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

StockNews.com cut shares of CytomX Therapeutics (NASDAQ:CTMXGet Rating) from a hold rating to a sell rating in a report issued on Wednesday morning.

Several other analysts also recently issued reports on the stock. JPMorgan Chase & Co. cut their target price on shares of CytomX Therapeutics from $10.00 to $9.00 and set an overweight rating on the stock in a research note on Wednesday, March 2nd. Barclays upgraded shares of CytomX Therapeutics from an underweight rating to an overweight rating and set a $7.00 price target for the company in a report on Tuesday, January 18th. HC Wainwright reissued a buy rating and set a $11.00 target price on shares of CytomX Therapeutics in a research note on Friday, March 4th. Wedbush dropped their price target on shares of CytomX Therapeutics from $10.00 to $6.00 and set an outperform rating on the stock in a research note on Tuesday. Finally, Zacks Investment Research raised CytomX Therapeutics from a hold rating to a buy rating and set a $1.75 price objective for the company in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, CytomX Therapeutics has an average rating of Buy and an average target price of $9.54.

CTMX opened at $1.76 on Wednesday. The stock has a market cap of $115.10 million, a PE ratio of -1.24 and a beta of 0.76. CytomX Therapeutics has a twelve month low of $1.51 and a twelve month high of $8.95. The business’s 50 day moving average is $2.50 and its 200-day moving average is $4.21.

CytomX Therapeutics (NASDAQ:CTMXGet Rating) last released its earnings results on Thursday, May 5th. The biotechnology company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.02). CytomX Therapeutics had a negative return on equity of 83.08% and a negative net margin of 129.97%. During the same quarter in the prior year, the company earned ($0.26) earnings per share. On average, equities analysts forecast that CytomX Therapeutics will post -1.44 earnings per share for the current fiscal year.

Several hedge funds have recently modified their holdings of CTMX. Renaissance Technologies LLC increased its stake in CytomX Therapeutics by 77.2% during the first quarter. Renaissance Technologies LLC now owns 895,900 shares of the biotechnology company’s stock valued at $2,392,000 after acquiring an additional 390,400 shares during the period. Lazard Asset Management LLC acquired a new stake in shares of CytomX Therapeutics during the 1st quarter worth approximately $40,000. XTX Topco Ltd increased its position in shares of CytomX Therapeutics by 1,064.2% during the first quarter. XTX Topco Ltd now owns 118,339 shares of the biotechnology company’s stock valued at $316,000 after purchasing an additional 108,174 shares during the period. Mackenzie Financial Corp acquired a new position in shares of CytomX Therapeutics in the first quarter valued at $35,000. Finally, Vanguard Group Inc. lifted its position in CytomX Therapeutics by 2.2% in the first quarter. Vanguard Group Inc. now owns 5,222,886 shares of the biotechnology company’s stock worth $13,945,000 after purchasing an additional 114,895 shares during the period. Institutional investors own 92.34% of the company’s stock.

About CytomX Therapeutics (Get Rating)

CytomX Therapeutics, Inc operates as an oncology-focused biopharmaceutical company in the United States. The company develops antibody therapeutics based on its Probody technology platform for the treatment of cancer. The company's product candidates include CX-2009, an antibody drug conjugates (ADC) against CD166, which is in Phase II clinical trials for the treatment of breast cancer; CX-2029 that is in Phase II clinical trials for the treatment of squamous non-small cell lung cancer, head and neck squamous cell carcinoma, esophageal and gastro-esophageal junction cancers, and diffuse large B-cell lymphoma; BMS-986249, a CTLA-4 Probody therapeutic drug, which is in Phase I/II clinical trials for the treatment of metastatic melanoma; and BMS-986288, an anti-CTLA-4 Probody drug, which is in Phase I clinical trials for the treatment of solid tumors.

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Analyst Recommendations for CytomX Therapeutics (NASDAQ:CTMX)

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