CytomX Therapeutics (NASDAQ:CTMX) Downgraded to Hold Rating by Zacks Research

CytomX Therapeutics (NASDAQ:CTMX) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Wednesday,Zacks.com reports.

A number of other equities research analysts have also issued reports on CTMX. HC Wainwright cut their price target on shares of CytomX Therapeutics from $17.00 to $11.00 and set a “buy” rating on the stock in a report on Monday, May 11th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of CytomX Therapeutics in a research note on Tuesday, June 16th. Guggenheim dropped their target price on shares of CytomX Therapeutics from $15.00 to $14.00 and set a “buy” rating for the company in a report on Monday, August 10th. Wall Street Zen raised CytomX Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Finally, Wolfe Research initiated coverage on CytomX Therapeutics in a report on Tuesday, May 19th. They set an “outperform” rating and a $6.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.90.

CytomX Therapeutics Stock Performance

NASDAQ:CTMX opened at $3.29 on Wednesday. CytomX Therapeutics has a fifty-two week low of $1.90 and a fifty-two week high of $8.21. The business has a 50 day moving average price of $3.41 and a 200-day moving average price of $4.12. The firm has a market cap of $716.89 million, a PE ratio of -6.58 and a beta of 2.12.

CytomX Therapeutics (NASDAQ:CTMX) last posted its quarterly earnings results on Thursday, August 6th. The biotechnology company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). The firm had revenue of $1.42 million for the quarter, compared to the consensus estimate of $12.39 million. CytomX Therapeutics had a negative net margin of 435.21% and a negative return on equity of 38.46%. Research analysts predict that CytomX Therapeutics will post -0.4 EPS for the current year.

Institutional Trading of CytomX Therapeutics

Several large investors have recently added to or reduced their stakes in CTMX. BlackRock Inc. purchased a new position in CytomX Therapeutics during the 2nd quarter valued at $65,849,000. Bank of America Corp DE purchased a new stake in shares of CytomX Therapeutics in the 2nd quarter worth about $56,560,000. Orbimed Advisors LLC purchased a new stake in shares of CytomX Therapeutics in the 2nd quarter worth about $19,208,000. Commodore Capital LP bought a new stake in shares of CytomX Therapeutics during the 2nd quarter valued at about $17,462,000. Finally, Perceptive Advisors LLC bought a new stake in shares of CytomX Therapeutics during the 2nd quarter valued at about $15,876,000. Institutional investors own 67.77% of the company’s stock.

About CytomX Therapeutics

CytomX Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of next-generation therapeutics based on its proprietary Probody® platform. The company engineers masked antibody prodrugs that remain inactive in healthy tissue but are selectively activated in the tumor microenvironment. This approach is designed to enhance the safety and tolerability of antibody-based therapies, particularly those targeting immuno-oncology pathways.

At the core of CytomX’s pipeline is Pacmilimab (CX-072), an anti–PD-L1 Probody therapeutic currently undergoing clinical evaluation for multiple solid tumor indications.