CytomX Therapeutics (NASDAQ:CTMX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.

According to Zacks, “CytomX Therapeutics, Inc. is an oncology focused biopharmaceutical company. The Company is engaged in developing Probody(TM) therapeutics for the treatment of cancer. Its pipeline focuses areas consist of Precision cancer immunotherapy and Probody drug conjugates. CytomX Therapeutics, Inc. is headquartered in South San Francisco, California. “

A number of other research analysts also recently weighed in on CTMX. ValuEngine raised shares of CytomX Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 4th. BidaskClub downgraded shares of CytomX Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday, August 15th. Finally, HC Wainwright initiated coverage on shares of CytomX Therapeutics in a research report on Thursday, September 13th. They set a “buy” rating and a $32.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $36.86.

CytomX Therapeutics stock opened at $15.62 on Tuesday. CytomX Therapeutics has a twelve month low of $15.58 and a twelve month high of $35.00. The company has a market cap of $831.83 million, a PE ratio of -13.97 and a beta of 0.89.

CytomX Therapeutics (NASDAQ:CTMX) last released its earnings results on Wednesday, August 8th. The biotechnology company reported ($0.35) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.34) by ($0.01). CytomX Therapeutics had a negative net margin of 44.46% and a negative return on equity of 74.84%. The company had revenue of $21.34 million for the quarter, compared to the consensus estimate of $16.48 million. On average, sell-side analysts anticipate that CytomX Therapeutics will post -1.54 earnings per share for the current fiscal year.

In related news, insider Sean A. Mccarthy sold 13,052 shares of the firm’s stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $21.86, for a total value of $285,316.72. Following the completion of the transaction, the insider now directly owns 95,115 shares of the company’s stock, valued at approximately $2,079,213.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Debanjan Ray sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $18.46, for a total transaction of $55,380.00. Following the completion of the transaction, the chief financial officer now directly owns 8,928 shares of the company’s stock, valued at $164,810.88. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,052 shares of company stock valued at $486,017. 8.50% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CTMX. Great West Life Assurance Co. Can boosted its holdings in CytomX Therapeutics by 174.6% in the 2nd quarter. Great West Life Assurance Co. Can now owns 4,943 shares of the biotechnology company’s stock worth $113,000 after buying an additional 3,143 shares during the period. SG Americas Securities LLC purchased a new stake in CytomX Therapeutics in the 2nd quarter worth approximately $119,000. WINTON GROUP Ltd purchased a new stake in CytomX Therapeutics in the 1st quarter worth approximately $205,000. Xact Kapitalforvaltning AB purchased a new stake in CytomX Therapeutics in the 2nd quarter worth approximately $206,000. Finally, First Republic Investment Management Inc. purchased a new stake in CytomX Therapeutics in the 1st quarter worth approximately $216,000. 72.03% of the stock is owned by institutional investors.

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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