CytomX Therapeutics (NASDAQ:CTMX) Rating Lowered to “Strong Sell” at Wall Street Zen
by Jessica Moore · The Cerbat GemCytomX Therapeutics (NASDAQ:CTMX – Get Free Report) was downgraded by Wall Street Zen from a “sell” rating to a “strong sell” rating in a note issued to investors on Saturday.
A number of other equities analysts have also recently issued reports on the stock. Cantor Fitzgerald increased their price objective on shares of CytomX Therapeutics from $6.00 to $10.00 and gave the company an “overweight” rating in a research note on Wednesday, February 4th. Oppenheimer restated an “outperform” rating and issued a $12.00 price objective on shares of CytomX Therapeutics in a research note on Monday, March 16th. Guggenheim increased their target price on shares of CytomX Therapeutics from $10.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, March 18th. JPMorgan Chase & Co. upgraded shares of CytomX Therapeutics from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $7.00 to $12.00 in a research report on Monday, March 16th. Finally, Wedbush increased their target price on shares of CytomX Therapeutics from $6.00 to $11.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 17th. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $13.44.
View Our Latest Stock Analysis on CTMX
CytomX Therapeutics Stock Performance
Shares of CTMX stock opened at $4.40 on Friday. CytomX Therapeutics has a 52-week low of $0.63 and a 52-week high of $8.21. The stock has a market cap of $748.84 million, a price-to-earnings ratio of -110.00 and a beta of 2.49. The firm has a fifty day moving average of $4.84 and a 200-day moving average of $4.49.
CytomX Therapeutics (NASDAQ:CTMX – Get Free Report) last announced its quarterly earnings data on Monday, March 16th. The biotechnology company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.14). CytomX Therapeutics had a negative net margin of 22.79% and a negative return on equity of 19.77%. The business had revenue of $0.66 million during the quarter, compared to analyst estimates of $7.33 million. On average, sell-side analysts predict that CytomX Therapeutics will post -0.56 earnings per share for the current year.
Insider Activity
In other CytomX Therapeutics news, SVP Marcia Belvin sold 31,492 shares of the stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $6.42, for a total transaction of $202,178.64. Following the sale, the senior vice president owned 300,760 shares of the company’s stock, valued at $1,930,879.20. This represents a 9.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Yu-Waye Chu sold 21,279 shares of the stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $6.42, for a total transaction of $136,611.18. Following the sale, the insider directly owned 189,446 shares in the company, valued at approximately $1,216,243.32. This represents a 10.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 191,063 shares of company stock worth $1,226,624. Company insiders own 6.60% of the company’s stock.
Institutional Investors Weigh In On CytomX Therapeutics
Hedge funds have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC bought a new position in shares of CytomX Therapeutics in the 3rd quarter valued at about $25,000. Wells Fargo & Company MN boosted its stake in shares of CytomX Therapeutics by 83.2% in the 4th 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 last quarter. Invesco Ltd. bought a new position in shares of CytomX Therapeutics in the 2nd quarter valued at about $32,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new position in shares of CytomX Therapeutics in the 3rd quarter valued at about $34,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of CytomX Therapeutics in the 4th quarter valued at about $35,000. Institutional investors own 67.77% of the company’s stock.
CytomX Therapeutics Company Profile
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.