CytomX Therapeutics (CTMX) Now Covered by Analysts at Citigroup

Analysts at Citigroup started coverage on shares of CytomX Therapeutics (NASDAQ:CTMX) in a research report issued to clients and investors on Friday, Marketbeat reports. The brokerage set a “buy” rating and a $40.00 price target on the biotechnology company’s stock. Citigroup’s price target would indicate a potential upside of 60.84% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. BidaskClub raised shares of CytomX Therapeutics from a “hold” rating to a “buy” rating in a research report on Friday, December 15th. Cowen reissued an “outperform” rating on shares of CytomX Therapeutics in a report on Thursday, October 5th. Oppenheimer reissued a “hold” rating on shares of CytomX Therapeutics in a report on Wednesday, October 4th. Wedbush set a $37.00 target price on shares of CytomX Therapeutics and gave the stock a “buy” rating in a report on Wednesday, October 4th. Finally, Cantor Fitzgerald assumed coverage on shares of CytomX Therapeutics in a report on Monday, October 23rd. They issued an “overweight” rating and a $35.00 target price for the company. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $32.78.

Shares of CytomX Therapeutics (NASDAQ:CTMX) opened at $24.87 on Friday. CytomX Therapeutics has a 52-week low of $10.64 and a 52-week high of $25.21. The firm has a market cap of $1,040.00 and a PE ratio of -15.84.

In other news, insider Sean A. Mccarthy sold 14,340 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $20.60, for a total value of $295,404.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Debanjan Ray sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $20.00, for a total value of $50,000.00. Following the completion of the transaction, the chief financial officer now directly owns 12,126 shares of the company’s stock, valued at approximately $242,520. The disclosure for this sale can be found here. Insiders sold 54,234 shares of company stock valued at $1,120,525 in the last ninety days. 4.70% of the stock is currently owned by insiders.

Several institutional investors have recently added to or reduced their stakes in CTMX. Numeric Investors LLC acquired a new position in shares of CytomX Therapeutics in the second quarter valued at approximately $9,730,000. State Street Corp increased its stake in shares of CytomX Therapeutics by 58.8% in the second quarter. State Street Corp now owns 446,315 shares of the biotechnology company’s stock valued at $6,914,000 after buying an additional 165,342 shares during the period. OxFORD Asset Management LLP increased its stake in shares of CytomX Therapeutics by 425.6% in the third quarter. OxFORD Asset Management LLP now owns 166,079 shares of the biotechnology company’s stock valued at $3,001,000 after buying an additional 134,484 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of CytomX Therapeutics by 1,063.5% in the second quarter. Goldman Sachs Group Inc. now owns 127,776 shares of the biotechnology company’s stock valued at $1,980,000 after buying an additional 116,794 shares during the period. Finally, American Century Companies Inc. increased its stake in shares of CytomX Therapeutics by 185.3% in the third quarter. American Century Companies Inc. now owns 169,799 shares of the biotechnology company’s stock valued at $3,085,000 after buying an additional 110,283 shares during the period. 63.13% of the stock is owned by institutional investors.

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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.

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