CytomX Therapeutics (NASDAQ:CTMX) Rating Lowered to “Hold” at Zacks Research

CytomX Therapeutics (NASDAQ:CTMX) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Wednesday,Zacks.com reports.

Other research analysts have also issued reports about the stock. JPMorgan Chase & Co. cut their target price on shares of CytomX Therapeutics from $12.00 to $11.00 and set an “overweight” rating on the stock in a research note on Thursday, August 13th. Wall Street Zen raised CytomX Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Wolfe Research began coverage on CytomX Therapeutics in a report on Tuesday, May 19th. They set an “outperform” rating and a $6.00 price target for the company. HC Wainwright reduced their target price on CytomX Therapeutics from $17.00 to $11.00 and set a “buy” rating for the company in a report on Monday, May 11th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of CytomX Therapeutics in a research report on Tuesday, June 16th. One 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 assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $11.90.

CytomX Therapeutics Stock Performance

Shares of NASDAQ CTMX opened at $3.29 on Wednesday. The firm has a 50 day moving average price of $3.41 and a two-hundred day moving average price of $4.12. The stock has a market cap of $716.89 million, a P/E ratio of -6.58 and a beta of 2.12. CytomX Therapeutics has a 52-week low of $1.90 and a 52-week high of $8.21.

CytomX Therapeutics (NASDAQ:CTMX) last released its quarterly earnings results on Thursday, August 6th. The biotechnology company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). CytomX Therapeutics had a negative net margin of 435.21% and a negative return on equity of 38.46%. The company had revenue of $1.42 million during the quarter, compared to the consensus estimate of $12.39 million. Analysts predict that CytomX Therapeutics will post -0.4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Wells Fargo & Company MN lifted its stake in CytomX Therapeutics by 83.2% in the fourth quarter. Wells Fargo & Company MN now owns 6,605 shares of the biotechnology company’s stock worth $28,000 after acquiring an additional 3,000 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new position in CytomX Therapeutics in the fourth quarter worth about $35,000. Lido Advisors LLC bought a new position in CytomX Therapeutics in the first quarter worth about $49,000. May Hill Capital LLC purchased a new stake in CytomX Therapeutics in the fourth quarter worth about $46,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in CytomX Therapeutics in the first quarter worth about $52,000. 67.77% of the stock is currently owned by institutional investors.

About CytomX Therapeutics

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.