CytomX Therapeutics (NASDAQ:CTMX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday, Zacks.com reports. The brokerage currently has a $8.25 price objective on the biotechnology company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 15.79% from the company’s current price.

According to Zacks, “CytomX Therapeutics, Inc. is an oncology focused biopharmaceutical company. The Company is engaged in developing Probody(TM) therapeutics for the treatment of cancer. Its pipeline focuses areas consist of Precision cancer immunotherapy and Probody drug conjugates. CytomX Therapeutics, Inc. is headquartered in South San Francisco, California. “

CTMX has been the subject of a number of other reports. Guggenheim started coverage on CytomX Therapeutics in a research report on Wednesday, November 27th. They issued a “buy” rating and a $16.00 price target for the company. Wedbush lowered CytomX Therapeutics from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $25.00 to $8.00 in a research report on Monday, November 11th. Mizuho started coverage on CytomX Therapeutics in a research report on Thursday, December 19th. They issued a “buy” rating and a $16.00 price target for the company. HC Wainwright reissued a “buy” rating and issued a $14.00 price target on shares of CytomX Therapeutics in a research report on Monday. Finally, BidaskClub raised CytomX Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $15.69.

NASDAQ CTMX traded down $0.13 on Thursday, reaching $7.13. The company had a trading volume of 291,290 shares, compared to its average volume of 382,444. The stock has a market capitalization of $323.69 million, a P/E ratio of -3.25 and a beta of 0.77. The company’s fifty day moving average is $7.40 and its 200 day moving average is $7.55. CytomX Therapeutics has a 52-week low of $5.10 and a 52-week high of $12.63. The company has a quick ratio of 4.40, a current ratio of 4.40 and a debt-to-equity ratio of 0.31.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. raised its position in CytomX Therapeutics by 8.3% in the 4th quarter. Victory Capital Management Inc. now owns 2,840,592 shares of the biotechnology company’s stock valued at $21,077,000 after buying an additional 218,470 shares during the last quarter. Renaissance Technologies LLC grew its stake in CytomX Therapeutics by 34.7% in the 4th quarter. Renaissance Technologies LLC now owns 2,063,271 shares of the biotechnology company’s stock valued at $17,146,000 after purchasing an additional 530,971 shares during the period. Candriam Luxembourg S.C.A. grew its stake in CytomX Therapeutics by 7.8% in the 4th quarter. Candriam Luxembourg S.C.A. now owns 741,144 shares of the biotechnology company’s stock valued at $6,159,000 after purchasing an additional 53,311 shares during the period. Point72 Asset Management L.P. bought a new position in CytomX Therapeutics in the 4th quarter valued at $5,992,000. Finally, Geode Capital Management LLC grew its stake in CytomX Therapeutics by 6.4% in the 4th quarter. Geode Capital Management LLC now owns 656,257 shares of the biotechnology company’s stock valued at $5,453,000 after purchasing an additional 39,211 shares during the period. 79.24% of the stock is owned by institutional investors and hedge funds.

About CytomX Therapeutics

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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