StockNews.com Downgrades CytomX Therapeutics (NASDAQ:CTMX) to Hold

CytomX Therapeutics (NASDAQ:CTMX) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Monday.

CTMX has been the topic of several other research reports. HC Wainwright reiterated a “neutral” rating on shares of CytomX Therapeutics in a research note on Friday, March 7th. Wedbush reiterated an “outperform” rating and issued a $5.00 target price on shares of CytomX Therapeutics in a research report on Friday, March 7th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, CytomX Therapeutics has an average rating of “Hold” and an average price target of $5.02.

CytomX Therapeutics Price Performance

Shares of NASDAQ:CTMX traded up $0.01 during trading on Monday, hitting $0.64. 1,397,467 shares of the company’s stock were exchanged, compared to its average volume of 2,630,227. The business’s 50-day simple moving average is $0.74 and its 200 day simple moving average is $0.95. CytomX Therapeutics has a 52-week low of $0.56 and a 52-week high of $5.85. The company has a market cap of $50.93 million, a price-to-earnings ratio of 3.74 and a beta of 1.05.

CytomX Therapeutics (NASDAQ:CTMX) last released its quarterly earnings data on Thursday, March 6th. The biotechnology company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.45. CytomX Therapeutics had a net margin of 10.96% and a negative return on equity of 41.47%. The firm had revenue of $38.09 million for the quarter, compared to analysts’ expectations of $13.53 million. On average, sell-side analysts anticipate that CytomX Therapeutics will post -0.05 EPS for the current fiscal year.

Institutional Trading of CytomX Therapeutics

A number of large investors have recently made changes to their positions in the business. Jacobs Levy Equity Management Inc. grew its position in CytomX Therapeutics by 1.1% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,524,076 shares of the biotechnology company’s stock worth $1,798,000 after acquiring an additional 16,359 shares in the last quarter. Northern Trust Corp lifted its stake in shares of CytomX Therapeutics by 16.0% in the 4th quarter. Northern Trust Corp now owns 150,632 shares of the biotechnology company’s stock valued at $155,000 after purchasing an additional 20,746 shares during the last quarter. Miller Financial Services LLC purchased a new position in shares of CytomX Therapeutics in the 4th quarter worth approximately $26,000. Prudential Financial Inc. boosted its holdings in shares of CytomX Therapeutics by 76.2% in the 4th quarter. Prudential Financial Inc. now owns 64,300 shares of the biotechnology company’s stock worth $66,000 after purchasing an additional 27,800 shares during the period. Finally, Traphagen Investment Advisors LLC bought a new position in shares of CytomX Therapeutics during the 4th quarter valued at approximately $31,000. 67.77% of the stock is currently owned by institutional investors.

CytomX Therapeutics Company Profile

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.