Stock Traders Buy Large Volume of CytomX Therapeutics Put Options (NASDAQ:CTMX)

CytomX Therapeutics, Inc. (NASDAQ:CTMX) was the target of unusually large options trading activity on Thursday. Investors purchased 8,402 put options on the company. This represents an increase of approximately 186% compared to the typical volume of 2,936 put options.

CytomX Therapeutics Stock Performance

CTMX opened at $3.62 on Friday. CytomX Therapeutics has a one year low of $1.72 and a one year high of $8.21. The stock has a market capitalization of $616.09 million, a P/E ratio of -8.83 and a beta of 2.08. The business’s 50-day simple moving average is $3.48 and its 200-day simple moving average is $4.37.

CytomX Therapeutics (NASDAQ:CTMX) last posted its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.04. CytomX Therapeutics had a negative net margin of 166.40% and a negative return on equity of 36.61%. The firm had revenue of $10.26 million for the quarter, compared to analyst estimates of $4.68 million. On average, equities research analysts forecast that CytomX Therapeutics will post -0.45 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on CTMX shares. Piper Sandler upped their price target on CytomX Therapeutics from $10.00 to $12.00 and gave the stock an “overweight” rating in a research note on Monday, March 23rd. HC Wainwright lowered their target price on CytomX Therapeutics from $17.00 to $11.00 and set a “buy” rating for the company in a report on Monday, May 11th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of CytomX Therapeutics in a research report on Tuesday, June 16th. Wall Street Zen raised shares of CytomX Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, Wolfe Research assumed coverage on shares of CytomX Therapeutics in a research note on Tuesday, May 19th. They issued an “outperform” rating and a $6.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $12.10.

Institutional Trading of CytomX Therapeutics

Several institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE raised its position in CytomX Therapeutics by 1,064.3% in the first quarter. Bank of America Corp DE now owns 10,202,785 shares of the biotechnology company’s stock valued at $47,953,000 after purchasing an additional 9,326,480 shares during the period. Perceptive Advisors LLC lifted its position in CytomX Therapeutics by 4.3% during the 1st quarter. Perceptive Advisors LLC now owns 10,098,824 shares of the biotechnology company’s stock worth $47,464,000 after acquiring an additional 418,639 shares in the last quarter. Orbimed Advisors LLC purchased a new position in CytomX Therapeutics in the 2nd quarter worth approximately $19,208,000. Commodore Capital LP purchased a new position in CytomX Therapeutics in the 2nd quarter worth approximately $17,462,000. Finally, State Street Corp grew its position in CytomX Therapeutics by 697.1% in the fourth quarter. State Street Corp now owns 5,140,931 shares of the biotechnology company’s stock valued at $21,900,000 after acquiring an additional 4,495,949 shares in the last quarter. 67.77% of the stock is owned by hedge funds and other institutional investors.

CytomX Therapeutics Company Profile

CytomX Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of next-generation therapeutics based on its proprietary Probody® platform. The company engineers masked antibody prodrugs that remain inactive in healthy tissue but are selectively activated in the tumor microenvironment. This approach is designed to enhance the safety and tolerability of antibody-based therapies, particularly those targeting immuno-oncology pathways.

At the core of CytomX’s pipeline is Pacmilimab (CX-072), an anti–PD-L1 Probody therapeutic currently undergoing clinical evaluation for multiple solid tumor indications.