Wall Street Zen Downgrades CytomX Therapeutics (NASDAQ:CTMX) to Sell

CytomX Therapeutics (NASDAQ:CTMX) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

CTMX has been the topic of a number of other reports. Wedbush restated an “outperform” rating and set a $6.00 price target on shares of CytomX Therapeutics in a research note on Friday. Weiss Ratings raised shares of CytomX Therapeutics from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, October 8th. Cantor Fitzgerald initiated coverage on CytomX Therapeutics in a research report on Monday, September 22nd. They set an “overweight” rating and a $6.00 target price on the stock. Barclays lifted their price target on CytomX Therapeutics from $3.50 to $6.00 and gave the company an “overweight” rating in a research report on Tuesday, October 21st. Finally, Oppenheimer assumed coverage on CytomX Therapeutics in a report on Thursday, July 31st. They set an “outperform” rating and a $7.00 price objective on the stock. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $5.83.

CytomX Therapeutics Stock Performance

Shares of CTMX opened at $3.62 on Friday. The business has a 50-day moving average of $2.95 and a 200 day moving average of $2.40. CytomX Therapeutics has a fifty-two week low of $0.40 and a fifty-two week high of $4.62. The firm has a market cap of $596.99 million, a P/E ratio of 6.46 and a beta of 2.29.

CytomX Therapeutics (NASDAQ:CTMX) last released its quarterly earnings data on Thursday, November 6th. The biotechnology company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.05). The business had revenue of $5.96 million for the quarter, compared to analysts’ expectations of $11.50 million. CytomX Therapeutics had a net margin of 34.04% and a return on equity of 158.70%. As a group, research analysts predict that CytomX Therapeutics will post -0.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CytomX Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the business. BIT Capital GmbH bought a new stake in CytomX Therapeutics during the third quarter valued at $52,000. Persistent Asset Partners Ltd bought a new position in CytomX Therapeutics in the 3rd quarter worth about $136,000. JPMorgan Chase & Co. raised its holdings in shares of CytomX Therapeutics by 5,648.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 16,152 shares of the biotechnology company’s stock valued at $52,000 after acquiring an additional 15,871 shares in the last quarter. BlueChip Wealth Advisors LLC purchased a new stake in shares of CytomX Therapeutics in the 3rd quarter valued at about $73,000. Finally, Truist Financial Corp bought a new stake in shares of CytomX Therapeutics during the 3rd quarter valued at about $40,000. Hedge funds and other institutional investors own 67.77% of the company’s stock.

CytomX Therapeutics Company Profile

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.