CytomX Therapeutics (NASDAQ:CTMX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors 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. “
A number of other equities analysts also recently commented on the stock. Cantor Fitzgerald started coverage on shares of CytomX Therapeutics in a report on Monday, October 23rd. They set an “overweight” rating and a $35.00 price objective for the company. ValuEngine downgraded shares of CytomX Therapeutics from a “hold” rating to a “sell” rating in a report on Friday, December 1st. Citigroup started coverage on shares of CytomX Therapeutics in a report on Friday, January 5th. They set a “buy” rating and a $40.00 price objective for the company. Finally, BidaskClub downgraded shares of CytomX Therapeutics from a “buy” rating to a “hold” rating in a report on Thursday, December 7th. Three analysts have rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. CytomX Therapeutics presently has an average rating of “Buy” and an average target price of $32.78.
CytomX Therapeutics (CTMX) traded up $0.07 during trading hours on Monday, hitting $27.85. 273,198 shares of the stock were exchanged, compared to its average volume of 330,119. The company has a market cap of $1,070.00 and a P/E ratio of -17.74. CytomX Therapeutics has a one year low of $11.44 and a one year high of $29.04.
In related news, CFO Debanjan Ray sold 2,500 shares of CytomX Therapeutics stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $20.58, for a total transaction of $51,450.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sean A. Mccarthy sold 14,340 shares of CytomX Therapeutics stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $20.60, for a total transaction of $295,404.00. The disclosure for this sale can be found here. Insiders have sold a total of 56,466 shares of company stock valued at $1,267,014 over the last three months. 8.00% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the stock. Macquarie Group Ltd. bought a new position in CytomX Therapeutics during the 3rd quarter valued at about $107,000. Bank of Montreal Can bought a new position in CytomX Therapeutics during the 4th quarter valued at about $124,000. Cubist Systematic Strategies LLC bought a new position in CytomX Therapeutics during the 2nd quarter valued at about $174,000. Voya Investment Management LLC bought a new position in CytomX Therapeutics during the 2nd quarter valued at about $203,000. Finally, MetLife Investment Advisors LLC bought a new position in CytomX Therapeutics during the 4th quarter valued at about $245,000. 75.31% 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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