Zacks Investment Research upgraded shares of CytomX Therapeutics (NASDAQ:CTMX) from a sell rating to a hold rating in a report released on Friday morning.
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. “
Several other equities analysts also recently commented on CTMX. BidaskClub upgraded shares of CytomX Therapeutics from a strong sell rating to a sell rating in a report on Wednesday, October 17th. Cann reiterated a hold rating on shares of CytomX Therapeutics in a report on Tuesday. ValuEngine downgraded shares of CytomX Therapeutics from a strong-buy rating to a buy rating in a report on Wednesday, August 29th. HC Wainwright set a $32.00 price objective on shares of CytomX Therapeutics and gave the company a buy rating in a report on Wednesday, October 24th. Finally, Goldman Sachs Group initiated coverage on shares of CytomX Therapeutics in a research note on Monday, October 15th. They issued a neutral rating and a $21.00 price target on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company’s stock. CytomX Therapeutics presently has an average rating of Buy and an average target price of $34.88.
Shares of NASDAQ:CTMX traded down $1.35 on Friday, hitting $15.00. The company had a trading volume of 417,698 shares, compared to its average volume of 451,645. CytomX Therapeutics has a 1-year low of $12.75 and a 1-year high of $35.00. The company has a market cap of $717.86 million, a P/E ratio of -12.93 and a beta of 1.46.
CytomX Therapeutics (NASDAQ:CTMX) last released its quarterly earnings data on Thursday, November 8th. The biotechnology company reported ($0.53) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.42) by ($0.11). CytomX Therapeutics had a negative net margin of 68.90% and a negative return on equity of 65.03%. The company had revenue of $12.51 million during the quarter, compared to analyst estimates of $16.42 million. On average, equities research analysts expect that CytomX Therapeutics will post -1.73 earnings per share for the current year.
In related news, insider Sean A. Mccarthy sold 13,052 shares of the company’s stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $21.86, for a total value of $285,316.72. Following the transaction, the insider now directly owns 95,115 shares in the company, valued at $2,079,213.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Sean A. Mccarthy sold 6,526 shares of the stock in a transaction dated Friday, November 2nd. The stock was sold at an average price of $15.00, for a total transaction of $97,890.00. The disclosure for this sale can be found here. Insiders sold 28,578 shares of company stock worth $550,757 over the last 90 days. 8.50% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the business. Great West Life Assurance Co. Can grew its stake in CytomX Therapeutics by 174.6% during the second quarter. Great West Life Assurance Co. Can now owns 4,943 shares of the biotechnology company’s stock worth $113,000 after buying an additional 3,143 shares in the last quarter. SG Americas Securities LLC acquired a new stake in CytomX Therapeutics during the second quarter worth about $119,000. WINTON GROUP Ltd acquired a new stake in CytomX Therapeutics during the first quarter worth about $205,000. Xact Kapitalforvaltning AB acquired a new stake in CytomX Therapeutics during the second quarter worth about $206,000. Finally, Capital Fund Management S.A. acquired a new stake in CytomX Therapeutics during the second quarter worth about $247,000. Hedge funds and other institutional investors own 71.53% of the company’s stock.
CytomX Therapeutics Company Profile
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 anti-cancer target; CX-2009, a Probody drug conjugate (PDC) against CD166 novel tumor antigen; 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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