CytomX Therapeutics (NASDAQ:CTMX) Coverage Initiated by Analysts at BMO Capital Markets

Analysts at BMO Capital Markets began coverage on shares of CytomX Therapeutics (NASDAQ:CTMXGet Rating) in a note issued to investors on Thursday, The Fly reports. The firm set an “outperform” rating on the biotechnology company’s stock.

Other equities analysts have also recently issued reports about the stock. HC Wainwright reiterated a “buy” rating and set a $11.00 price objective on shares of CytomX Therapeutics in a research report on Friday, March 4th. Piper Sandler reduced their target price on shares of CytomX Therapeutics from $16.00 to $10.00 in a report on Friday, May 27th. Wedbush reduced their target price on shares of CytomX Therapeutics from $10.00 to $6.00 and set an “outperform” rating on the stock in a report on Tuesday, May 10th. StockNews.com lowered shares of CytomX Therapeutics from a “hold” rating to a “sell” rating in a report on Friday, May 27th. Finally, JPMorgan Chase & Co. reduced their target price on shares of CytomX Therapeutics from $10.00 to $9.00 and set an “overweight” rating on the stock in a report on Wednesday, March 2nd. One analyst has rated the stock with a sell rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $10.71.

CTMX stock traded up $0.07 during trading on Thursday, reaching $1.87. 44,566 shares of the company were exchanged, compared to its average volume of 716,693. The company has a 50-day moving average of $1.78 and a two-hundred day moving average of $3.26. The company has a market capitalization of $122.30 million, a price-to-earnings ratio of -1.32 and a beta of 0.76. CytomX Therapeutics has a twelve month low of $1.51 and a twelve month high of $7.53.

CytomX Therapeutics (NASDAQ:CTMXGet Rating) last released its quarterly earnings data on Thursday, May 5th. The biotechnology company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.02). The company had revenue of $17.14 million for the quarter, compared to analyst estimates of $21.81 million. CytomX Therapeutics had a negative return on equity of 91.89% and a negative net margin of 129.97%. During the same quarter in the prior year, the company earned ($0.26) earnings per share. As a group, research analysts forecast that CytomX Therapeutics will post -1.44 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of CytomX Therapeutics by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 5,222,886 shares of the biotechnology company’s stock valued at $13,945,000 after purchasing an additional 114,895 shares during the last quarter. BlackRock Inc. boosted its stake in CytomX Therapeutics by 0.6% during the first quarter. BlackRock Inc. now owns 4,992,094 shares of the biotechnology company’s stock worth $13,328,000 after acquiring an additional 29,732 shares in the last quarter. Rubric Capital Management LP bought a new position in CytomX Therapeutics during the fourth quarter worth $10,420,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in CytomX Therapeutics during the first quarter worth $3,446,000. Finally, Millennium Management LLC boosted its stake in CytomX Therapeutics by 57.1% during the third quarter. Millennium Management LLC now owns 936,848 shares of the biotechnology company’s stock worth $4,769,000 after acquiring an additional 340,519 shares in the last quarter. 92.34% of the stock is currently owned by institutional investors.

CytomX Therapeutics Company Profile (Get Rating)

CytomX Therapeutics, Inc operates as an oncology-focused biopharmaceutical company in the United States. The company develops antibody therapeutics based on its Probody technology platform for the treatment of cancer. The company's product candidates include CX-2009, an antibody drug conjugates (ADC) against CD166, which is in Phase II clinical trials for the treatment of breast cancer; CX-2029 that is in Phase II clinical trials for the treatment of squamous non-small cell lung cancer, head and neck squamous cell carcinoma, esophageal and gastro-esophageal junction cancers, and diffuse large B-cell lymphoma; BMS-986249, a CTLA-4 Probody therapeutic drug, which is in Phase I/II clinical trials for the treatment of metastatic melanoma; and BMS-986288, an anti-CTLA-4 Probody drug, which is in Phase I clinical trials for the treatment of solid tumors.

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