CytomX Therapeutics (NASDAQ:CTMX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Monday.
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. “
CTMX has been the subject of a number of other research reports. Bank of America lifted their target price on shares of CytomX Therapeutics from $34.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday. Citigroup initiated coverage on shares of CytomX Therapeutics in a research note on Friday, January 5th. They set a “buy” rating and a $40.00 target price for the company. ValuEngine downgraded shares of CytomX Therapeutics from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. BidaskClub downgraded shares of CytomX Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, December 7th. Finally, Cantor Fitzgerald set a $40.00 price target on shares of CytomX Therapeutics and gave the company a “buy” rating in a research note on Thursday. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $35.67.
In other CytomX Therapeutics news, CFO Debanjan Ray sold 2,500 shares of CytomX Therapeutics stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $21.11, for a total value of $52,775.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sean A. Mccarthy sold 13,052 shares of CytomX Therapeutics stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $21.04, for a total transaction of $274,614.08. Following the completion of the sale, the insider now directly owns 17,695 shares of the company’s stock, valued at $372,302.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 132,626 shares of company stock valued at $3,709,830. Insiders own 8.00% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new stake in CytomX Therapeutics in the fourth quarter valued at $422,000. Sterling Capital Management LLC bought a new stake in shares of CytomX Therapeutics during the fourth quarter worth about $798,000. MetLife Investment Advisors LLC bought a new stake in shares of CytomX Therapeutics during the fourth quarter worth about $245,000. Iguana Healthcare Management LLC increased its position in shares of CytomX Therapeutics by 7.1% during the fourth quarter. Iguana Healthcare Management LLC now owns 75,000 shares of the biotechnology company’s stock worth $1,583,000 after acquiring an additional 5,000 shares in the last quarter. Finally, Redmile Group LLC increased its position in shares of CytomX Therapeutics by 9.5% during the fourth quarter. Redmile Group LLC now owns 418,680 shares of the biotechnology company’s stock worth $8,838,000 after acquiring an additional 36,409 shares in the last quarter. 78.50% of the stock is owned by hedge funds and other 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.
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