HC Wainwright Reaffirms Neutral Rating for CytomX Therapeutics (NASDAQ:CTMX)

HC Wainwright reaffirmed their neutral rating on shares of CytomX Therapeutics (NASDAQ:CTMX) in a research report released on Friday morning, Benzinga reports.

CTMX has been the topic of several other research reports. StockNews.com cut shares of CytomX Therapeutics from a buy rating to a hold rating in a research report on Monday, June 17th. Piper Sandler upgraded CytomX Therapeutics from a neutral rating to an overweight rating and lifted their price target for the stock from $2.25 to $3.50 in a report on Tuesday, May 28th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $5.77.

CytomX Therapeutics Stock Performance

CTMX opened at $1.23 on Friday. CytomX Therapeutics has a fifty-two week low of $1.04 and a fifty-two week high of $5.85. The company has a market capitalization of $96.09 million, a P/E ratio of 6.15 and a beta of 1.03. The stock has a fifty day moving average of $1.28 and a 200-day moving average of $1.76.

CytomX Therapeutics (NASDAQ:CTMX) last released its earnings results on Thursday, August 8th. The biotechnology company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). CytomX Therapeutics had a net margin of 9.27% and a negative return on equity of 27.44%. The business had revenue of $25.12 million during the quarter, compared to the consensus estimate of $21.79 million. During the same quarter in the prior year, the firm earned ($0.02) EPS. On average, equities research analysts predict that CytomX Therapeutics will post -0.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CytomX Therapeutics

Several institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC bought a new position in shares of CytomX Therapeutics during the first quarter valued at about $57,000. XTX Topco Ltd raised its position in CytomX Therapeutics by 382.6% during the 2nd quarter. XTX Topco Ltd now owns 60,586 shares of the biotechnology company’s stock valued at $74,000 after purchasing an additional 48,033 shares during the last quarter. Forefront Analytics LLC lifted its holdings in CytomX Therapeutics by 206.7% in the 2nd quarter. Forefront Analytics LLC now owns 64,065 shares of the biotechnology company’s stock worth $78,000 after buying an additional 43,176 shares during the period. Cubist Systematic Strategies LLC grew its position in shares of CytomX Therapeutics by 96.6% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 82,054 shares of the biotechnology company’s stock worth $100,000 after buying an additional 40,309 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of CytomX Therapeutics during the first quarter valued at approximately $124,000. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

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.