CytomX Therapeutics (NASDAQ:CTMX) Lowered to “Sell” at StockNews.com

CytomX Therapeutics (NASDAQ:CTMX – Get Rating) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

CTMX has been the subject of several other reports. JPMorgan Chase & Co. cut their target price on shares of CytomX Therapeutics from $10.00 to $9.00 and set an “overweight” rating for the company in a research note on Wednesday, March 2nd. Wedbush cut their target price on shares of CytomX Therapeutics from $10.00 to $6.00 and set an “outperform” rating for the company in a research note on Tuesday, May 10th. HC Wainwright reiterated a “buy” rating and issued a $11.00 target price on shares of CytomX Therapeutics in a research note on Friday, March 4th. Finally, Zacks Investment Research downgraded shares of CytomX Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday, May 13th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $9.54.

CytomX Therapeutics stock opened at $1.57 on Friday. The firm has a 50-day moving average of $2.18 and a 200-day moving average of $3.96. CytomX Therapeutics has a one year low of $1.51 and a one year high of $8.34. The company has a market cap of $102.67 million, a price-to-earnings ratio of -1.11 and a beta of 0.76.

CytomX Therapeutics (NASDAQ:CTMX – Get Rating) last posted its quarterly earnings data on Thursday, May 5th. The biotechnology company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.02). CytomX Therapeutics had a negative return on equity of 91.89% and a negative net margin of 129.97%. During the same quarter last year, the company earned ($0.26) EPS. Analysts expect that CytomX Therapeutics will post -1.44 earnings per share for the current year.

A number of institutional investors have recently added to or reduced their stakes in CTMX. Rubric Capital Management LP bought a new position in CytomX Therapeutics in the 4th quarter valued at about $10,420,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of CytomX Therapeutics during the first quarter worth approximately $3,446,000. Morgan Stanley increased its holdings in shares of CytomX Therapeutics by 5,827.7% during the second quarter. Morgan Stanley now owns 636,037 shares of the biotechnology company’s stock worth $4,027,000 after purchasing an additional 625,307 shares during the period. Great Point Partners LLC increased its holdings in shares of CytomX Therapeutics by 50.0% during the third quarter. Great Point Partners LLC now owns 1,500,000 shares of the biotechnology company’s stock worth $7,635,000 after purchasing an additional 500,000 shares during the period. Finally, Acadian Asset Management LLC increased its holdings in shares of CytomX Therapeutics by 115.2% during the first quarter. Acadian Asset Management LLC now owns 885,107 shares of the biotechnology company’s stock worth $2,362,000 after purchasing an additional 473,885 shares during the period. 92.34% of the stock is currently owned by hedge funds and other institutional investors.

About CytomX Therapeutics (Get Rating)

CytomX Therapeutics, Inc operates as an oncology-focused biopharmaceutical company in the United States. The company develops antibody therapeutics based on its Probody technology platform for the treatment of cancer. The company's product candidates include CX-2009, an antibody drug conjugates (ADC) against CD166, which is in Phase II clinical trials for the treatment of breast cancer; CX-2029 that is in Phase II clinical trials for the treatment of squamous non-small cell lung cancer, head and neck squamous cell carcinoma, esophageal and gastro-esophageal junction cancers, and diffuse large B-cell lymphoma; BMS-986249, a CTLA-4 Probody therapeutic drug, which is in Phase I/II clinical trials for the treatment of metastatic melanoma; and BMS-986288, an anti-CTLA-4 Probody drug, which is in Phase I clinical trials for the treatment of solid tumors.

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