Insider Selling: CytomX Therapeutics, Inc. (CTMX) Major Shareholder Sells 24,777 Shares of Stock
CytomX Therapeutics, Inc. (NASDAQ:CTMX) major shareholder Robert I. Tepper sold 24,777 shares of the company’s stock in a transaction that occurred on Wednesday, October 4th. The shares were sold at an average price of $24.34, for a total value of $603,072.18. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
Shares of CytomX Therapeutics, Inc. (CTMX) traded up 21.53% during mid-day trading on Wednesday, hitting $23.09. The stock had a trading volume of 3,352,455 shares. The stock’s market cap is $851.26 million. The firm has a 50 day moving average of $16.66 and a 200 day moving average of $15.57. CytomX Therapeutics, Inc. has a one year low of $9.85 and a one year high of $24.67.
CytomX Therapeutics (NASDAQ:CTMX) last posted its earnings results on Monday, August 7th. The biotechnology company reported ($0.69) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.30). CytomX Therapeutics had a negative net margin of 206.33% and a negative return on equity of 84.61%. The firm had revenue of $8.75 million during the quarter, compared to the consensus estimate of $4.95 million. On average, analysts forecast that CytomX Therapeutics, Inc. will post ($1.49) earnings per share for the current year.
Several large investors have recently bought and sold shares of the company. California State Teachers Retirement System raised its stake in shares of CytomX Therapeutics by 27.8% in the second quarter. California State Teachers Retirement System now owns 51,430 shares of the biotechnology company’s stock valued at $797,000 after acquiring an additional 11,200 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of CytomX Therapeutics by 36.9% in the second quarter. The Manufacturers Life Insurance Company now owns 23,529 shares of the biotechnology company’s stock valued at $365,000 after acquiring an additional 6,342 shares during the last quarter. Redmile Group LLC raised its stake in shares of CytomX Therapeutics by 2.4% in the second quarter. Redmile Group LLC now owns 698,392 shares of the biotechnology company’s stock valued at $10,825,000 after acquiring an additional 16,500 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of CytomX Therapeutics in the second quarter valued at approximately $174,000. Finally, State Street Corp raised 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 acquiring an additional 165,342 shares during the last quarter. Institutional investors own 59.97% of the company’s stock.
A number of analysts have recently weighed in on the company. BidaskClub upgraded CytomX Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, August 9th. Nomura increased their price target on CytomX Therapeutics to $44.00 and gave the stock a “buy” rating in a research report on Wednesday. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of CytomX Therapeutics in a research report on Wednesday. Cowen and Company reiterated a “buy” rating on shares of CytomX Therapeutics in a research report on Tuesday, August 8th. Finally, Bank of America Corporation reiterated a “buy” rating and set a $30.00 price target (up from $28.00) on shares of CytomX Therapeutics in a research report on Wednesday, August 9th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $30.43.
CytomX Therapeutics Company Profile
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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