CytomX Therapeutics (NASDAQ:CTMX) Lowered to “Sell” at StockNews.com

CytomX Therapeutics (NASDAQ:CTMXGet Rating) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.

A number of other analysts have also weighed in on the stock. Zacks Investment Research lowered shares of CytomX Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday, May 13th. Wedbush lowered their price target on shares of CytomX Therapeutics from $10.00 to $6.00 and set an “outperform” rating on the stock in a report on Tuesday, May 10th. HC Wainwright reaffirmed a “buy” rating and set a $11.00 price target on shares of CytomX Therapeutics in a report on Friday, March 4th. Finally, JPMorgan Chase & Co. lowered their target price on shares of CytomX Therapeutics from $10.00 to $9.00 and set an “overweight” rating on the stock in a report on Wednesday, March 2nd. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, CytomX Therapeutics has a consensus rating of “Buy” and a consensus target price of $9.54.

Shares of NASDAQ:CTMX opened at $1.57 on Friday. CytomX Therapeutics has a one year low of $1.51 and a one year high of $8.34. The company’s fifty day moving average price is $2.18 and its 200-day moving average price is $3.96. The firm has a market capitalization of $102.67 million, a price-to-earnings ratio of -1.11 and a beta of 0.76.

CytomX Therapeutics (NASDAQ:CTMXGet Rating) last announced its quarterly earnings results on Thursday, May 5th. The biotechnology company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.02). CytomX Therapeutics had a negative net margin of 129.97% and a negative return on equity of 91.89%. During the same quarter in the previous year, the firm posted ($0.26) EPS. As a group, research analysts forecast that CytomX Therapeutics will post -1.44 earnings per share for the current fiscal year.

A number of hedge funds have recently bought and sold shares of CTMX. Rubric Capital Management LP bought a new position in CytomX Therapeutics during the fourth quarter valued at $10,420,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in CytomX Therapeutics during the first quarter valued at $3,446,000. Morgan Stanley increased its position in CytomX Therapeutics by 5,827.7% during the second quarter. Morgan Stanley now owns 636,037 shares of the biotechnology company’s stock valued at $4,027,000 after acquiring an additional 625,307 shares during the last quarter. Great Point Partners LLC increased its position in CytomX Therapeutics by 50.0% during the third quarter. Great Point Partners LLC now owns 1,500,000 shares of the biotechnology company’s stock valued at $7,635,000 after acquiring an additional 500,000 shares during the last quarter. Finally, Acadian Asset Management LLC increased its position in CytomX Therapeutics by 115.2% during the first quarter. Acadian Asset Management LLC now owns 885,107 shares of the biotechnology company’s stock valued at $2,362,000 after acquiring an additional 473,885 shares during the last quarter. Institutional investors and hedge funds own 92.34% of the company’s stock.

CytomX Therapeutics Company Profile (Get Rating)

CytomX Therapeutics, Inc operates as an oncology-focused biopharmaceutical company in the United States. The company develops antibody therapeutics based on its Probody technology platform for the treatment of cancer. The company's product candidates include CX-2009, an antibody drug conjugates (ADC) against CD166, which is in Phase II clinical trials for the treatment of breast cancer; CX-2029 that is in Phase II clinical trials for the treatment of squamous non-small cell lung cancer, head and neck squamous cell carcinoma, esophageal and gastro-esophageal junction cancers, and diffuse large B-cell lymphoma; BMS-986249, a CTLA-4 Probody therapeutic drug, which is in Phase I/II clinical trials for the treatment of metastatic melanoma; and BMS-986288, an anti-CTLA-4 Probody drug, which is in Phase I clinical trials for the treatment of solid tumors.

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Analyst Recommendations for CytomX Therapeutics (NASDAQ:CTMX)

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