CytomX Therapeutics (NASDAQ:CTMX) Downgraded by StockNews.com to “Hold”

StockNews.com downgraded shares of CytomX Therapeutics (NASDAQ:CTMX) from a buy rating to a hold rating in a report published on Tuesday.

Separately, JPMorgan Chase & Co. upgraded CytomX Therapeutics from an underweight rating to a neutral rating in a research note on Monday.

CytomX Therapeutics Price Performance

Shares of NASDAQ:CTMX opened at $1.68 on Tuesday. CytomX Therapeutics has a 1-year low of $1.04 and a 1-year high of $2.86. The business has a fifty day moving average price of $2.05 and a 200-day moving average price of $1.64. The company has a market capitalization of $113.79 million, a PE ratio of -83.96 and a beta of 1.01.

CytomX Therapeutics (NASDAQ:CTMX) last released its quarterly earnings data on Monday, March 11th. The biotechnology company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.01). The firm had revenue of $26.61 million for the quarter, compared to analysts’ expectations of $23.36 million. On average, sell-side analysts anticipate that CytomX Therapeutics will post -0.21 earnings per share for the current fiscal year.

Insider Buying and Selling at CytomX Therapeutics

In other CytomX Therapeutics news, CEO Sean A. Mccarthy sold 20,223 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $2.09, for a total transaction of $42,266.07. Following the sale, the chief executive officer now directly owns 524,481 shares of the company’s stock, valued at $1,096,165.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last ninety days, insiders sold 35,024 shares of company stock valued at $73,200. Insiders own 7.00% of the company’s stock.

Hedge Funds Weigh In On CytomX Therapeutics

Several hedge funds have recently added to or reduced their stakes in the company. AlphaMark Advisors LLC grew its stake in shares of CytomX Therapeutics by 119.8% during the fourth quarter. AlphaMark Advisors LLC now owns 23,183 shares of the biotechnology company’s stock valued at $36,000 after buying an additional 12,635 shares during the last quarter. Congress Park Capital LLC boosted its holdings in CytomX Therapeutics by 112.8% during the 4th quarter. Congress Park Capital LLC now owns 239,300 shares of the biotechnology company’s stock valued at $371,000 after acquiring an additional 126,850 shares during the period. Finally, Bank of New York Mellon Corp grew its position in CytomX Therapeutics by 737.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 266,836 shares of the biotechnology company’s stock valued at $344,000 after acquiring an additional 234,970 shares during the last quarter. 67.77% of the stock is currently owned by institutional investors.

CytomX Therapeutics Company Profile

CytomX Therapeutics, Inc, an oncology-focused biopharmaceutical company, focuses on developing novel conditionally activated biologics localized to the tumor microenvironment. The company utilizes conditional activation platform technology for oncology biologics research and development comprising the validation of targets for antibody-drug conjugates (ADCs), opening therapeutic window for novel T-cell engagers (TCEs) targeting solid tumors, and increasing the therapeutic index for immune modulators, such as cytokines; and PROBODY platform in preclinical research in areas outside of oncology.