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

StockNews.com cut shares of CytomX Therapeutics (NASDAQ:CTMX) from a buy rating to a hold rating in a research note issued to investors on Tuesday.

Separately, JPMorgan Chase & Co. raised CytomX Therapeutics from an underweight rating to a neutral rating in a research report on Monday.

CytomX Therapeutics Stock Performance

CytomX Therapeutics stock opened at $1.68 on Tuesday. CytomX Therapeutics has a 52 week low of $1.04 and a 52 week high of $2.86. The firm has a market capitalization of $113.79 million, a price-to-earnings ratio of -83.96 and a beta of 1.01. The company has a 50 day moving average price of $2.05 and a 200 day moving average price of $1.64.

CytomX Therapeutics (NASDAQ:CTMX) last issued its earnings results on Monday, March 11th. The biotechnology company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.02 by ($0.01). The firm had revenue of $26.61 million during the quarter, compared to analyst estimates of $23.36 million. Equities analysts forecast that CytomX Therapeutics will post -0.21 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Sean A. Mccarthy sold 20,223 shares of the business’s stock in a transaction that occurred on 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 directly owns 524,481 shares in the company, valued at approximately $1,096,165.29. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last quarter, insiders have sold 35,024 shares of company stock valued at $73,200. Insiders own 7.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CTMX. Bank of New York Mellon Corp boosted its position in shares of CytomX Therapeutics by 737.4% in the third quarter. Bank of New York Mellon Corp now owns 266,836 shares of the biotechnology company’s stock valued at $344,000 after acquiring an additional 234,970 shares during the period. Congress Park Capital LLC lifted its position in shares of CytomX Therapeutics by 112.8% in the 4th quarter. Congress Park Capital LLC now owns 239,300 shares of the biotechnology company’s stock worth $371,000 after acquiring an additional 126,850 shares during the period. Finally, AlphaMark Advisors LLC raised its stake in shares of CytomX Therapeutics by 119.8% in the fourth quarter. AlphaMark Advisors LLC now owns 23,183 shares of the biotechnology company’s stock valued at $36,000 after purchasing an additional 12,635 shares in the last quarter. 67.77% of the stock is owned by 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.