CytomX Therapeutics (NASDAQ:CTMX) Downgraded to “Hold” at StockNews.com

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

Separately, JPMorgan Chase & Co. raised shares of CytomX Therapeutics from an underweight rating to a neutral rating in a report on Monday, April 22nd.

CytomX Therapeutics Stock Performance

NASDAQ CTMX opened at $1.59 on Tuesday. The firm has a 50 day simple moving average of $2.06 and a 200-day simple moving average of $1.64. CytomX Therapeutics has a one year low of $1.04 and a one year high of $2.86. The firm has a market cap of $107.69 million, a price-to-earnings ratio of -79.46 and a beta of 1.00.

CytomX Therapeutics (NASDAQ:CTMX) last issued its earnings results on Monday, March 11th. The biotechnology company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.01). The company had revenue of $26.61 million for the quarter, compared to analysts’ expectations of $23.36 million. Equities analysts predict that CytomX Therapeutics will post -0.29 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 firm’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $2.09, for a total transaction of $42,266.07. Following the sale, the chief executive officer now owns 524,481 shares of the company’s stock, valued at $1,096,165.29. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders have sold 35,024 shares of company stock valued at $73,200. 7.00% of the stock is owned by corporate insiders.

Institutional Trading of CytomX Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AlphaMark Advisors LLC raised its holdings in CytomX Therapeutics by 119.8% during the fourth quarter. AlphaMark Advisors LLC now owns 23,183 shares of the biotechnology company’s stock worth $36,000 after purchasing an additional 12,635 shares in the last quarter. Congress Park Capital LLC raised its holdings in CytomX Therapeutics by 112.8% during the fourth quarter. Congress Park Capital LLC now owns 239,300 shares of the biotechnology company’s stock worth $371,000 after purchasing an additional 126,850 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings 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 worth $344,000 after purchasing an additional 234,970 shares in the last quarter. Institutional investors and hedge funds own 67.77% of the company’s stock.

About CytomX Therapeutics

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.