CytomX Therapeutics (NASDAQ:CTMX) Stock Price Up 19.3%

CytomX Therapeutics Inc (NASDAQ:CTMX) shares rose 19.3% during trading on Wednesday . The stock traded as high as $6.34 and last traded at $6.18, approximately 1,008,800 shares were traded during trading. An increase of 129% from the average daily volume of 440,307 shares. The stock had previously closed at $5.18.

Several research firms have weighed in on CTMX. Mizuho restated a “buy” rating and set a $16.00 target price on shares of CytomX Therapeutics in a research note on Monday, August 12th. Cowen reissued a “buy” rating on shares of CytomX Therapeutics in a report on Wednesday, August 7th. Nomura reissued a “buy” rating and set a $22.00 price target on shares of CytomX Therapeutics in a report on Sunday, August 11th. BidaskClub downgraded CytomX Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Tuesday, October 1st. Finally, Wedbush lowered CytomX Therapeutics from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $25.00 to $8.00 in a research note on Monday, November 11th. One analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $18.02.

The company has a debt-to-equity ratio of 0.31, a quick ratio of 4.40 and a current ratio of 4.40. The firm has a market cap of $243.53 million, a P/E ratio of -3.04 and a beta of 0.64. The company’s 50 day moving average is $6.54 and its 200 day moving average is $9.23.

CytomX Therapeutics (NASDAQ:CTMX) last posted its earnings results on Thursday, November 7th. The biotechnology company reported ($0.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.13). The company had revenue of $10.71 million for the quarter, compared to the consensus estimate of $23.58 million. CytomX Therapeutics had a negative return on equity of 90.62% and a negative net margin of 163.18%. On average, equities research analysts anticipate that CytomX Therapeutics Inc will post -1.96 EPS for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Trust Advisors LP bought a new stake in CytomX Therapeutics during the 1st quarter worth $263,000. Strs Ohio grew its holdings in shares of CytomX Therapeutics by 7.5% during the second quarter. Strs Ohio now owns 59,900 shares of the biotechnology company’s stock worth $672,000 after purchasing an additional 4,200 shares during the last quarter. Aperio Group LLC bought a new stake in shares of CytomX Therapeutics during the second quarter worth about $70,000. DekaBank Deutsche Girozentrale increased its stake in shares of CytomX Therapeutics by 64.6% in the second quarter. DekaBank Deutsche Girozentrale now owns 24,200 shares of the biotechnology company’s stock valued at $257,000 after buying an additional 9,500 shares during the period. Finally, Candriam Luxembourg S.C.A. increased its stake in shares of CytomX Therapeutics by 2.8% in the second quarter. Candriam Luxembourg S.C.A. now owns 687,833 shares of the biotechnology company’s stock valued at $7,684,000 after buying an additional 19,000 shares during the period. 80.16% of the stock is currently owned by institutional investors.

About CytomX Therapeutics (NASDAQ:CTMX)

CytomX Therapeutics, Inc operates as an oncology-focused biopharmaceutical company in the United States. The company develops a novel class of investigational antibody therapeutics based on its Probody technology platform for the treatment of cancer. Its product candidates in clinical stage include CX-072, a Probody therapeutic targeting programmed cell death ligand 1 immuno-oncology target; CX-2009, a Probody drug conjugate (PDC) against CD166 novel drug target; BMS-986249, a CTLA-4 Probody therapeutic drug; CX-2029, a PDC targeting CD71; and CX-188, a Probody therapeutic targeting PD-1 anti-cancer target.

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