CytomX Therapeutics (CTMX) Coverage Initiated at Citigroup

Citigroup initiated coverage on shares of CytomX Therapeutics (NASDAQ:CTMX) in a research note issued to investors on Friday, January 5th, Marketbeat Ratings reports. The firm issued a buy rating and a $40.00 price objective on the biotechnology company’s stock.

Several other research analysts have also recently issued reports on the stock. BidaskClub upgraded shares of CytomX Therapeutics from a hold rating to a buy rating in a report on Friday, December 15th. ValuEngine lowered shares of CytomX Therapeutics from a hold rating to a sell rating in a research note on Friday, December 1st. Zacks Investment Research lowered shares of CytomX Therapeutics from a buy rating to a hold rating in a research note on Friday, November 10th. Cantor Fitzgerald initiated coverage on shares of CytomX Therapeutics in a research note on Monday, October 23rd. They set an overweight rating and a $35.00 target price for the company. Finally, Cowen reissued an outperform rating on shares of CytomX Therapeutics in a research note on Thursday, October 5th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the stock. CytomX Therapeutics presently has a consensus rating of Buy and a consensus target price of $32.78.

Shares of CytomX Therapeutics (NASDAQ:CTMX) opened at $25.17 on Friday. CytomX Therapeutics has a 1 year low of $11.06 and a 1 year high of $25.60. The firm has a market cap of $966.74, a PE ratio of -15.83 and a beta of 0.47.

CytomX Therapeutics (NASDAQ:CTMX) last announced its quarterly earnings data on Tuesday, November 7th. The biotechnology company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.14). CytomX Therapeutics had a negative net margin of 113.64% and a negative return on equity of 92.42%. sell-side analysts predict that CytomX Therapeutics will post -1.58 earnings per share for the current year.

In other news, CEO Sean A. Mccarthy sold 14,342 shares of the stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $19.86, for a total transaction of $284,832.12. Following the transaction, the chief executive officer now owns 18,587 shares in the company, valued at approximately $369,137.82. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Debanjan Ray sold 2,500 shares of the stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $20.00, for a total transaction of $50,000.00. Following the transaction, the chief financial officer now owns 12,126 shares in the company, valued at approximately $242,520. The disclosure for this sale can be found here. In the last 90 days, insiders sold 70,760 shares of company stock valued at $1,533,840. 8.00% of the stock is owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Macquarie Group Ltd. acquired a new position in shares of CytomX Therapeutics during the 3rd quarter worth $107,000. Legal & General Group Plc grew its stake in CytomX Therapeutics by 28.6% in the 2nd quarter. Legal & General Group Plc now owns 6,448 shares of the biotechnology company’s stock valued at $101,000 after buying an additional 1,434 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in CytomX Therapeutics in the 2nd quarter valued at $174,000. Voya Investment Management LLC acquired a new position in CytomX Therapeutics in the 2nd quarter valued at $203,000. Finally, Nationwide Fund Advisors grew its stake in CytomX Therapeutics by 39.4% in the 2nd quarter. Nationwide Fund Advisors now owns 16,365 shares of the biotechnology company’s stock valued at $254,000 after buying an additional 4,622 shares during the last quarter. Institutional investors own 63.13% of the company’s stock.

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CytomX Therapeutics Company Profile

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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