CytomX Therapeutics, Inc. (NASDAQ:CTMX) Receives Average Recommendation of “Hold” from Analysts

Shares of CytomX Therapeutics, Inc. (NASDAQ:CTMX) have been given an average recommendation of “Hold” by the five research firms that are presently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $6.42.

Several brokerages have commented on CTMX. Jefferies Financial Group raised CytomX Therapeutics from a “hold” rating to a “buy” rating and boosted their price objective for the company from $2.50 to $8.00 in a research note on Monday. Wedbush raised CytomX Therapeutics from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $3.00 to $8.00 in a research report on Thursday. StockNews.com lowered CytomX Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, April 23rd. BMO Capital Markets boosted their target price on CytomX Therapeutics from $3.25 to $3.59 and gave the company a “market perform” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. raised CytomX Therapeutics from an “underweight” rating to a “neutral” rating in a report on Monday, April 22nd.

CytomX Therapeutics Stock Down 42.7 %

Shares of NASDAQ:CTMX traded down $1.79 during mid-day trading on Thursday, reaching $2.40. 23,087,179 shares of the stock were exchanged, compared to its average volume of 4,144,598. The company has a market cap of $163.53 million, a P/E ratio of -117.50 and a beta of 1.09. CytomX Therapeutics has a one year low of $1.04 and a one year high of $5.85. The stock’s 50 day simple moving average is $2.38 and its 200-day simple moving average is $1.78.

CytomX Therapeutics (NASDAQ:CTMX) last released its quarterly earnings results on Monday, March 11th. The biotechnology company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.01). The company had revenue of $26.61 million during the quarter, compared to analyst estimates of $23.36 million. Analysts anticipate that CytomX Therapeutics will post -0.25 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Sean A. Mccarthy sold 20,223 shares of CytomX Therapeutics stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $2.09, for a total value of $42,266.07. Following the completion of the sale, the chief executive officer now owns 524,481 shares of the company’s stock, valued at approximately $1,096,165.29. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last 90 days, insiders have sold 35,024 shares of company stock valued at $73,200. Company insiders own 7.00% of the company’s stock.

Institutional Investors Weigh In On CytomX Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp raised its position in shares of CytomX Therapeutics by 737.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 266,836 shares of the biotechnology company’s stock valued at $344,000 after buying an additional 234,970 shares in the last quarter. Congress Park Capital LLC grew its holdings in shares of CytomX Therapeutics by 112.8% during the 4th quarter. Congress Park Capital LLC now owns 239,300 shares of the biotechnology company’s stock valued at $371,000 after purchasing an additional 126,850 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of CytomX Therapeutics during the 1st quarter valued at $124,000. SG Americas Securities LLC bought a new stake in CytomX Therapeutics in the 1st quarter worth $57,000. Finally, AlphaMark Advisors LLC grew its holdings in CytomX Therapeutics by 119.8% in the 4th quarter. AlphaMark Advisors LLC now owns 23,183 shares of the biotechnology company’s stock worth $36,000 after acquiring an additional 12,635 shares during the last quarter. 67.77% of the stock is owned by hedge funds and other institutional investors.

About CytomX Therapeutics

CytomX Therapeutics, Inc, an oncology-focused biopharmaceutical company, focuses on developing novel conditionally activated biologics localized to the tumor microenvironment. The company utilizes conditional activation platform technology for oncology biologics research and development comprising the validation of targets for antibody-drug conjugates (ADCs), opening therapeutic window for novel T-cell engagers (TCEs) targeting solid tumors, and increasing the therapeutic index for immune modulators, such as cytokines; and PROBODY platform in preclinical research in areas outside of oncology.