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

StockNews.com downgraded shares of CytomX Therapeutics (NASDAQ:CTMX) from a buy rating to a hold rating in a research note released on Tuesday morning.

Separately, JPMorgan Chase & Co. raised CytomX Therapeutics from an underweight rating to a neutral rating in a research report on Monday, April 22nd.

CytomX Therapeutics Trading Down 0.6 %

CTMX stock opened at $1.59 on Tuesday. The firm has a market cap of $107.69 million, a P/E ratio of -79.46 and a beta of 1.00. CytomX Therapeutics has a 12-month low of $1.04 and a 12-month high of $2.86. The stock’s 50 day simple moving average is $2.06 and its 200 day simple moving average is $1.64.

CytomX Therapeutics (NASDAQ:CTMX) last posted its quarterly earnings results on Monday, March 11th. The biotechnology company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.01). The company had revenue of $26.61 million during the quarter, compared to analyst estimates of $23.36 million. On average, research analysts forecast that CytomX Therapeutics will post -0.29 EPS for the current fiscal year.

Insiders Place Their Bets

In other CytomX Therapeutics news, CEO Sean A. Mccarthy sold 20,223 shares of the stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $2.09, for a total value 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 filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold 35,024 shares of company stock valued at $73,200 over the last three months. Company insiders own 7.00% of the company’s stock.

Institutional Investors Weigh In On CytomX Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Congress Park Capital LLC raised its stake in shares of CytomX Therapeutics by 112.8% during the fourth quarter. Congress Park Capital LLC now owns 239,300 shares of the biotechnology company’s stock valued at $371,000 after purchasing an additional 126,850 shares in the last quarter. AlphaMark Advisors LLC raised 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 purchasing an additional 12,635 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of CytomX Therapeutics by 737.4% during the third quarter. Bank of New York Mellon Corp now owns 266,836 shares of the biotechnology company’s stock valued at $344,000 after purchasing an additional 234,970 shares in the last quarter. 67.77% of the stock is currently owned by institutional investors.

About CytomX Therapeutics

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.