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

CytomX Therapeutics, Inc. (NASDAQ:CTMX) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Monday.

Other research analysts have also issued reports about the company. HC Wainwright started coverage on CytomX Therapeutics in a research report on Monday, March 27th. They issued a “buy” rating and a $24.00 target price on the stock. Cowen and Company reissued a “buy” rating on shares of CytomX Therapeutics in a report on Wednesday, June 28th. Jefferies Group LLC reissued a “buy” rating and set a $25.00 price objective on shares of CytomX Therapeutics in a report on Tuesday, June 6th. Zacks Investment Research raised CytomX Therapeutics from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a report on Wednesday, May 3rd. Finally, Cann reissued a “hold” rating on shares of CytomX Therapeutics in a report on Thursday, March 30th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $24.50.

CytomX Therapeutics (NASDAQ CTMX) traded up 2.21% during trading on Monday, reaching $13.88. The company had a trading volume of 138,275 shares. CytomX Therapeutics has a 12 month low of $9.81 and a 12 month high of $20.02. The stock has a 50 day moving average of $14.72 and a 200-day moving average of $14.26. The company’s market capitalization is $510.08 million.

CytomX Therapeutics (NASDAQ:CTMX) last issued its earnings results on Friday, May 5th. The biotechnology company reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.55) by $0.32. CytomX Therapeutics had a negative return on equity of 59.65% and a negative net margin of 208.92%. The company had revenue of $11.65 million for the quarter, compared to analyst estimates of $2.10 million. Equities research analysts expect that CytomX Therapeutics will post ($1.41) EPS for the current fiscal year.

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In other news, insider Sean A. Mccarthy sold 4,781 shares of the stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $15.52, for a total transaction of $74,201.12. Following the transaction, the insider now owns 9,026 shares of the company’s stock, valued at approximately $140,083.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Debanjan Ray sold 2,500 shares of the stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $15.47, for a total value of $38,675.00. Following the transaction, the chief financial officer now directly owns 22,126 shares in the company, valued at approximately $342,289.22. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,843 shares of company stock worth $572,703. 8.00% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. First Quadrant L P CA bought a new position in shares of CytomX Therapeutics during the second quarter worth approximately $160,000. Goldman Sachs Group Inc. acquired a new stake in shares of CytomX Therapeutics during the first quarter valued at $190,000. Driehaus Capital Management LLC acquired a new stake in shares of CytomX Therapeutics during the first quarter valued at $5,089,000. HarbourVest Partners LLC increased its stake in shares of CytomX Therapeutics by 150.0% in the first quarter. HarbourVest Partners LLC now owns 25,000 shares of the biotechnology company’s stock valued at $432,000 after buying an additional 15,000 shares during the last quarter. Finally, Iguana Healthcare Management LLC acquired a new stake in shares of CytomX Therapeutics during the first quarter valued at $1,295,000. 52.28% of the stock is currently owned by institutional investors and hedge funds.

About CytomX Therapeutics

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.

Analyst Recommendations for CytomX Therapeutics (NASDAQ:CTMX)

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