Wall Street Zen Downgrades CytomX Therapeutics (NASDAQ:CTMX) to Sell

CytomX Therapeutics (NASDAQ:CTMX) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Sunday.

A number of other research firms have also recently commented on CTMX. HC Wainwright dropped their target price on shares of CytomX Therapeutics from $17.00 to $11.00 and set a “buy” rating for the company in a report on Monday, May 11th. Guggenheim lowered their price objective on shares of CytomX Therapeutics from $15.00 to $14.00 and set a “buy” rating for the company in a research report on Monday, August 10th. JPMorgan Chase & Co. dropped their price objective on shares of CytomX Therapeutics from $12.00 to $11.00 and set an “overweight” rating for the company in a research note on Thursday, August 13th. Zacks Research downgraded CytomX Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 19th. Finally, Wolfe Research started coverage on CytomX Therapeutics in a research note on Tuesday, May 19th. They set an “outperform” rating and a $6.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.90.

CytomX Therapeutics Stock Performance

Shares of CTMX opened at $3.29 on Friday. CytomX Therapeutics has a 52-week low of $1.90 and a 52-week high of $8.21. The firm has a market cap of $716.89 million, a price-to-earnings ratio of -6.58 and a beta of 2.12. The business’s fifty day moving average is $3.42 and its 200-day moving average is $4.08.

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

Institutional Trading of CytomX Therapeutics

Institutional investors have recently modified their holdings of the business. Wells Fargo & Company MN increased its holdings 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 valued at $28,000 after purchasing an additional 3,000 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of CytomX Therapeutics in the 4th quarter valued at about $35,000. Lido Advisors LLC bought a new stake in shares of CytomX Therapeutics in the 1st quarter valued at about $49,000. May Hill Capital LLC acquired a new stake in shares of CytomX Therapeutics in the fourth quarter valued at about $46,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. bought a new position in shares of CytomX Therapeutics during the first quarter worth about $52,000. Institutional investors own 67.77% of the company’s stock.

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.