CytomX Therapeutics (NASDAQ:CTMX) Stock Rating Lowered by StockNews.com

CytomX Therapeutics (NASDAQ:CTMX) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

Separately, JPMorgan Chase & Co. upgraded shares of CytomX Therapeutics from an “underweight” rating to a “neutral” rating in a report on Monday.

CytomX Therapeutics Trading Up 0.6 %

NASDAQ CTMX traded up $0.01 on Tuesday, hitting $1.68. 290,171 shares of the company were exchanged, compared to its average volume of 840,418. The company has a market cap of $113.79 million, a PE ratio of -83.96 and a beta of 1.01. CytomX Therapeutics has a 12 month low of $1.04 and a 12 month high of $2.86. The stock has a fifty day moving average of $2.05 and a 200-day moving average of $1.64.

CytomX Therapeutics (NASDAQ:CTMX) last released its quarterly earnings data on Monday, March 11th. The biotechnology company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.01). The business had revenue of $26.61 million for the quarter, compared to analysts’ expectations of $23.36 million. On average, analysts expect that CytomX Therapeutics will post -0.21 earnings per share for the current year.

Insider Activity at CytomX Therapeutics

In related news, CEO Sean A. Mccarthy sold 20,223 shares of the stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $2.09, for a total transaction of $42,266.07. Following the completion of the transaction, the chief executive officer now owns 524,481 shares in the company, valued at $1,096,165.29. The transaction was disclosed in a document filed with the SEC, which is available through this link. Over the last 90 days, insiders sold 35,024 shares of company stock worth $73,200. 7.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On CytomX Therapeutics

Several institutional investors have recently added to or reduced their stakes in CTMX. AlphaMark Advisors LLC grew its position in 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 buying an additional 12,635 shares during the period. Bank of New York Mellon Corp boosted its position in 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 worth $344,000 after purchasing an additional 234,970 shares during the period. Finally, Congress Park Capital LLC boosted its position in CytomX Therapeutics by 112.8% during the fourth quarter. Congress Park Capital LLC now owns 239,300 shares of the biotechnology company’s stock worth $371,000 after purchasing an additional 126,850 shares during the period. Institutional investors own 67.77% of the company’s stock.

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.