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CytomX Therapeutics Inc (CTMX) fair value: what the stock is really worth

As of Nov 9, 2026: fair value (intrinsic value) of CytomX Therapeutics Inc stock $1.46, price $1.98, that is 26.3% below the price, quality 36 out of 100. Rating: overvalued. The value is an estimate: none of our valuation models currently carries, it draws on revenue and assets compared with similar companies. Updated daily.

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Healthcare US

CT CytomX Therapeutics Inc logo Thin data Nov 10, 2026

CytomX Therapeutics Inc

CTMX · US
Expensive, weak quality

Our calculation puts a fair price 26% below what the stock costs today.

Low debt
Expensive Growth (revenue 5y +2.2 %/yr in USD)
Insiders sold $4,953 (6M)
Revenue last quarter 72% below a year ago.
Fair value $1.46 · Overvalued
Quality 36/100
Loss-making · -22.8% net margin (FY2025)
Negative free cash flow
Trails peers (3/10)
Narrow moat 12/100
Thin data
Estimate
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

$7.39 $0.4315 Fair Value $1.46 Aug 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 10, 2026.

How to read this chart

60‑month range $0.4315 – $7.39 · fair‑value band $1.09 – $1.82 · the $1.98 price screens above the $1.46 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 3 fiscal years are left out: there the valuation rested on only a fraction of the usual models. As of Nov 10, 2026.

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Company profile

CytomX Therapeutics, Inc. operates as an oncology-focused biopharmaceutical company that focuses on developing potent biologics designed to treat tumor microenvironment.

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The company utilizes conditional activation platform technology for oncology biologics research and development comprising the validation of targets for antibody-drug conjugates (ADCs), opening therapeutic window for novel T-cell engagers (TCEs) targeting solid tumors, and increasing the therapeutic index for immune modulators, such as cytokines; and PROBODY platform in preclinical research in areas outside of oncology.

It also develops CX-904, a T-cell engaging bispecific antibody targeting the epidermal growth factor receptor (EGFR) on tumor cells and the CD3 receptor on T cells; CX-2051, a conditionally activated ADC for optimizing the therapeutic index for EpCAM-expressing epithelial cancers, including colorectal cancer; and CX-801, an interferon alpha-2b PROBODY cytokine.

In addition, the company's development pipeline comprises CX-2029, a conditional activated ADC targeting CD71; and BMS-986288, a PROBODY version of non-fucosylated ipilimumab.

It has strategic collaborations with Amgen, Astellas, Bristol Myers Squibb, Regeneron, and Moderna; and clinical trial collaboration and supply agreement with Merck for the evaluation of CX-801 in combination with anti-PD-1 therapy, KEYTRUDA (pembrolizumab).

The company was founded in 2008 and is based in South San Francisco, California.

Stock analysis

CytomX Therapeutics Inc (CTMX) currently trades at $1.98, while our estimate is $1.46, 26% below the price, so the stock looks overvalued today.

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Valuation

None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Scenario range: $1.09 (bear) to $1.82 (bull), the price of $1.98 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 36/100 (below-average quality), in the Healthcare sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

CytomX Therapeutics Inc reported revenue of $76.2M in FY2025 versus $69.6M in FY2021, a compound +2.3%/yr. Reported net income was −$17.4M in FY2025.

Key figures

Market cap $432M Small · P/S ratio 34.0 · EPS (TTM) $−0.5100 · Dividend yield 0.6% · Net margin −22.8% · Return on equity −43.6% · Return on assets (EBIT) −12.2% (5-year average) · Operating margin −1,392%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 12 out of 100 (medium confidence).

What moves the price

The share trades about 71% below its 52-week high and at its 52-week low, currently below its 200-day average.

For context, the median of 10 Healthcare peers we cover trades at −6% fair-value upside, at −26%, CTMX screens richer than that median.

Fair Value

Bear $1.09 Fair Value $1.46 Bull $1.82
Price $1.98 · Downside -26.3%
Estimate. None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Quality Score breakdown

Overall quality 36/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 24
How much profit the company makes from its sales and capital
Quality Growth 10
Are margins and returns getting better?
Cashflow 33
Do the profits arrive as real cash?
Financial strength 57
Debt, balance sheet and risk of trouble
Investment 100
Does it invest with discipline instead of growing at any price?
Low Volatility 0
How calm the share price moves, does not count
Price momentum 0
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 0
Distance to the 52-week high, does not count
New shares 0
Buys back shares or issues new ones?

Open the full quality analysis →

Insider trades

In the last 6 months, one officer or director sold shares worth $4,953 and none bought.

  • SaleChristopher OgdenChief Financial Officer2× since Mar 17, 2026: 20,947 shares, avg. $6.16$129,007Jun 15, 2026
  • SaleMarcia BelvinSVP, Chief Scientific Officer31,492 shares at $6.42$202,179Mar 17, 2026
  • SaleSean A. McCarthyCEO, Director118,969 shares at $6.42$763,781Mar 17, 202610b5-1 plan
  • SaleYu-Waye ChuChief Medical Officer21,279 shares at $6.42$136,611Mar 17, 2026

Plus one other filing such as a grant, option exercise or tax withholding. It is not a market purchase or sale.

Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.

Source: SEC Form 4, as of Nov 9, 2026. All filings at the SEC ↗

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 10/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
−44.8%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+12.8%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+2.2%
Start year 2020 (pandemic). Over 10 years: +25.7% a year
Revenue growth 12 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+44.9%
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−117.7% (2020) → −29.3% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

CTMX screens overvalued: fair value 26% below the price. Compare with Vertex Pharmaceuticals Incorporated →

Compare CytomX Therapeutics Inc with another stock

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Biotechnology · 846 stocks

Beats the industry median on 2/8 measures
Overall it trails its industry peers.
Valuation
Quality Score 36 · Below median
Fair Value upside −26.3% · Above median
Profitability
Return on assets −11.5% · Above median
Net margin (12 months) −22.8% · Below median
Growth and dividend
Revenue growth (quarter YoY) −71.7% · Bottom 25%
Dividend yield (12 months) 0.6% · Below median

Valuation Multiplesvs Biotechnology median · lower = cheaper

P/B 4.36× · Pricier than median
P/S (12 months) 30.77× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 0
FUTURE (revenue growth)0 · sector 0
PAST (return on equity)0 · sector 0
HEALTH (low debt)100 · sector 96
DIVIDEND (yield)13 · sector 20

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Biotechnology stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Regeneron Pharmaceuticals, Inc REGN $919.96 $1,275 +39% vs CTMX
Samsung Biologics Co 207940 1,468,000 KRW 1,661,000 KRW +13% vs CTMX
Vertex Pharmaceuticals Incorporated VRTX $550.87 $601.80 +9% vs CTMX
Genmab A/S GMAB kr 3,581 kr 3,880 +8% vs CTMX
argenx SE ARGX $962.27 $908.40 −6% vs CTMX
CSL Limited CSL A$200.73 A$181.40 −10% vs CTMX
BeOne Medicines AG 6160 HK$252.20 HK$152.80 −39% vs CTMX
Moderna, Inc MRNA $269.00 $158.70 −41% vs CTMX
Celltrion, Inc 068270 203,000 KRW 74,945 KRW −63% vs CTMX
Royalty Pharma plc RPRX $68.77 $19.01 −72% vs CTMX

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CytomX Therapeutics Inc: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "CytomX Therapeutics Inc Fair Value". https://www.fairvalue-calculator.com/stock/CTMX

Frequently asked questions

Is CytomX Therapeutics Inc (CTMX) overvalued or undervalued?
As of Nov 10, 2026, our estimate of fair value is $1.46 versus a price of $1.98, about 26% lower (overvalued).
What is the fair value of CTMX?
Our estimate for CytomX Therapeutics Inc is $1.46 (as of Nov 10, 2026), built from audited fundamentals. The current price: $1.98.
What is the quality score of CTMX?
CytomX Therapeutics Inc has a Quality Score of 36/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for CytomX Therapeutics Inc (CTMX)?
Our calculated price target is the estimate of $1.46 (as of Nov 10, 2026). Cautious scenario $1.09, optimistic scenario $1.82. It is an estimate from revenue and assets compared with similar companies, because none of our valuation models currently carries, not an analyst target.
What is the CytomX Therapeutics Inc stock forecast for 2026?
Our estimate puts fair value at $1.46, about 26% lower versus a price of $1.98 (overvalued). Cautious scenario $1.09, optimistic scenario $1.82. The calculation is refreshed regularly with new filings.
Does CytomX Therapeutics Inc pay a dividend?
CytomX Therapeutics Inc currently shows a dividend yield of 0.63% relative to its recent price (as of Nov 10, 2026).
How much is the dividend of CytomX Therapeutics Inc (CTMX)?
CytomX Therapeutics Inc has a dividend yield of 0.6%.
What is the intrinsic value of CytomX Therapeutics Inc (CTMX)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For CytomX Therapeutics Inc it is $1.46 per share (as of Nov 10, 2026), against a price of $1.98.
Is CytomX Therapeutics Inc stock overvalued or undervalued in 2026?
As of Nov 10, 2026, CTMX trades above its calculated fair value: price $1.98, fair value $1.46, a gap of about −26% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of CTMX?
No. The price is what the market pays today ($1.98); the fair value is what the company's own numbers justify ($1.46). For CytomX Therapeutics Inc the two are $0.5200 per share apart. That gap is exactly why we show both numbers side by side.
How much is CytomX Therapeutics Inc worth?
The market values CytomX Therapeutics Inc at about $432M (market capitalisation, as of Nov 10, 2026). Per share that is $1.98; our models calculate a fair value of $1.46 per share.
What do the bullish and bearish scenarios say about CTMX?
Our models span a range for CytomX Therapeutics Inc: cautious scenario $1.09, base $1.46, optimistic $1.82 per share (as of Nov 10, 2026, price $1.98). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of CytomX Therapeutics Inc (CTMX)?
Balance-sheet figures for CytomX Therapeutics Inc (as of Nov 10, 2026): return on equity −43.6%. They feed the Quality Score of 36/100, which measures business quality independently of the share price.
How far is CTMX from its 52-week high?
CytomX Therapeutics Inc trades at $1.98, about 71% below its 52-week high of $6.75 and at the low of $1.98 (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of $1.46 is for.
Which stocks are comparable to CytomX Therapeutics Inc?
From the same area (Healthcare) we also value Vertex Pharmaceuticals Incorporated, Moderna, Inc, Regeneron Pharmaceuticals, Inc, CSL Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is CytomX Therapeutics Inc stock attractive at the current price?
The data as of Nov 10, 2026: price $1.98, calculated fair value $1.46 (−26%), Quality Score 36/100. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
Is it still worth investing in stocks now?
The global stock market currently sits 15.2% above its aggregate fair value. CytomX Therapeutics Inc itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of CytomX Therapeutics Inc (CTMX)?
The closing price on Nov 9, 2026 was $1.98. Our estimate is $1.46, about 26% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with CytomX Therapeutics Inc right now?
The price sits above even our optimistic bull case ($1.82). The favourable scenario is already priced in. Weak quality (36/100) and above fair value at the same time, the margin of safety is missing on both counts. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Key figures of CytomX Therapeutics Inc

How large is the market capitalisation of CytomX Therapeutics Inc (CTMX)?
The market capitalisation of CytomX Therapeutics Inc is $432M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of CytomX Therapeutics Inc (CTMX)?
The price-to-sales ratio of CytomX Therapeutics Inc is 34.0 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of CytomX Therapeutics Inc (CTMX)?
Earnings per share at CytomX Therapeutics Inc are $−0.5100. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of CytomX Therapeutics Inc (CTMX)?
The dividend yield of CytomX Therapeutics Inc is 0.6%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of CytomX Therapeutics Inc (CTMX)?
The net margin of CytomX Therapeutics Inc is −22.8% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of CytomX Therapeutics Inc (CTMX)?
The return on equity (ROE) of CytomX Therapeutics Inc is −43.6% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of CytomX Therapeutics Inc (CTMX)?
On an EBIT basis the return on assets of CytomX Therapeutics Inc is −12.2% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of CytomX Therapeutics Inc (CTMX)?
The operating margin of CytomX Therapeutics Inc is −1,392% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at CytomX Therapeutics Inc (CTMX)?
Revenue at CytomX Therapeutics Inc is growing −71.7% versus a year earlier (3y avg +12.8%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at CytomX Therapeutics Inc (CTMX)?
Earnings per share at CytomX Therapeutics Inc are growing +60.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does CytomX Therapeutics Inc (CTMX) generate?
The free cash flow of CytomX Therapeutics Inc is −$75.8M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does CytomX Therapeutics Inc (CTMX) hold?
CytomX Therapeutics Inc holds more cash than debt, $8.4M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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