CytomX Therapeutics (NASDAQ:CTMX) Stock Rating Lowered by StockNews.com

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

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

CytomX Therapeutics Stock Performance

NASDAQ:CTMX opened at $1.63 on Tuesday. The firm has a market cap of $110.40 million, a PE ratio of -81.50 and a beta of 1.00. CytomX Therapeutics has a fifty-two week low of $1.04 and a fifty-two week high of $2.86. The business 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 released its quarterly earnings data on Monday, March 11th. The biotechnology company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). The firm had revenue of $26.61 million during the quarter, compared to analysts’ expectations of $23.36 million. Research analysts predict that CytomX Therapeutics will post -0.21 EPS for the current year.

Insider Activity at CytomX Therapeutics

In related news, CEO Sean A. Mccarthy sold 20,223 shares of the company’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 transaction of $42,266.07. Following the completion of the transaction, the chief executive officer now owns 524,481 shares in the company, valued at $1,096,165.29. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders sold a total of 35,024 shares of company stock worth $73,200 over the last quarter. 7.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CytomX Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in CTMX. AlphaMark Advisors LLC raised its holdings in CytomX Therapeutics by 119.8% in the fourth quarter. AlphaMark Advisors LLC now owns 23,183 shares of the biotechnology company’s stock worth $36,000 after purchasing an additional 12,635 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in 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 worth $344,000 after purchasing an additional 234,970 shares in the last quarter. Finally, Congress Park Capital LLC raised its holdings in CytomX Therapeutics by 112.8% in the fourth quarter. Congress Park Capital LLC now owns 239,300 shares of the biotechnology company’s stock worth $371,000 after purchasing an additional 126,850 shares in the last quarter. Institutional investors own 67.77% of the company’s stock.

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.