CytomX Therapeutics Inc (CTMX) Hits New 1-Year High After Analyst Upgrade

CytomX Therapeutics Inc (NASDAQ:CTMX) shares reached a new 52-week high during mid-day trading on Monday after Instinet raised their price target on the stock to $32.00. Instinet currently has a sell rating on the stock. CytomX Therapeutics traded as high as $18.94 and last traded at $18.95, with a volume of 1,415,109 shares trading hands. The stock had previously closed at $15.18.

A number of other research firms have also issued reports on CTMX. Cowen and Company reissued a “buy” rating on shares of CytomX Therapeutics in a report on Thursday, February 2nd. Oppenheimer Holdings Inc. reissued a “hold” rating on shares of CytomX Therapeutics in a report on Saturday, March 4th. Zacks Investment Research lowered CytomX Therapeutics from a “hold” rating to a “sell” rating in a report on Tuesday, February 14th. Cann reissued a “hold” rating on shares of CytomX Therapeutics in a report on Tuesday, January 3rd. Finally, Nomura started coverage on CytomX Therapeutics in a report on Wednesday, March 1st. They issued a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $22.00.

In related news, insider Sean A. Mccarthy sold 14,343 shares of the company’s stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $15.00, for a total transaction of $215,145.00. Following the transaction, the insider now owns 16,322 shares of the company’s stock, valued at $244,830. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 4.70% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Perceptive Advisors LLC acquired a new position in shares of CytomX Therapeutics during the fourth quarter worth $10,152,000. Renaissance Technologies LLC acquired a new position in shares of CytomX Therapeutics during the fourth quarter worth $1,002,000. Oxford Asset Management acquired a new position in shares of CytomX Therapeutics during the fourth quarter worth $271,000. Spark Investment Management LLC acquired a new position in shares of CytomX Therapeutics during the third quarter worth $374,000. Finally, Russell Investments Group Ltd. acquired a new position in shares of CytomX Therapeutics during the fourth quarter worth $243,000. 54.31% of the stock is currently owned by hedge funds and other institutional investors.

The firm’s market cap is $689.83 million. The firm has a 50-day moving average price of $12.70 and a 200 day moving average price of $12.58.

CytomX Therapeutics (NASDAQ:CTMX) last released its earnings results on Thursday, March 2nd. The company reported ($0.39) EPS for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.04. CytomX Therapeutics had a negative return on equity of 52.50% and a negative net margin of 523.78%. On average, equities research analysts expect that CytomX Therapeutics Inc will post ($2.20) EPS for the current fiscal year.

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About CytomX Therapeutics

CytomX Therapeutics, Inc is an oncology-focused biopharmaceutical company. The Company is engaged in the development of a class of antibody therapeutics based on its Probody technology platform. It uses its platform to create cancer immunotherapies against clinically validated targets, as well as to develop cancer therapeutics against a range of targets.

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