set a “neutral” rating and a $21.00 price objective for the company.

NASDAQ:CTMX opened at $15.01 on Monday. The company has a market cap of $641.18 million, a price-to-earnings ratio of -12.94 and a beta of 1.46. CytomX Therapeutics has a twelve month low of $13.48 and a twelve month high of $35.00.

CytomX Therapeutics (NASDAQ:CTMX) last released its earnings results on Wednesday, August 8th. The biotechnology company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.01). The company had revenue of $21.34 million for the quarter, compared to analysts’ expectations of $16.48 million. CytomX Therapeutics had a negative return on equity of 74.84% and a negative net margin of 44.46%. As a group, equities analysts expect that CytomX Therapeutics will post -1.58 earnings per share for the current year.

In related news, insider Sean A. Mccarthy sold 13,052 shares of the business’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $21.86, for a total value of $285,316.72. Following the completion of the transaction, the insider now directly owns 95,115 shares in the company, valued at approximately $2,079,213.90. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Debanjan Ray sold 3,000 shares of the business’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $22.39, for a total transaction of $67,170.00. Following the completion of the transaction, the chief financial officer now owns 8,928 shares of the company’s stock, valued at $199,897.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,052 shares of company stock valued at $407,867. Company insiders own 8.50% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. State of Wisconsin Investment Board lifted its stake in shares of CytomX Therapeutics by 87.1% in the 2nd quarter. State of Wisconsin Investment Board now owns 39,300 shares of the biotechnology company’s stock valued at $898,000 after purchasing an additional 18,300 shares during the period. Vident Investment Advisory LLC lifted its stake in shares of CytomX Therapeutics by 26.2% in the 2nd quarter. Vident Investment Advisory LLC now owns 99,904 shares of the biotechnology company’s stock valued at $2,284,000 after purchasing an additional 20,761 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in shares of CytomX Therapeutics by 18.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 235,926 shares of the biotechnology company’s stock valued at $5,394,000 after purchasing an additional 37,560 shares during the period. MetLife Investment Advisors LLC raised its position in CytomX Therapeutics by 35.9% during the second quarter. MetLife Investment Advisors LLC now owns 18,290 shares of the biotechnology company’s stock worth $418,000 after acquiring an additional 4,831 shares during the period. Finally, FMR LLC raised its position in CytomX Therapeutics by 0.9% during the second quarter. FMR LLC now owns 5,843,626 shares of the biotechnology company’s stock worth $133,586,000 after acquiring an additional 51,953 shares during the period. Hedge funds and other institutional investors own 71.83% of the company’s stock.

CytomX Therapeutics Company Profile

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.

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Analyst Recommendations for CytomX Therapeutics (NASDAQ:CTMX)

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