CytomX Therapeutics, Inc. (NASDAQ:CTMX) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Saturday.
A number of other equities research analysts have also issued reports on the company. Cowen and Company reaffirmed a “buy” rating on shares of CytomX Therapeutics in a research note on Wednesday, June 28th. Zacks Investment Research raised CytomX Therapeutics from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research note on Wednesday, May 3rd. HC Wainwright started coverage on CytomX Therapeutics in a research note on Monday, March 27th. They set a “buy” rating and a $24.00 price target on the stock. ValuEngine lowered CytomX Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, May 11th. Finally, Jefferies Group LLC reissued a “buy” rating and set a $25.00 price target on shares of CytomX Therapeutics in a research note on Tuesday, June 6th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $24.50.
CytomX Therapeutics (NASDAQ:CTMX) traded up 1.83% during midday trading on Friday, reaching $16.18. The company’s stock had a trading volume of 138,675 shares. The stock’s market capitalization is $594.60 million. CytomX Therapeutics has a 52 week low of $9.54 and a 52 week high of $20.02. The firm’s 50-day moving average price is $14.35 and its 200-day moving average price is $13.85.
CytomX Therapeutics (NASDAQ:CTMX) last posted its earnings results on Friday, May 5th. The biotechnology company reported ($0.23) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.32. CytomX Therapeutics had a negative return on equity of 59.65% and a negative net margin of 208.92%. The firm had revenue of $11.65 million for the quarter, compared to analyst estimates of $2.10 million. On average, analysts anticipate that CytomX Therapeutics will post ($1.36) earnings per share for the current year.
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In other CytomX Therapeutics news, major shareholder Kevin P. Starr sold 28,357 shares of the stock in a transaction on Wednesday, April 12th. The stock was sold at an average price of $16.36, for a total transaction of $463,920.52. Following the transaction, the insider now owns 31,419 shares of the company’s stock, valued at approximately $514,014.84. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Robert I. Tepper sold 15,000 shares of the stock in a transaction on Thursday, June 29th. The stock was sold at an average price of $16.00, for a total value of $240,000.00. Following the transaction, the insider now directly owns 44,777 shares in the company, valued at approximately $716,432. The disclosure for this sale can be found here. In the last three months, insiders have sold 65,200 shares of company stock worth $1,036,623. Corporate insiders own 4.70% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Highbridge Capital Management LLC acquired a new position in shares of CytomX Therapeutics during the fourth quarter worth $158,000. Hillsdale Investment Management Inc. acquired a new position in shares of CytomX Therapeutics during the first quarter worth $159,000. Trexquant Investment LP acquired a new position in shares of CytomX Therapeutics during the fourth quarter worth $186,000. Goldman Sachs Group Inc. acquired a new position in shares of CytomX Therapeutics during the first quarter worth $190,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of CytomX Therapeutics during the first quarter worth $206,000. 52.28% of the stock is currently owned by institutional investors.
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.