CytomX Therapeutics (NASDAQ:CTMX) Stock Rating Lowered by StockNews.com

CytomX Therapeutics (NASDAQ:CTMX) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

Separately, JPMorgan Chase & Co. raised shares of CytomX Therapeutics from an “underweight” rating to a “neutral” rating in a research note on Monday.

CytomX Therapeutics Trading Down 3.0 %

NASDAQ CTMX opened at $1.63 on Tuesday. The company has a 50-day moving average price of $2.05 and a two-hundred day moving average price of $1.64. The stock has a market cap of $110.40 million, a price-to-earnings ratio of -81.50 and a beta of 1.00. CytomX Therapeutics has a 52 week low of $1.04 and a 52 week high of $2.86.

CytomX Therapeutics (NASDAQ:CTMX) last issued its quarterly earnings results on Monday, March 11th. The biotechnology company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). The firm had revenue of $26.61 million for the quarter, compared to the consensus estimate of $23.36 million. As a group, equities research analysts expect that CytomX Therapeutics will post -0.21 earnings per share for the current fiscal year.

Insider Transactions at CytomX Therapeutics

In other news, CEO Sean A. Mccarthy sold 20,223 shares of the stock in a transaction 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 transaction, the chief executive officer now owns 524,481 shares in the company, valued at approximately $1,096,165.29. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have sold a total of 35,024 shares of company stock worth $73,200 in the last 90 days. 7.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of CTMX. AlphaMark Advisors LLC increased its stake in shares of CytomX Therapeutics by 119.8% during the 4th 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 during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of CytomX Therapeutics by 737.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 266,836 shares of the biotechnology company’s stock worth $344,000 after buying an additional 234,970 shares during the period. Finally, Congress Park Capital LLC boosted its holdings in shares of CytomX Therapeutics by 112.8% during the 4th quarter. Congress Park Capital LLC now owns 239,300 shares of the biotechnology company’s stock worth $371,000 after buying an additional 126,850 shares during the period. 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.