CytomX Therapeutics (NASDAQ:CTMX) Rating Increased to Sell at Wall Street Zen

Wall Street Zen upgraded shares of CytomX Therapeutics (NASDAQ:CTMX) from a strong sell rating to a sell rating in a research report sent to investors on Saturday.

Several other equities research analysts have also commented on CTMX. Oppenheimer restated an “outperform” rating and set a $12.00 target price on shares of CytomX Therapeutics in a research report on Monday, March 16th. Wedbush increased their price target on shares of CytomX Therapeutics from $6.00 to $11.00 and gave the company an “outperform” rating in a report on Tuesday, March 17th. JPMorgan Chase & Co. upgraded shares of CytomX Therapeutics from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $7.00 to $12.00 in a research note on Monday, March 16th. Weiss Ratings downgraded shares of CytomX Therapeutics from a “hold (c-)” rating to a “sell (d)” rating in a report on Thursday, March 19th. Finally, Jefferies Financial Group upped their target price on shares of CytomX Therapeutics from $8.00 to $16.00 and gave the stock a “buy” rating in a research report on Wednesday, March 18th. Nine investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, CytomX Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $13.44.

CytomX Therapeutics Price Performance

CTMX opened at $3.98 on Friday. The business has a 50 day simple moving average of $4.66 and a 200-day simple moving average of $4.53. The stock has a market capitalization of $677.36 million, a P/E ratio of -9.71 and a beta of 2.18. CytomX Therapeutics has a 12 month low of $0.91 and a 12 month high of $8.21.

CytomX Therapeutics (NASDAQ:CTMX) last announced its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.04. The firm had revenue of $10.26 million for the quarter, compared to analyst estimates of $4.68 million. CytomX Therapeutics had a negative return on equity of 54.37% and a negative net margin of 166.40%. Research analysts anticipate that CytomX Therapeutics will post -0.56 EPS for the current year.

Insider Transactions at CytomX Therapeutics

In other news, CFO Christopher Ogden sold 19,323 shares of CytomX Therapeutics stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $6.42, for a total transaction of $124,053.66. Following the completion of the transaction, the chief financial officer owned 296,948 shares of the company’s stock, valued at $1,906,406.16. The trade was a 6.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Sean A. Mccarthy sold 118,969 shares of the business’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $6.42, for a total transaction of $763,780.98. Following the completion of the sale, the chief executive officer owned 1,078,922 shares in the company, valued at $6,926,679.24. This represents a 9.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 191,063 shares of company stock worth $1,226,624. Corporate insiders own 6.60% of the company’s stock.

Institutional Trading of CytomX Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the business. Wells Fargo & Company MN grew its position in shares of CytomX Therapeutics by 83.2% in the fourth quarter. Wells Fargo & Company MN now owns 6,605 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 3,000 shares during the last quarter. Farther Finance Advisors LLC acquired a new position in shares of CytomX Therapeutics during the 3rd quarter worth approximately $25,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of CytomX Therapeutics during the 4th quarter worth approximately $35,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in CytomX Therapeutics in the 3rd quarter valued at approximately $34,000. Finally, May Hill Capital LLC purchased a new stake in CytomX Therapeutics in the 4th quarter valued at approximately $46,000. Hedge funds and other institutional investors own 67.77% of the company’s stock.

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.