Tang Capital Management LLC Sells 500,000 Shares of CytomX Therapeutics, Inc. (NASDAQ:CTMX)

Tang Capital Management LLC lowered its position in CytomX Therapeutics, Inc. (NASDAQ:CTMX) by 6.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,311,760 shares of the biotechnology company’s stock after selling 500,000 shares during the period. Tang Capital Management LLC owned about 9.34% of CytomX Therapeutics worth $7,531,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. JPMorgan Chase & Co. increased its position in shares of CytomX Therapeutics by 288,736.3% in the 4th quarter. JPMorgan Chase & Co. now owns 811,630 shares of the biotechnology company’s stock valued at $836,000 after buying an additional 811,349 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of CytomX Therapeutics by 32.7% in the 4th quarter. Renaissance Technologies LLC now owns 1,346,800 shares of the biotechnology company’s stock valued at $1,387,000 after buying an additional 331,800 shares in the last quarter. Prudential Financial Inc. increased its position in shares of CytomX Therapeutics by 76.2% in the 4th quarter. Prudential Financial Inc. now owns 64,300 shares of the biotechnology company’s stock valued at $66,000 after buying an additional 27,800 shares in the last quarter. Schonfeld Strategic Advisors LLC increased its position in shares of CytomX Therapeutics by 13.9% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 1,380,800 shares of the biotechnology company’s stock valued at $1,422,000 after buying an additional 169,000 shares in the last quarter. Finally, Algert Global LLC acquired a new position in CytomX Therapeutics in the 4th quarter worth $35,000. Institutional investors own 67.77% of the company’s stock.

CytomX Therapeutics Trading Up 1.5%

Shares of NASDAQ CTMX opened at $2.03 on Friday. The company has a fifty day moving average price of $0.82 and a 200 day moving average price of $0.89. CytomX Therapeutics, Inc. has a 1-year low of $0.40 and a 1-year high of $2.55. The firm has a market cap of $163.66 million, a PE ratio of 11.94 and a beta of 1.11.

CytomX Therapeutics (NASDAQ:CTMX) last posted its quarterly earnings data on Monday, May 12th. The biotechnology company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.09. CytomX Therapeutics had a net margin of 10.96% and a negative return on equity of 41.47%. The company had revenue of $50.92 million during the quarter, compared to the consensus estimate of $35.42 million. During the same period in the prior year, the business posted $0.17 EPS. Equities research analysts forecast that CytomX Therapeutics, Inc. will post -0.05 EPS for the current year.

Analyst Ratings Changes

CTMX has been the subject of a number of research analyst reports. HC Wainwright raised shares of CytomX Therapeutics from a “neutral” rating to a “buy” rating and set a $5.00 target price for the company in a research note on Thursday. Wedbush reaffirmed an “outperform” rating and issued a $6.00 target price (up from $5.00) on shares of CytomX Therapeutics in a research note on Monday, May 12th. StockNews.com raised shares of CytomX Therapeutics from a “hold” rating to a “buy” rating in a research note on Tuesday, May 13th. Finally, Piper Sandler upped their target price on shares of CytomX Therapeutics from $2.50 to $5.00 and gave the stock an “overweight” rating in a research note on Thursday.

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.