CytomX Therapeutics (NASDAQ:CTMX) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a report released on Friday.

A number of other research analysts have also weighed in on the company. SunTrust Banks reduced their price target on CytomX Therapeutics to $18.00 and set a “buy” rating on the stock in a research note on Thursday, February 28th. Barclays initiated coverage on CytomX Therapeutics in a research note on Monday, March 11th. They set an “overweight” rating and a $16.00 price target on the stock. Wedbush reduced their price target on CytomX Therapeutics from $35.00 to $25.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 27th. Piper Jaffray Companies initiated coverage on CytomX Therapeutics in a research note on Sunday, December 2nd. They set an “overweight” rating and a $13.24 price target on the stock. Finally, Goldman Sachs Group raised CytomX Therapeutics from a “neutral” rating to a “buy” rating in a research note on Thursday, December 13th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the stock. CytomX Therapeutics presently has an average rating of “Buy” and a consensus target price of $23.28.

Shares of CytomX Therapeutics stock opened at $10.50 on Friday. CytomX Therapeutics has a fifty-two week low of $9.38 and a fifty-two week high of $30.73. The firm has a market cap of $465.99 million, a price-to-earnings ratio of -5.17 and a beta of 0.70.

CytomX Therapeutics (NASDAQ:CTMX) last issued its quarterly earnings results on Wednesday, February 27th. The biotechnology company reported ($0.72) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.23). CytomX Therapeutics had a negative return on equity of 89.22% and a negative net margin of 142.19%. The business had revenue of $11.47 million for the quarter, compared to analysts’ expectations of $13.48 million. As a group, sell-side analysts expect that CytomX Therapeutics will post -2.18 earnings per share for the current year.

In other news, General Counsel Lloyd A. Rowland acquired 9,000 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was acquired at an average cost of $10.33 per share, for a total transaction of $92,970.00. Following the acquisition, the general counsel now directly owns 9,979 shares in the company, valued at approximately $103,083.07. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 8.50% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in CTMX. Wells Fargo & Company MN increased its holdings in shares of CytomX Therapeutics by 4.4% during the 3rd quarter. Wells Fargo & Company MN now owns 94,985 shares of the biotechnology company’s stock worth $1,757,000 after buying an additional 4,020 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of CytomX Therapeutics by 7.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 150,584 shares of the biotechnology company’s stock worth $2,786,000 after buying an additional 10,653 shares during the last quarter. Swiss National Bank increased its holdings in shares of CytomX Therapeutics by 20.9% during the 3rd quarter. Swiss National Bank now owns 72,800 shares of the biotechnology company’s stock worth $1,347,000 after buying an additional 12,600 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of CytomX Therapeutics by 12.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 174,545 shares of the biotechnology company’s stock worth $3,229,000 after buying an additional 19,304 shares during the last quarter. Finally, BlackRock Inc. increased its holdings in shares of CytomX Therapeutics by 19.9% during the 3rd quarter. BlackRock Inc. now owns 3,868,566 shares of the biotechnology company’s stock worth $71,570,000 after buying an additional 642,165 shares during the last quarter. Institutional investors and hedge funds own 83.82% of the company’s stock.

CytomX Therapeutics Company Profile

CytomX Therapeutics, Inc operates as an oncology-focused biopharmaceutical company in the United States. The company develops a novel class of investigational antibody therapeutics based on its Probody technology platform for the treatment of cancer. Its product candidates in clinical stage include CX-072, a Probody therapeutic targeting programmed cell death ligand 1 anti-cancer target; CX-2009, a Probody drug conjugate (PDC) against CD166 novel tumor antigen; BMS-986249, a CTLA-4 Probody therapeutic drug; CX-2029, a PDC targeting CD71; and CX-188, a Probody therapeutic targeting PD-1 anti-cancer target.

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Analyst Recommendations for CytomX Therapeutics (NASDAQ:CTMX)

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