CytomX Therapeutics (CTMX) Stock Rating Upgraded by Zacks Investment Research

CytomX Therapeutics (NASDAQ:CTMX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Friday.

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. “

Several other equities research analysts have also weighed in on the company. Cann restated a “hold” rating on shares of CytomX Therapeutics in a research report on Tuesday. BidaskClub lowered CytomX Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 24th. HC Wainwright set a $32.00 price target on CytomX Therapeutics and gave the company a “buy” rating in a research report on Wednesday, October 24th. Goldman Sachs Group started coverage on CytomX Therapeutics in a research note on Monday, October 15th. They set a “neutral” rating and a $21.00 price objective for the company. Finally, ValuEngine cut CytomX Therapeutics from a “buy” rating to a “hold” rating in a research note on Monday, September 17th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $34.88.

Shares of NASDAQ CTMX traded down $1.35 during mid-day trading on Friday, hitting $15.00. 417,698 shares of the stock traded hands, compared to its average volume of 402,776. CytomX Therapeutics has a 52 week low of $12.75 and a 52 week high of $35.00. The firm has a market capitalization of $573.29 million, a PE ratio of -12.93 and a beta of 1.46.

CytomX Therapeutics (NASDAQ:CTMX) last released its quarterly earnings results on Thursday, November 8th. The biotechnology company reported ($0.53) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.42) by ($0.11). CytomX Therapeutics had a negative net margin of 68.90% and a negative return on equity of 96.63%. The firm had revenue of $12.51 million for the quarter, compared to the consensus estimate of $16.42 million. On average, research analysts predict that CytomX Therapeutics will post -1.58 EPS for the current year.

In other CytomX Therapeutics news, CFO Debanjan Ray sold 3,000 shares of CytomX Therapeutics stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $22.39, for a total transaction of $67,170.00. Following the completion of the transaction, the chief financial officer now owns 8,928 shares in the company, valued at $199,897.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sean A. Mccarthy sold 6,526 shares of CytomX Therapeutics stock in a transaction on Friday, November 2nd. The shares were sold at an average price of $15.00, for a total value of $97,890.00. The disclosure for this sale can be found here. Insiders have sold 28,578 shares of company stock valued at $550,757 in the last quarter. 8.50% of the stock is owned by company insiders.

A number of large investors have recently made changes to their positions in the business. FMR LLC raised its stake in CytomX Therapeutics by 15.4% during the third quarter. FMR LLC now owns 6,744,553 shares of the biotechnology company’s stock valued at $124,774,000 after buying an additional 900,927 shares during the last quarter. BlackRock Inc. raised its stake in shares of CytomX Therapeutics by 19.9% in the third quarter. BlackRock Inc. now owns 3,868,566 shares of the biotechnology company’s stock worth $71,570,000 after purchasing an additional 642,165 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of CytomX Therapeutics by 46.8% in the second quarter. Renaissance Technologies LLC now owns 1,411,500 shares of the biotechnology company’s stock worth $32,267,000 after purchasing an additional 450,300 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of CytomX Therapeutics by 658.9% in the third quarter. Victory Capital Management Inc. now owns 890,400 shares of the biotechnology company’s stock worth $16,472,000 after purchasing an additional 773,080 shares during the last quarter. Finally, Aquilo Capital Management LLC purchased a new position in shares of CytomX Therapeutics in the second quarter worth $14,853,000. Institutional investors and hedge funds own 71.53% of the company’s stock.

CytomX Therapeutics Company Profile

CytomX Therapeutics, Inc operates as an oncology-focused biopharmaceutical company in the United States. The company develops a novel class of investigational antibody therapeutics based on its Probody technology platform for the treatment of cancer. Its product candidates in clinical stage include CX-072, a Probody therapeutic targeting programmed cell death ligand 1 anti-cancer target; CX-2009, a Probody drug conjugate (PDC) against CD166 novel tumor antigen; BMS-986249, a CTLA-4 Probody therapeutic drug; CX-2029, a PDC targeting CD71; and CX-188, a Probody therapeutic targeting PD-1 anti-cancer target.

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