CytomX Therapeutics (CTMX) Receives New Coverage from Analysts at Citigroup

Investment analysts at Citigroup initiated coverage on shares of CytomX Therapeutics (NASDAQ:CTMX) in a research note issued to investors on Friday. The brokerage set a “buy” rating and a $40.00 price target on the biotechnology company’s stock. Citigroup’s price objective points to a potential upside of 74.90% from the stock’s current price.

Several other equities analysts have also recently issued reports on the company. Cantor Fitzgerald started coverage on CytomX Therapeutics in a research note on Monday, October 23rd. They issued an “overweight” rating and a $35.00 price objective for the company. Bank of America lifted their price objective on CytomX Therapeutics from $30.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, October 4th. ValuEngine cut CytomX Therapeutics from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. Zacks Investment Research cut CytomX Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday, November 10th. Finally, Nomura lifted their price objective on CytomX Therapeutics to $44.00 and gave the company a “buy” rating in a research note on Wednesday, October 4th. Two analysts have rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $32.78.

CytomX Therapeutics (NASDAQ CTMX) opened at $22.87 on Friday. The stock has a market capitalization of $859.97, a PE ratio of -14.38 and a beta of 0.47. CytomX Therapeutics has a 52 week low of $10.64 and a 52 week high of $24.67.

In other news, CEO Sean A. Mccarthy sold 14,342 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $19.86, for a total transaction of $284,832.12. Following the sale, the chief executive officer now owns 18,587 shares of the company’s stock, valued at approximately $369,137.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Debanjan Ray sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $20.00, for a total value of $50,000.00. Following the sale, the chief financial officer now directly owns 12,126 shares in the company, valued at approximately $242,520. The disclosure for this sale can be found here. Insiders have sold a total of 54,234 shares of company stock worth $1,120,525 in the last three months. Corporate insiders own 4.70% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Legal & General Group Plc raised its position in shares of CytomX Therapeutics by 28.6% during the 2nd quarter. Legal & General Group Plc now owns 6,448 shares of the biotechnology company’s stock worth $101,000 after acquiring an additional 1,434 shares in the last quarter. Macquarie Group Ltd. acquired a new position in CytomX Therapeutics during the third quarter worth approximately $107,000. Cubist Systematic Strategies LLC acquired a new position in CytomX Therapeutics during the second quarter worth approximately $174,000. Voya Investment Management LLC acquired a new position in CytomX Therapeutics during the second quarter worth approximately $203,000. Finally, Nationwide Fund Advisors increased its position in CytomX Therapeutics by 39.4% during the second quarter. Nationwide Fund Advisors now owns 16,365 shares of the biotechnology company’s stock worth $254,000 after buying an additional 4,622 shares during the period. 63.13% of the stock is currently owned by institutional investors and hedge funds.

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About CytomX Therapeutics

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.

Analyst Recommendations for CytomX Therapeutics (NASDAQ:CTMX)

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