CytomX Therapeutics’ (CTMX) Market Perform Rating Reaffirmed at BMO Capital Markets

BMO Capital Markets reissued their market perform rating on shares of CytomX Therapeutics (NASDAQ:CTMX) in a report released on Wednesday morning, Benzinga reports. The firm currently has a $3.25 price target on the biotechnology company’s stock.

A number of other equities research analysts have also commented on the company. JPMorgan Chase & Co. upgraded CytomX Therapeutics from an underweight rating to a neutral rating in a research report on Monday, April 22nd. StockNews.com lowered CytomX Therapeutics from a buy rating to a hold rating in a research report on Tuesday, April 23rd.

CytomX Therapeutics Price Performance

NASDAQ CTMX opened at $5.13 on Wednesday. The firm has a market cap of $347.45 million, a PE ratio of -256.37 and a beta of 1.00. CytomX Therapeutics has a one year low of $1.04 and a one year high of $5.85. The stock’s 50 day simple moving average is $2.14 and its 200 day simple moving average is $1.67.

CytomX Therapeutics (NASDAQ:CTMX) last released its quarterly earnings results on Monday, March 11th. The biotechnology company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). The company had revenue of $26.61 million during the quarter, compared to analyst estimates of $23.36 million. As a group, equities analysts expect that CytomX Therapeutics will post -0.29 earnings per share for the current year.

Insiders Place Their Bets

In other CytomX Therapeutics news, CEO Sean A. Mccarthy sold 20,223 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now owns 524,481 shares of the company’s stock, valued at approximately $1,096,165.29. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In the last quarter, insiders have sold 35,024 shares of company stock valued at $73,200. 7.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its holdings in CytomX Therapeutics by 737.4% during the third quarter. Bank of New York Mellon Corp now owns 266,836 shares of the biotechnology company’s stock worth $344,000 after buying an additional 234,970 shares during the last quarter. Congress Park Capital LLC grew its position in shares of CytomX Therapeutics by 112.8% during the 4th quarter. Congress Park Capital LLC now owns 239,300 shares of the biotechnology company’s stock worth $371,000 after buying an additional 126,850 shares during the period. Finally, AlphaMark Advisors LLC grew its position in shares of CytomX Therapeutics by 119.8% during the 4th quarter. AlphaMark Advisors LLC now owns 23,183 shares of the biotechnology company’s stock worth $36,000 after buying an additional 12,635 shares during the period. Institutional investors and hedge funds 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.