BidaskClub Lowers CytomX Therapeutics, Inc. (NASDAQ:CTMX) to Sell

CytomX Therapeutics, Inc. (NASDAQ:CTMX) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Monday, July 24th.

Other research analysts have also issued reports about the company. Jefferies Group LLC reaffirmed a “buy” rating and set a $25.00 target price on shares of CytomX Therapeutics in a research report on Tuesday, June 6th. Zacks Investment Research raised CytomX Therapeutics from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a research report on Wednesday, May 3rd. Cowen and Company reaffirmed a “buy” rating on shares of CytomX Therapeutics in a research report on Wednesday, June 28th. ValuEngine lowered CytomX Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, May 11th. Finally, Cann reissued a “hold” rating on shares of CytomX Therapeutics in a research report on Thursday, March 30th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $25.60.

CytomX Therapeutics (NASDAQ:CTMX) opened at 13.53 on Monday. The company’s 50-day moving average price is $14.54 and its 200 day moving average price is $14.59. The company’s market capitalization is $498.81 million. CytomX Therapeutics has a 52 week low of $9.85 and a 52 week high of $20.02.

CytomX Therapeutics (NASDAQ:CTMX) last released its quarterly earnings data on Monday, August 7th. The biotechnology company reported ($0.69) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.39) by $0.30. CytomX Therapeutics had a negative net margin of 206.33% and a negative return on equity of 84.61%. The firm had revenue of $8.75 million for the quarter, compared to analyst estimates of $4.95 million. On average, equities research analysts anticipate that CytomX Therapeutics will post ($1.47) EPS for the current year.

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In other news, CFO Debanjan Ray sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $15.00, for a total value of $37,500.00. Following the transaction, the chief financial officer now owns 19,626 shares in the company, valued at approximately $294,390. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Sean A. Mccarthy sold 4,781 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $15.00, for a total value of $71,715.00. Following the completion of the transaction, the insider now owns 9,026 shares in the company, valued at approximately $135,390. The disclosure for this sale can be found here. Insiders have sold a total of 39,343 shares of company stock valued at $606,856 in the last quarter. Company insiders own 4.70% of the company’s stock.

A number of institutional investors have recently bought and sold shares of CTMX. California State Teachers Retirement System increased its position in CytomX Therapeutics by 27.8% in the second quarter. California State Teachers Retirement System now owns 51,430 shares of the biotechnology company’s stock valued at $797,000 after buying an additional 11,200 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in CytomX Therapeutics by 36.9% in the second quarter. The Manufacturers Life Insurance Company now owns 23,529 shares of the biotechnology company’s stock valued at $365,000 after buying an additional 6,342 shares during the last quarter. Redmile Group LLC boosted its stake in shares of CytomX Therapeutics by 2.4% in the second quarter. Redmile Group LLC now owns 698,392 shares of the biotechnology company’s stock worth $10,825,000 after buying an additional 16,500 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of CytomX Therapeutics during the second quarter worth about $174,000. Finally, State Street Corp boosted its stake in shares of CytomX Therapeutics by 58.8% in the second quarter. State Street Corp now owns 446,315 shares of the biotechnology company’s stock worth $6,914,000 after buying an additional 165,342 shares during the last quarter. Institutional investors and hedge funds own 52.75% of the company’s stock.

CytomX Therapeutics Company Profile

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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