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

CytomX Therapeutics (NASDAQ:CTMX - Get Free Report) was upgraded by StockNews.com from a "hold" rating to a "buy" rating in a report released on Monday.

Several other equities research analysts have also recently commented on CTMX. HC Wainwright reaffirmed a "neutral" rating on shares of CytomX Therapeutics in a report on Friday, March 7th. Wedbush reaffirmed an "outperform" rating and issued a $5.00 target price on shares of CytomX Therapeutics in a research note on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $5.02.

CytomX Therapeutics Stock Down 1.3 %

Shares of CytomX Therapeutics stock traded down $0.01 during trading hours on Monday, reaching $0.59. 1,644,150 shares of the company's stock were exchanged, compared to its average volume of 2,626,683. The business has a fifty day moving average of $0.81 and a two-hundred day moving average of $1.00. The company has a market capitalization of $47.32 million, a P/E ratio of 3.48 and a beta of 1.05. CytomX Therapeutics has a 1 year low of $0.56 and a 1 year high of $5.85.

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CytomX Therapeutics (NASDAQ:CTMX - Get Free Report) last announced its quarterly earnings data on Thursday, March 6th. The biotechnology company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.45. CytomX Therapeutics had a net margin of 10.96% and a negative return on equity of 41.47%. The company had revenue of $38.09 million during the quarter, compared to analysts' expectations of $13.53 million. As a group, research analysts predict that CytomX Therapeutics will post -0.05 EPS for the current year.

Institutional Investors Weigh In On CytomX Therapeutics

Several large investors have recently added to or reduced their stakes in the business. FMR LLC raised its stake in shares of CytomX Therapeutics by 17.3% in the third quarter. FMR LLC now owns 284,307 shares of the biotechnology company's stock valued at $335,000 after acquiring an additional 41,949 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of CytomX Therapeutics by 4.4% in the 3rd quarter. Geode Capital Management LLC now owns 803,531 shares of the biotechnology company's stock valued at $948,000 after buying an additional 34,032 shares during the period. US Bancorp DE acquired a new position in shares of CytomX Therapeutics during the third quarter worth about $40,000. Virtu Financial LLC purchased a new stake in shares of CytomX Therapeutics during the third quarter worth approximately $104,000. Finally, Miller Financial Services LLC acquired a new stake in CytomX Therapeutics in the fourth quarter valued at approximately $26,000. 67.77% of the stock is 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.