StockNews.com Lowers CytomX Therapeutics (NASDAQ:CTMX) to Hold

StockNews.com lowered shares of CytomX Therapeutics (NASDAQ:CTMX) from a buy rating to a hold rating in a report released on Tuesday morning.

Separately, JPMorgan Chase & Co. raised CytomX Therapeutics from an underweight rating to a neutral rating in a research report on Monday.

CytomX Therapeutics Trading Down 1.8 %

CTMX stock opened at $1.60 on Tuesday. The stock has a 50-day moving average price of $2.05 and a two-hundred day moving average price of $1.64. CytomX Therapeutics has a 12-month low of $1.04 and a 12-month high of $2.86. The company has a market cap of $108.37 million, a PE ratio of -79.96 and a beta of 1.00.

CytomX Therapeutics (NASDAQ:CTMX) last posted its quarterly earnings results on Monday, March 11th. The biotechnology company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). The business had revenue of $26.61 million during the quarter, compared to analysts’ expectations of $23.36 million. Equities analysts forecast that CytomX Therapeutics will post -0.21 EPS for the current fiscal year.

Insiders Place Their Bets

In other CytomX Therapeutics news, CEO Sean A. Mccarthy sold 20,223 shares of the business’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $2.09, for a total transaction of $42,266.07. Following the transaction, the chief executive officer now owns 524,481 shares in the company, valued at $1,096,165.29. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have sold a total of 35,024 shares of company stock worth $73,200 over the last quarter. 7.00% of the stock is owned by corporate insiders.

Institutional Trading of CytomX Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of CTMX. Bank of New York Mellon Corp raised its stake in CytomX Therapeutics by 737.4% during the third quarter. Bank of New York Mellon Corp now owns 266,836 shares of the biotechnology company’s stock valued at $344,000 after buying an additional 234,970 shares in the last quarter. AlphaMark Advisors LLC grew its holdings in shares of CytomX Therapeutics by 119.8% during the fourth quarter. AlphaMark Advisors LLC now owns 23,183 shares of the biotechnology company’s stock valued at $36,000 after purchasing an additional 12,635 shares during the last quarter. Finally, Congress Park Capital LLC grew its holdings in shares of CytomX Therapeutics by 112.8% during the fourth quarter. Congress Park Capital LLC now owns 239,300 shares of the biotechnology company’s stock valued at $371,000 after purchasing an additional 126,850 shares during the last quarter. Institutional investors and hedge funds 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.