CytomX Therapeutics, Inc. (NASDAQ:CTMX) CEO Sean A. Mccarthy Sells 13,898 Shares of Stock

CytomX Therapeutics, Inc. (NASDAQ:CTMX) CEO Sean A. Mccarthy sold 13,898 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $1.23, for a total transaction of $17,094.54. Following the completion of the transaction, the chief executive officer now owns 657,851 shares of the company’s stock, valued at $809,156.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

CytomX Therapeutics Stock Performance

Shares of CTMX stock opened at $1.19 on Friday. The company has a market capitalization of $92.72 million, a P/E ratio of 5.95 and a beta of 1.06. CytomX Therapeutics, Inc. has a fifty-two week low of $1.04 and a fifty-two week high of $5.85. The stock has a 50 day moving average price of $1.31 and a two-hundred day moving average price of $1.80.

CytomX Therapeutics (NASDAQ:CTMX) last issued its earnings results on Thursday, August 8th. The biotechnology company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.01). The firm had revenue of $25.12 million during the quarter, compared to analysts’ expectations of $21.79 million. CytomX Therapeutics had a negative return on equity of 30.70% and a net margin of 13.87%. During the same period in the previous year, the firm earned ($0.02) earnings per share. As a group, equities analysts predict that CytomX Therapeutics, Inc. will post -0.14 earnings per share for the current year.

Hedge Funds Weigh In On CytomX Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of CTMX. Forefront Analytics LLC grew its stake in shares of CytomX Therapeutics by 206.7% in the second quarter. Forefront Analytics LLC now owns 64,065 shares of the biotechnology company’s stock worth $78,000 after purchasing an additional 43,176 shares during the last quarter. Cubist Systematic Strategies LLC grew its position in shares of CytomX Therapeutics by 96.6% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 82,054 shares of the biotechnology company’s stock worth $100,000 after buying an additional 40,309 shares during the last quarter. Sei Investments Co. purchased a new position in shares of CytomX Therapeutics during the second quarter valued at approximately $467,000. XTX Topco Ltd raised its holdings in shares of CytomX Therapeutics by 382.6% during the second quarter. XTX Topco Ltd now owns 60,586 shares of the biotechnology company’s stock valued at $74,000 after acquiring an additional 48,033 shares in the last quarter. Finally, Acadian Asset Management LLC raised its holdings in shares of CytomX Therapeutics by 1.4% during the second quarter. Acadian Asset Management LLC now owns 2,728,569 shares of the biotechnology company’s stock valued at $3,324,000 after acquiring an additional 37,739 shares in the last quarter. 67.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CTMX shares. Wedbush upgraded CytomX Therapeutics from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $3.00 to $8.00 in a report on Thursday, May 9th. BMO Capital Markets increased their price target on shares of CytomX Therapeutics from $3.25 to $3.59 and gave the company a “market perform” rating in a research report on Thursday, May 9th. Piper Sandler raised shares of CytomX Therapeutics from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $2.25 to $3.50 in a research note on Tuesday, May 28th. StockNews.com cut shares of CytomX Therapeutics from a “buy” rating to a “hold” rating in a research note on Monday, June 17th. Finally, HC Wainwright reiterated a “neutral” rating on shares of CytomX Therapeutics in a research report on Thursday. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $5.77.

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.