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

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

Other equities analysts have also issued reports about the stock. HC Wainwright restated a “neutral” rating on shares of CytomX Therapeutics in a research report on Friday, March 7th. Wedbush restated an “outperform” rating and set a $5.00 target price on shares of CytomX Therapeutics in a report on Friday, March 7th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, CytomX Therapeutics has an average rating of “Hold” and a consensus price target of $5.02.

CytomX Therapeutics Stock Up 4.9 %

Shares of NASDAQ CTMX opened at $0.61 on Monday. CytomX Therapeutics has a 52-week low of $0.56 and a 52-week high of $5.85. The company’s 50-day simple moving average is $0.73 and its 200-day simple moving average is $0.95. The firm has a market cap of $48.76 million, a price-to-earnings ratio of 3.58 and a beta of 1.33.

CytomX Therapeutics (NASDAQ:CTMX) last released its earnings results on Thursday, March 6th. The biotechnology company reported $0.22 earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.45. The business had revenue of $38.09 million for the quarter, compared to the consensus estimate of $13.53 million. CytomX Therapeutics had a negative return on equity of 41.47% and a net margin of 10.96%. Equities research analysts anticipate that CytomX Therapeutics will post -0.05 EPS for the current fiscal year.

Institutional Trading of CytomX Therapeutics

Several hedge funds have recently made changes to their positions in the company. Formidable Asset Management LLC lifted its holdings in CytomX Therapeutics by 55.5% in the fourth quarter. Formidable Asset Management LLC now owns 382,529 shares of the biotechnology company’s stock valued at $394,000 after acquiring an additional 136,528 shares during the last quarter. Velan Capital Investment Management LP purchased a new stake in CytomX Therapeutics in the fourth quarter valued at $36,000. Tidal Investments LLC lifted its stake in shares of CytomX Therapeutics by 55.5% in the 4th quarter. Tidal Investments LLC now owns 382,529 shares of the biotechnology company’s stock valued at $394,000 after purchasing an additional 136,528 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of CytomX Therapeutics during the 4th quarter worth $2,730,000. Finally, Prosight Management LP increased its position in shares of CytomX Therapeutics by 29.2% during the 4th quarter. Prosight Management LP now owns 3,905,000 shares of the biotechnology company’s stock worth $4,022,000 after purchasing an additional 882,891 shares during the last quarter. 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.