Zacks Investment Research Downgrades CytomX Therapeutics (CTMX) to Hold

Zacks Investment Research cut shares of CytomX Therapeutics (NASDAQ:CTMX) from a buy rating to a hold rating in a report published on Friday, November 10th.

According to Zacks, “CytomX Therapeutics, Inc. is an oncology focused biopharmaceutical company. The Company is engaged in developing Probody(TM) therapeutics for the treatment of cancer. Its pipeline focuses areas consist of Precision cancer immunotherapy and Probody drug conjugates. CytomX Therapeutics, Inc. is headquartered in South San Francisco, California. “

Several other research analysts have also weighed in on the company. Cantor Fitzgerald began coverage on CytomX Therapeutics in a research report on Monday, October 23rd. They set an overweight rating and a $35.00 price target on the stock. Cowen reaffirmed an outperform rating on shares of CytomX Therapeutics in a research report on Thursday, October 5th. Oppenheimer reaffirmed a hold rating on shares of CytomX Therapeutics in a research report on Wednesday, October 4th. Bank of America boosted their price target on CytomX Therapeutics from $30.00 to $34.00 and gave the stock a buy rating in a research report on Wednesday, October 4th. Finally, Nomura boosted their price target on CytomX Therapeutics to $44.00 and gave the stock a buy rating in a research report on Wednesday, October 4th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $31.88.

CytomX Therapeutics (NASDAQ CTMX) traded down $0.59 during trading hours on Friday, hitting $20.36. The company’s stock had a trading volume of 425,800 shares, compared to its average volume of 276,296. CytomX Therapeutics has a 52-week low of $10.03 and a 52-week high of $24.67.

In related news, insider William Michael Kavanaugh sold 48,368 shares of the business’s stock in a transaction that occurred on Wednesday, October 4th. The stock was sold at an average price of $24.34, for a total transaction of $1,177,277.12. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Robert I. Tepper sold 24,777 shares of the business’s stock in a transaction that occurred on Wednesday, October 4th. The stock was sold at an average price of $24.34, for a total value of $603,072.18. The disclosure for this sale can be found here. Insiders have sold a total of 187,355 shares of company stock worth $4,031,706 over the last three months. 8.00% of the stock is owned by insiders.

Several hedge funds have recently bought and sold shares of CTMX. Legal & General Group Plc grew its holdings 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 in the last quarter. Macquarie Group Ltd. acquired a new position in CytomX Therapeutics in the 3rd quarter valued at $107,000. First Quadrant L P CA acquired a new position in CytomX Therapeutics in the 2nd quarter valued at $160,000. Cubist Systematic Strategies LLC acquired a new position in CytomX Therapeutics in the 2nd quarter valued at $174,000. Finally, Goldman Sachs Group Inc. acquired a new position in CytomX Therapeutics in the 1st quarter valued at $190,000. 63.28% of the stock is currently owned by institutional investors and hedge funds.

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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.

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