Investors Buy Large Volume of Put Options on CytomX Therapeutics (NASDAQ:CTMX)

CytomX Therapeutics, Inc. (NASDAQ:CTMX) saw unusually large options trading activity on Thursday. Investors bought 8,402 put options on the stock. This is an increase of 186% compared to the average volume of 2,936 put options.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Wolfe Research started coverage on CytomX Therapeutics in a research note on Tuesday, May 19th. They set an “outperform” rating and a $6.00 price objective on the stock. Wall Street Zen upgraded shares of CytomX Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 9th. Guggenheim raised their target price on shares of CytomX Therapeutics from $10.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, March 18th. Piper Sandler increased their price target on shares of CytomX Therapeutics from $10.00 to $12.00 and gave the stock an “overweight” rating in a research report on Monday, March 23rd. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of CytomX Therapeutics in a research note on Tuesday, June 16th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, CytomX Therapeutics has an average rating of “Moderate Buy” and an average price target of $12.10.

CytomX Therapeutics Stock Down 3.4%

Shares of CTMX stock traded down $0.12 during trading hours on Thursday, hitting $3.56. 765,645 shares of the company’s stock traded hands, compared to its average volume of 5,327,515. The stock’s 50 day simple moving average is $3.49 and its 200 day simple moving average is $4.39. The stock has a market cap of $605.03 million, a PE ratio of -8.67 and a beta of 2.08. CytomX Therapeutics has a 12 month low of $1.72 and a 12 month high of $8.21.

CytomX Therapeutics (NASDAQ:CTMX) last issued its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.04. The company had revenue of $10.26 million for the quarter, compared to analysts’ expectations of $4.68 million. CytomX Therapeutics had a negative net margin of 166.40% and a negative return on equity of 36.61%. As a group, equities research analysts expect that CytomX Therapeutics will post -0.45 EPS for the current fiscal year.

Institutional Trading of CytomX Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. Schulhoff & Co. Inc. acquired a new position in CytomX Therapeutics in the fourth quarter valued at $1,597,000. Eversept Partners LP acquired a new stake in CytomX Therapeutics in the fourth quarter valued at approximately $10,680,000. Elmind Capital LP acquired a new position in CytomX Therapeutics during the fourth quarter worth $2,982,000. Y Intercept Hong Kong Ltd acquired a new position in CytomX Therapeutics during the 1st quarter valued at about $787,000. Finally, Pictet Asset Management Holding SA bought a new stake in CytomX Therapeutics during the first quarter worth $78,000. 67.77% of the stock is currently owned by institutional investors.

About CytomX Therapeutics

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.