Assenagon Asset Management S.A. Sells 137,271 Shares of CytomX Therapeutics, Inc. $CTMX

Assenagon Asset Management S.A. decreased its holdings in shares of CytomX Therapeutics, Inc. (NASDAQ:CTMX) by 18.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 592,696 shares of the biotechnology company’s stock after selling 137,271 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.35% of CytomX Therapeutics worth $2,525,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its position in CytomX Therapeutics by 5,648.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 16,152 shares of the biotechnology company’s stock worth $52,000 after buying an additional 15,871 shares in the last quarter. Financial Engines Advisors L.L.C. acquired a new position in shares of CytomX Therapeutics during the 3rd quarter worth about $4,407,000. Jacobs Levy Equity Management Inc. bought a new position in shares of CytomX Therapeutics in the 3rd quarter valued at about $162,000. Velan Capital Investment Management LP grew its holdings in shares of CytomX Therapeutics by 6.7% in the 3rd quarter. Velan Capital Investment Management LP now owns 80,000 shares of the biotechnology company’s stock valued at $255,000 after acquiring an additional 5,000 shares in the last quarter. Finally, Qube Research & Technologies Ltd acquired a new stake in shares of CytomX Therapeutics in the third quarter valued at about $391,000. Institutional investors own 67.77% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on CTMX shares. JPMorgan Chase & Co. upgraded CytomX Therapeutics from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $7.00 to $12.00 in a report on Monday, March 16th. Oppenheimer restated an “outperform” rating and issued a $12.00 price target on shares of CytomX Therapeutics in a research note on Monday, March 16th. Piper Sandler boosted their price target on CytomX Therapeutics from $10.00 to $12.00 and gave the stock an “overweight” rating in a research report on Monday, March 23rd. Weiss Ratings cut CytomX Therapeutics from a “hold (c-)” rating to a “sell (d)” rating in a research note on Thursday, March 19th. Finally, Guggenheim increased their price objective on CytomX Therapeutics from $10.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, March 18th. Nine research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $13.44.

Insiders Place Their Bets

In related news, CFO Christopher Ogden sold 19,323 shares of the business’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $6.42, for a total transaction of $124,053.66. Following the transaction, the chief financial officer directly owned 296,948 shares of the company’s stock, valued at approximately $1,906,406.16. The trade was a 6.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Marcia Belvin sold 31,492 shares of the stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $6.42, for a total value of $202,178.64. Following the completion of the sale, the senior vice president owned 300,760 shares in the company, valued at approximately $1,930,879.20. This trade represents a 9.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 191,063 shares of company stock valued at $1,226,624 over the last 90 days. 6.60% of the stock is owned by insiders.

CytomX Therapeutics Stock Performance

Shares of NASDAQ:CTMX opened at $4.41 on Tuesday. CytomX Therapeutics, Inc. has a 52-week low of $0.40 and a 52-week high of $8.21. The company has a market capitalization of $750.54 million, a P/E ratio of -110.25 and a beta of 2.44. The company has a 50-day simple moving average of $5.25 and a 200 day simple moving average of $4.24.

CytomX Therapeutics (NASDAQ:CTMX) last announced its quarterly earnings results on Monday, March 16th. The biotechnology company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.14). The business had revenue of $0.66 million for the quarter, compared to analyst estimates of $7.33 million. CytomX Therapeutics had a negative return on equity of 19.77% and a negative net margin of 22.79%. As a group, equities analysts forecast that CytomX Therapeutics, Inc. will post -0.05 earnings per share for the current year.

CytomX Therapeutics 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.