CytomX Therapeutics, Inc. (CTMX) Downgraded by ValuEngine to “Sell”
CytomX Therapeutics, Inc. (NASDAQ:CTMX) was downgraded by research analysts at ValuEngine from a “hold” rating to a “sell” rating in a report issued on Friday.
CTMX has been the subject of a number of other research reports. Wedbush initiated coverage on shares of CytomX Therapeutics in a research report on Thursday, September 7th. They set an “outperform” rating and a $26.00 price objective for the company. Zacks Investment Research downgraded shares of CytomX Therapeutics from a “buy” rating to a “hold” rating in a research report on Monday, May 29th. Jefferies Group LLC set a $25.00 price objective on shares of CytomX Therapeutics and gave the stock a “buy” rating in a research report on Friday, August 25th. Bank of America Corporation restated a “buy” rating and set a $30.00 price objective (up previously from $28.00) on shares of CytomX Therapeutics in a research report on Wednesday, August 9th. Finally, BidaskClub upgraded shares of CytomX Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, August 9th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $25.67.
Shares of CytomX Therapeutics (NASDAQ CTMX) traded up 4.28% on Friday, hitting $17.31. 1,152,874 shares of the company traded hands. CytomX Therapeutics has a 12 month low of $9.85 and a 12 month high of $20.02. The stock’s 50-day moving average price is $15.25 and its 200-day moving average price is $15.24. The company’s market capitalization is $638.17 million.
CytomX Therapeutics (NASDAQ:CTMX) last announced its quarterly earnings data on Monday, August 7th. The biotechnology company reported ($0.69) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.39) by ($0.30). The firm had revenue of $8.75 million for the quarter, compared to analysts’ expectations of $4.95 million. CytomX Therapeutics had a negative return on equity of 84.61% and a negative net margin of 206.33%. On average, equities analysts predict that CytomX Therapeutics will post ($1.49) earnings per share for the current year.
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In other news, Director Frederick W. Gluck sold 5,000 shares of the stock in a transaction dated Monday, June 26th. The shares were sold at an average price of $14.61, for a total value of $73,050.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sean A. Mccarthy sold 4,481 shares of the stock in a transaction dated Monday, June 26th. The shares were sold at an average price of $15.00, for a total transaction of $67,215.00. Following the completion of the transaction, the insider now owns 8,726 shares of the company’s stock, valued at approximately $130,890. The disclosure for this sale can be found here. Insiders sold a total of 70,229 shares of company stock valued at $1,145,499 in the last quarter. Insiders own 4.70% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in CTMX. Legal & General Group Plc increased its holdings in shares of CytomX Therapeutics by 28.6% in the 2nd quarter. Legal & General Group Plc now owns 6,448 shares of the biotechnology company’s stock valued at $101,000 after purchasing an additional 1,434 shares in the last quarter. Hillsdale Investment Management Inc. purchased a new position in shares of CytomX Therapeutics in the 1st quarter valued at about $159,000. First Quadrant L P CA purchased a new position in shares of CytomX Therapeutics in the 2nd quarter valued at about $160,000. Cubist Systematic Strategies LLC purchased a new position in shares of CytomX Therapeutics in the 2nd quarter valued at about $174,000. Finally, Goldman Sachs Group Inc. purchased a new position in shares of CytomX Therapeutics in the 1st quarter valued at about $190,000. Institutional investors and hedge funds own 59.97% of the company’s stock.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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