Bank of America Corporation reissued their buy rating on shares of CytomX Therapeutics, Inc. (NASDAQ:CTMX) in a research report report published on Wednesday morning. They currently have a $30.00 price target on the biotechnology company’s stock, up from their previous price target of $28.00.
Other equities research analysts have also issued research reports about the company. HC Wainwright reaffirmed a buy rating on shares of CytomX Therapeutics in a research report on Monday, May 8th. Zacks Investment Research raised CytomX Therapeutics from a hold rating to a buy rating and set a $17.00 price target on the stock in a research report on Wednesday, May 3rd. Jefferies Group LLC reaffirmed a buy rating and set a $25.00 price target on shares of CytomX Therapeutics in a research report on Wednesday, April 26th. Cowen and Company reaffirmed a buy rating on shares of CytomX Therapeutics in a research report on Tuesday. Finally, BidaskClub raised CytomX Therapeutics from a sell rating to a hold rating in a research report on Saturday, July 8th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. CytomX Therapeutics has an average rating of Hold and a consensus target price of $25.60.
CytomX Therapeutics (CTMX) traded up 0.94% during trading on Wednesday, reaching $13.98. The company’s stock had a trading volume of 159,504 shares. The firm’s market cap is $515.40 million. CytomX Therapeutics has a 52 week low of $9.85 and a 52 week high of $20.02. The stock’s 50 day moving average is $14.70 and its 200-day moving average is $14.50.
CytomX Therapeutics (NASDAQ:CTMX) last released its quarterly earnings results on Monday, August 7th. The biotechnology company reported ($0.69) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.39) by $0.30. The business had revenue of $8.75 million for the quarter, compared to analyst estimates of $4.95 million. CytomX Therapeutics had a negative return on equity of 84.61% and a negative net margin of 206.33%. On average, equities research analysts forecast that CytomX Therapeutics will post ($1.47) earnings per share for the current fiscal year.
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In related news, insider Sean A. Mccarthy sold 4,481 shares of the stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $15.00, for a total transaction of $67,215.00. Following the completion of the transaction, the insider now directly owns 8,726 shares in the company, valued at $130,890. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Robert I. Tepper sold 15,000 shares of the stock in a transaction dated Thursday, June 29th. The stock was sold at an average price of $16.00, for a total value of $240,000.00. Following the transaction, the insider now owns 44,777 shares of the company’s stock, valued at $716,432. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 39,343 shares of company stock valued at $606,856. 4.70% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Legal & General Group Plc increased its position in CytomX Therapeutics by 28.6% in the second quarter. Legal & General Group Plc now owns 6,448 shares of the biotechnology company’s stock worth $101,000 after buying an additional 1,434 shares during the last quarter. Hillsdale Investment Management Inc. purchased a new position in CytomX Therapeutics during the first quarter worth about $159,000. First Quadrant L P CA purchased a new position in CytomX Therapeutics during the second quarter worth about $160,000. Goldman Sachs Group Inc. purchased a new position in CytomX Therapeutics during the first quarter worth about $190,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in CytomX Therapeutics during the first quarter worth about $206,000. Institutional investors and hedge funds own 52.33% of the company’s stock.
CytomX Therapeutics Company Profile
CytomX Therapeutics, Inc is a clinical-stage, oncology-focused biopharmaceutical company. The Company uses its Probody technology platform to create cancer immunotherapies against clinically validated targets, as well as to develop cancer therapeutics against difficult-to-drug targets. Its pipeline is focused on the development of therapies in a set of modalities: Probody cancer immunotherapies, Probody drug conjugates, T-cell engaging Probody bispecifics and ProCAR-NK cell therapies.
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