Investors Buy High Volume of CytomX Therapeutics Put Options (NASDAQ:CTMX)

CytomX Therapeutics, Inc. (NASDAQ:CTMX) was the target of unusually large options trading on Wednesday. Traders bought 5,310 put options on the stock. This represents an increase of 644% compared to the typical volume of 714 put options.

Institutional Investors Weigh In On CytomX Therapeutics

A number of large investors have recently added to or reduced their stakes in CTMX. Robertson Stephens Wealth Management LLC boosted its holdings in shares of CytomX Therapeutics by 129.2% in the 3rd quarter. Robertson Stephens Wealth Management LLC now owns 220,000 shares of the biotechnology company’s stock worth $598,000 after purchasing an additional 124,000 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of CytomX Therapeutics by 224.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,181,259 shares of the biotechnology company’s stock valued at $3,213,000 after purchasing an additional 817,086 shares during the last quarter. Engineers Gate Manager LP increased its position in shares of CytomX Therapeutics by 182.0% during the 2nd quarter. Engineers Gate Manager LP now owns 83,130 shares of the biotechnology company’s stock valued at $312,000 after purchasing an additional 53,653 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in shares of CytomX Therapeutics during the 2nd quarter valued at about $47,000. Finally, Pale Fire Capital SE purchased a new position in shares of CytomX Therapeutics during the 2nd quarter valued at about $86,000. Hedge funds and other institutional investors own 67.77% of the company’s stock.

CytomX Therapeutics Trading Down 3.8%

Shares of CytomX Therapeutics stock traded down $0.10 on Wednesday, hitting $2.42. 1,184,004 shares of the company traded hands, compared to its average volume of 4,664,999. CytomX Therapeutics has a 12-month low of $2.20 and a 12-month high of $8.21. The company has a market cap of $526.23 million, a P/E ratio of -4.85 and a beta of 2.21. The firm’s 50-day simple moving average is $3.00 and its 200 day simple moving average is $3.45.

CytomX Therapeutics (NASDAQ:CTMX) last announced its earnings results on Thursday, August 6th. The biotechnology company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.01). CytomX Therapeutics had a negative return on equity of 38.46% and a negative net margin of 435.21%. The company had revenue of $1.42 million during the quarter, compared to analysts’ expectations of $12.39 million. Analysts predict that CytomX Therapeutics will post -0.40 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have weighed in on CTMX. Weiss Ratings reaffirmed a “sell (d)” rating on shares of CytomX Therapeutics in a report on Friday, September 11th. Guggenheim dropped their price target on CytomX Therapeutics from $15.00 to $14.00 and set a “buy” rating for the company in a research report on Monday, August 10th. JPMorgan Chase & Co. cut their price objective on CytomX Therapeutics from $12.00 to $11.00 and set an “overweight” rating for the company in a report on Thursday, August 13th. Wall Street Zen cut shares of CytomX Therapeutics from a “hold” rating to a “sell” rating in a research report on Sunday, August 23rd. Finally, Zacks Research cut shares of CytomX Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $11.90.

About CytomX Therapeutics

CytomX Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing antibody-based medicines for cancer and other serious diseases. The company’s technology is designed to keep therapeutic antibodies inactive in healthy tissue and activate them in disease sites, particularly within the tumor microenvironment, with the goal of improving treatment precision and reducing systemic toxicity.

CytomX’s Probody Therapeutics platform uses conditionally activated antibodies and related molecules.